highlights
TVS iQube sales drop drastically in June.
E-scooter sales were just 7,791 units.
The Fame-2 subsidy cut spoiled the game.
New Delhi. TVS has released the sales figures for the iQube electric scooter. The company sold 7,791 electric scooters in the country last month. Compared to May 2023, there was a huge drop in electric scooter sales. We can tell you that the company sold 20,254 electric scooters in May. Compared to May, the company’s sales fell by around 12,500 units.
Not only TVS, but also sales of Ola Electric, Ather Energy, Okinawa, Hero Electric and Ampere saw a huge drop. While sales of electric two-wheelers were still 1,04,755 units in May 2023, they fell by more than half to 45,734 units in June 2023.
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Why have sales dropped?
The reason for the low sales of electric scooters is attributed to the reduction in subsidies under the FAME 2 program. The central government has cut subsidies for two-wheel electric vehicles from June 1, 2023. Because of this, in May, customers flocked to the showroom to buy electric scooters, and sales of all companies surged. However, the impact of the subsidy cut was seen in June sales. After the subsidy cut, the price of electric scooters has increased by 25,000-30,000 rupees.
Ola Electric was the only company whose June sales exceeded 10,000 units, or 17,552 units. Ather, on the other hand, only delivered 6,479 scooters to customers. TVS currently only sells one electric scooter, the TVS iQube, the entry-level variant of which starts at Rs. 1,41,000 (ex showroom).
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Tags: car sales, electric scooter, TV
FIRST RELEASED : July 02, 2023 at 07:30 AM IST
