Thursday, July 7, 2022

Electric Scooter Sales Apr 2022 – Ola Vs Ather Vs iQube Vs Chetak

Sales of popular scooters like Ola, Ather, iQube and Bajaj has risen more than 10 times (YoY) in April 2022

2022 TVS iQube Electric Scooter
2022 TVS iQube Electric Scooter

With fuel prices at an all-time high, electric scooters have been witnessing a significant jump in sales. This is despite the safety concerns that have been raised in recent times with multiple electric scooters catching fire. Continual expansion of charging infrastructure is also a key factor why customers are no longer averse to buying an electric scooter.

In April 2022, sales of popular scooters such as Ola, Ather, iQube and Bajaj was at 19,143 units. YoY growth is a whopping 917.70%, as compared to just 1,881 units sold in the corresponding period last year. MoM growth is also positive at 31.81%, as compared to 14,523 units sold in March 2022.

Electric Scooter Sales Apr 2022 – Ola leads

Among the four, Ola S1 Pro currently leads by a significant margin. Sales in April were at 12,698 units. Percentage share in sales is at 66.33%. MoM growth is up by 39.13%, as compared to 9,127 units sold in March 2022.

Ather sales in April were at 3,779 units. YoY growth is at 255.17%, as compared to 1,064 units sold in April last year. Share in sales is at 19.74%. Ather MoM growth is at 45.85%, as compared to 2,591 units sold in March 2022.

Electric Scooter Sales April 2022
Electric Scooter Sales April 2022

iQube registered sales of 1,420 units in April. YoY growth is up by 362.54%, as compared to 307 units sold in April last year. Share in sales is at 7.42%. iQube MoM growth is down by -21.07%, as compared to 1,799 units sold in March 2022.

Bajaj Chetak sales were at 1,246 units in April. YoY growth is 144.31%, as compared to 510 units sold in April last year. Share in sales is at 6.51%. Chetak MoM sales are up by 23.86%, as compared to 1,006 units sold in March 2022.

Chetak vs iQube

Close fight between Chetak and iQube continues with monthly average at 744 units and 991 units, respectively. In the last 12 months, total cumulative sales of Chetak and iQube are at 8,923 units and 11,886 units, respectively. Both scooters have quite a few similarities, in terms of their range, top speed, charging time, warranty, etc.

Chetak Vs iQube Sales - Last 12 months
Chetak Vs iQube Sales – Last 12 months

Sales numbers reveal that iQube has been ahead of Chetak for six consecutive months, from November 2021 to April 2022. As compared to Chetak, TVS iQube’s relatively affordable pricing could be a factor that explains its higher sales numbers. It could also be due to production constraints that Bajaj is facing on account of global shortage of auto components.

iQube’s highest monthly sales this year was in February when 2,238 units were sold. Chetak’s best was in January, with sales at 1,268 units. If iQube can maintain the momentum, it could register higher sales than Chetak in CY2022. Last year also, iQube was ahead of Chetak in annual sales. Recently TVS announced the launch of updated iQube with more range and features. This makes the e-scooter even more attractive to buyers. Bajaj is also working on launching updated Chetak sometime later this year.

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