FADA Sales Report October 2024: Three-wheeler (3W) sales increased by 11% YoY

Key Highlights:

• Three-wheeler sales in October 2024 reached 1,22,846 units, up 11.45% from October 2023.
• E-rickshaw (goods) category saw a significant 95.16% year-over-year increase with 5,892 units sold.
• Bajaj Auto led the market, capturing 39.06% share with 47,978 units sold.
• Passenger three-wheeler YOY sales grew by 19.30%, reaching 60,169 units in October 2024.
• The "others" category, including electric vehicles, captured a 33.39% market share with 41,017 units sold.

In the latest FADA Retail Sales Report for October 2024, the three-wheeler sales report showed mixed results across different categories when compared to September 2024 and October 2023. 

In October 2024, the three-wheeler category recorded sales of 1,22,846 units, marking a month-on-month (MoM) increase of 15.32% from September 2024 and an 11.45% growth compared to October 2023. Here's a breakdown for each category:

E-Rickshaw (Passenger): Sales in October 2024 reached 43,982 units, slightly down from 44,043 units in September 2024, reflecting a 0.14% decrease. Compared to 45,745 units in October 2023, sales declined by 3.85%.

E-Rickshaw with Cart (Goods): This category saw sales of 5,892 units in October 2024, up from 4,569 units in September 2024, marking a month-on-month increase of 28.96%. Compared to 3,019 units in October 2023, sales grew by 95.16% year-over-year.

Three-Wheeler (Goods): In October 2024, sales were 12,709 units, up from 9,108 units in September 2024, resulting in a 39.54% increase. Compared to 10,958 units in October 2023, sales rose by 15.98%.

Three-Wheeler (Passenger): Sales for this category reached 60,169 units in October 2024, an increase from 48,714 units in September 2024, showing a 23.51% rise. Compared to 50,433 units in October 2023, YOY sales increased by 19.30%.

Three-Wheeler (Personal): In October 2024, sales stood at 94 units, up from 90 units in September 2024, reflecting a 4.44% month-on-month increase. Compared to 66 units in October 2023, sales grew by 42.42%.

Three-Wheeler FADA Sales Report: OEM-wise Sales Analysis

In October 2024, the total three-wheeler market recorded sales of 1,22,846 units, reflecting an increase in sales from 1,10,221 units in October 2023. Below is an OEM-wise Sales breakdown:

Bajaj Auto Ltd: Sold 47,978 units in October 2024, capturing 39.06% of the market share. This is an increase from 41,961 units and a 38.07% market share in October 2023.

Piaggio Vehicles Pvt Ltd: Sold 9,041 units in October 2024, holding a 7.36% market share. In October 2023, they sold 9,364 units, with an 8.50% market share.

Mahindra & Mahindra Ltd: Sold 8,290 units in October 2024, achieving a 6.75% market share. This is up from 5,901 units and a 5.35% share in October 2023.

YC Electric Vehicle: Recorded sales of 4,601 units in October 2024, capturing a 3.75% market share, up from 4,068 units and a 3.69% share in October 2023.

Atul Auto Ltd: Sold 3,212 units in October 2024, with a 2.61% market share, compared to 2,186 units and a 1.98% share in October 2023.

Saera Electric Auto Pvt Ltd: Sold 2,484 units in October 2024, holding a 2.02% market share. This is down from 3,132 units and a 2.84% share in October 2023.

TVS Motor Company Ltd: Sold 2,451 units in October 2024, capturing a 2.00% market share, up from 1,584 units and a 1.44% share in October 2023.

Dilli Electric Auto Pvt Ltd: Recorded sales of 2,388 units in October 2024, representing a 1.94% market share, compared to 2,186 units and a 1.98% share in October 2023.

Mini Metro EV LLP: Sold 1,384 units in October 2024, with a 1.13% market share, slightly down from 1,356 units and a 1.23% share in October 2023.

Others (including EVs): Combined sales of other brands, including electric vehicles, reached 41,017 units in October 2024, holding a 33.39% market share. This is an increase from 38,483 units and a 34.91% share in October 2023.

Also Read: FADA Sales Report September 2024: Three-wheeler (3W) sales increased by 0.66% YoY

CMV360 Says

The October 2024 FADA sales report shows good growth in three-wheeler sales, especially for goods carriers and passenger vehicles. This increase shows that more people are choosing affordable and eco-friendly options for transport. 

Bajaj Auto continues to lead the market, and the rise in electric three-wheelers is a positive sign for greener choices. However, e-rickshaw sales saw a small drop compared to last year, which suggests more efforts are needed to boost them. Overall, the growth in three-wheeler sales supports India’s changing transportation needs.