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Total EV registrations touch record levels in March on price cuts and pre-buying

Thehindubusinessline

Thehindubusinessline · 1y ago

Total EV registrations touch record levels in March on price cuts and pre-buying

In March, India saw a surge in registrations of electric vehicles (EVs), particularly electric two-wheelers, as consumers rushed to take advantage of price reductions and beat the deadline for revised subsidy schemes. Total EV registrations reached a record high of 175,000 units, with electric two-wheeler sales crossing 100,000 units. The surge is attributed to price reductions by leading manufacturers and a drop in battery prices. The Indian government also recently announced a ₹500 crore ($66.7 million) Electric Mobility Promotion Scheme for the adoption of electric two- and three-wheelers.

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2-Wheeler EV Registrations Surge To A Record 1.36 Lakh Units In March; Ola Sales Cross 50K Mark

Inc42 · 1y ago

2-Wheeler EV Registrations Surge To A Record 1.36 Lakh Units In March; Ola Sales Cross 50K Mark

In March, registrations of electric two-wheelers in India surpassed 100,000 units for the first time, driven by increased sales from various manufacturers. The total registrations of two-wheeler EVs increased by over 65% MoM, reaching 136,000 units in March. Ola Electric retained its top position with 50,538 EV registrations, while TVS Motor and Bajaj Auto followed with 26,466 and 17,900 registrations, respectively. Ather Energy experienced a significant 90% MoM increase in registrations, reaching 17,204 units in March. The total EV registrations in the country, including all categories, reached 208,000 units in March.

Two-wheeler EV registrations rise 7% MoM to breach 81K mark in Jan

Inc42 · 1y ago

Two-wheeler EV registrations rise 7% MoM to breach 81K mark in Jan

Two-wheeler EV registrations in India increased by 7.4% month-on-month (MoM) to reach 81,344 units in January, according to Vahan data. Ola Electric led the market with over 32,000 registrations, followed by TVS Motor with 15,181 units. Ather Energy witnessed the biggest MoM jump with a 41% increase in January registrations. However, companies like Okinawa Autotech and Hero Electric experienced declines in registrations. Overall, India's total EV registrations across vehicle segments grew slightly to 1.43 Lakh in January.

Ola Electric shares climb 9% today; is this EV stock a short-term buy?

Business Today

Business Today · 4m ago

Ola Electric shares climb 9% today; is this EV stock a short-term buy?

Shares of Ola Electric climbed 8% after the company clarified that a temporary sales backlog in February was due to ongoing negotiations with vendors responsible for vehicle registrations. This update has driven a positive rebound in the share price, suggesting the resolution of issues impacting sales and potentially presenting the EV stock as a short-term buying opportunity for investors looking to capitalize on the company's recovery and market dynamics.

Two-Wheeler EV Registrations Nosedive Over 50% MoM In April, Ola Takes 35% Hit

Inc42 · 1y ago

Two-Wheeler EV Registrations Nosedive Over 50% MoM In April, Ola Takes 35% Hit

Electric two-wheeler registrations in India dropped to an eight-month low of 64,013 units in April, a decline of over 53% compared to March. This decrease was attributed to lower vehicle subsidies and seasonal factors. Ola Electric remained the leading player, despite a 35% MoM decline in registrations to 33,062 units. TVS Motor and Ather Energy also experienced significant declines in registrations. The overall decline in EV registrations comes as the Indian government is working on new initiatives to boost EV sales in the country.

Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

Inc42 · 1y ago

Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

Ola Electric's vehicle registrations increased by 13% month-on-month to reach 41,597 units, representing 40% of the total two-wheeler electric vehicle registrations in July. Ather Energy experienced a significant 63% monthly increase in registrations, while TVS Motor saw a rise of 39% in the same period. Other electric vehicle makers such as Pure EV, River, Revolt, Oben Electric, and Ultraviolette also observed growth in registration volumes.

Two-Wheeler EV Registrations Slip 18% MoM In Aug, Ola Electric Loses Market Share

Inc42 · 11m ago

Two-Wheeler EV Registrations Slip 18% MoM In Aug, Ola Electric Loses Market Share

Two-wheeler electric vehicle (EV) registrations declined by about 18% in August after a significant rise in July. Ola Electric, the leading player in terms of market share, saw its registrations fall to below 30,000 units last month, with a market share of 31%. TVS held a 20% market share, while Bajaj Auto's market share increased to 19%. The growth in EV sales in July was attributed to discounts and the approaching deadline for the Electric Mobility Promotion Scheme (EMPS) 2024 scheme. In August, total EV two-wheeler registrations stood at 88,473 units, a 41% increase from August 2023.

Two-Wheeler EV Registrations Remain Flat MoM In Feb; Ather, TVS Motor See Decline

Inc42 · 1y ago

Two-Wheeler EV Registrations Remain Flat MoM In Feb; Ather, TVS Motor See Decline

Electric two-wheeler registrations remained steady in February, with a total of 81,963 units registered, almost the same as January's figures. Ola Electric was the leader in terms of registrations, with 33,722 units, followed by TVS Motor with 14,499 units and Bajaj Auto with 11,618 units. Ather Energy saw a decline in registrations, while Hero MotoCorp experienced a significant month-on-month increase at 17%. Other players, including Okinawa Autotech and Hero Electric, continued to struggle, possibly due to FAME-II subsidy issues. Overall, EV registrations across categories in February dropped slightly to 1.4 Lakh units.

Tesla loses more ground in Europe, while BYD makes gains | TechCrunch

TechCrunch · 2m ago

Tesla loses more ground in Europe, while BYD makes gains | TechCrunch

Tesla's vehicle sales in Europe and the U.K. fell by 49% in April, despite launching a new Model Y, while competitors maintained sales levels. Analysts suggest CEO Elon Musk's political activities may negatively impact the brand. Overall car sales in the region decreased slightly, with EV sales rising 27.8% year-over-year. Chinese manufacturers like BYD are gaining traction in Europe, with a 59% increase in EV registrations, despite existing EU tariffs.

Zomato Jumps Over 5% Intraday To Touch New Record High Of INR 183.5

Inc42 · 1y ago

Zomato Jumps Over 5% Intraday To Touch New Record High Of INR 183.5

Shares of foodtech giant Zomato reached a new all-time high during intraday trading, gaining almost 5.4% to touch INR 183.5. The stock also ended the trading session at a record closing price of INR 182.6. Zomato's positive performance comes after reporting three consecutive profitable quarters in FY24, leading to increased investor sentiment. The stock has gained 47.6% year-to-date and is trading almost 60% higher than their listing price of INR 115. Brokers like Jefferies have included Zomato in their list of top picks with a price target of INR 400 by March 2029.

Tesla is laying off more than 10% of its global workforce

TechCrunch · 1y ago

Tesla is laying off more than 10% of its global workforce

Tesla is laying off more than 10% of its global workforce, affecting over 14,000 employees, according to an internal email from CEO Elon Musk. The job cuts come after a decline in sales and as the company looks to reduce costs and increase productivity. Tesla's sales growth is expected to be lower in 2024, and the company is in a transitional phase with its product lineup. Despite shipping a record 1.8 million EVs in 2023, Tesla faced challenges from high interest rates and global competition, leading to price cuts on popular models. The company has also reportedly delayed plans for a lower-cost EV.

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