Electric two-wheeler (E2W) registrations in India grew 5% month-on-month in June to 1.81 lakh units, up from 1.72 lakh units in May, according to Vahan data reported by inc42.com. This marks a 71% increase compared to June last year, when 1.06 lakh units were registered. TVS retained its top position among OEMs in the segment.
Most original equipment manufacturers (OEMs) saw moderate growth in registrations, while Ola Electric experienced a slight decline of nearly 1%, with 15,096 units registered in June compared to 15,218 in May. Ola Electric's market share dropped to 8.3% from 8.9% the previous month. The company has been working on stabilizing after-sales service and streamlining costs to regain market share, with S&P Global Market Intelligence projecting a 7% volume increase for Ola Electric in the current fiscal year.
The surge in E2W registrations earlier this year was driven by rising petrol and diesel prices amid fears of supply disruptions caused by the West Asia conflict, which pushed monthly registrations to a record 1.92 lakh units in March. However, with the conflict easing and normal operations resuming through the Strait of Hormuz, the momentum in E2W sales has moderated. The growth reflects the increasing consumer shift towards electric vehicles as a reliable transport option amid fluctuating fuel prices.
The next official registration data release is expected in July, which will provide further insight into the E2W market's trajectory following the easing of geopolitical tensions and fuel price stabilization, according to inc42.com.