India’s electric two-wheeler (e2W) market witnessed a significant surge in November 2024, recording a 29% year-on-year (YoY) growth with 118,924 units sold. This strong performance marks November as the third-best month for the e2W industry this year, following October (219,018 units) and March (213,064 units). The cumulative sales for January to November now stand at an impressive 1.07 million units, reflecting a 37% YoY growth.
E2Ws contributed to 62% of total electric vehicle (EV) sales in November, which reached 191,513 units, a 24% YoY increase. These EVs made up 6% of the country’s overall automobile retail sales for the month, which totaled 3.21 million units.
Ola Electric held a leading market share of 24.54% despite a slight drop in November. TVS Motor followed closely, achieving a 23% share with 26,971 units sold, marking a 41% YoY increase. Bajaj Auto showed remarkable growth, selling 26,163 units, a 121% YoY jump. Ather Energy also experienced steady growth, selling 12,741 units, securing an 11% market share.
Hero MotoCorp saw its second-highest monthly sales of the year with 7,309 units, while Revolt Motors recorded its best-ever performance. The introduction of new models, RV1 and RV1+, drove Revolt’s November sales to 1,994 units, a staggering 197% YoY growth, boosting its cumulative sales to 8,947 units this year.
This surge highlights India’s rapidly evolving e2W market and its role in shaping the country’s electric mobility future.
