Registration of electric two-wheelers raised to 72% in Sep 2020
The Society of Manufacturers of Electric Vehicles (SMEV) suggests that India’s electric two-wheeler industry is showing improvements. The registration of high-speed electric two-wheelers was 2,544 units in September 2020 which means 72% increase when compared to 1,473 units sold in the same month last year.
Registration of electric two-wheelers-SMEV
Sohinder Gill, Director General of SMEV said that “We are experiencing huge consumer interest in greener vehicles as they have seen how the environment looks like when no fuel-guzzling vehicles are running on roads. The upcoming festive season will add to the pent up demand and help original equipment manufacturers to recover what they lost in the first and second quarter due to the COVID-19 lockdown.”
Due to the COVID19 pandemic, the first half of 2020 brought uncertainties for the EV industry across the nation. As per the SMEV, the electric two-wheelers sales between April 2020 to September 2020 were 7,552 units when compared to 10,161 units sold in the same period last year.
According to the reports of SMEV the performance of the top 3 electric vehicles manufacturers such as Hero Electric, Okinawa Autotech, and Ather Energy, faced declined in the first half of FY 2021 compared to the first half of FY 2020. The Hero Electric Vehicles and Okinawa witnessed a drop of 16% and 20% in sales in the first half of FY 2021. The sales of Ather Energy declined 64% in the same period.
“One of the main reasons for stagnant sales is attributed to consumers not being able to purchase products due to the COVID-19 pandemic, which led to a lockdown in the country. However, the industry has been quickly able to enter the positive curve soon after the government announced the unlock process,” said the press statement.
The central and state governments coming forward with the policy initiatives may get positive results for the financial year. SMEV in April announced that the sales of electric vehicles in the country went up by 20% in 2019-20.
There were 156,000 electric vehicles sold in the financial year 2019-20 out of them there were 3,400 cars and 600 buses. In FY2018-19, 126,000 two-wheelers, 3,600 cars, and approximately 400 buses were sold which means 130,000 units. There was an increase of 20% of electric two-wheelers only.
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