Electric scooter sales touch new high of 3.3 pc in Feb 2022: Report

According to a report by global investment firm Credit Suisse, most sales were observed in Bengaluru, Delhi, Goa, and Mumbai, while Ola electric registered the most revenue.

Electric scooter sales touch new high of 3.3 pc in Feb 2022: Report

Friday March 04, 2022,

2 min Read

Electric scooter sales touched a new high of 3.3 percent in February 2022, according to a report published by global investment firm Credit Suisse. The sales were higher in comparison to 2.7 percent sales in January 2022, and 1.9 percent in the third quarter of FY22. This indicated greater adoption of electric scooters in the country.

The penetration of electric two-wheelers or E2W in the country was highest in the cities of Bengaluru (12.4 percent), Delhi (9.5 percent), Goa (8.2 percent), and Mumbai (5.6 percent). The sales of electric three-wheelers also rose to 5.8 percent in the same period.  

Ola Electric emerged as the new market contender in the E2W segment. It marked a revenue share of 19 percent in February. Ola’s registration run rate touched an average of 200 vehicles per day over the last week of February. 

In terms of volume market share, Hero Electric took the lead at 23 percent, followed by Okinawa at 18 percent, Ampere at 13 percent, and Ather at 7 percent. 

Ola electric

Ola electric scooters

The research also included a survey of 90 owners of Ola E2Ws. When asked about an alternative to the Ola electric, 49 percent of the respondents preferred to go for a petrol two-wheeler. Among them, 78 percent preferred to buy a petrol scooter, while the rest 22 percent preferred to buy petrol motorcycles.

This was consistent with another finding, which suggested that there was more enthusiasm among scooter owners as compared to motorcycle owners to switch to an electric scooter.

The survey also indicated that Ola brought new buyers to the E2W segment. About 39 percent of the respondents said that they were not planning to buy a two-wheeler immediately, but were enticed to buy one after Ola launched its electric scooter on August 15, 2021.

Edited by Megha Reddy