Three Wheeler segment emerged as the early adaptors of electric vehicles and currently, Electric Rickshaws have gained a crucial hold in sales. All EVs combined have outsold the Market Leader Bajaj in Feb'21 volumes as per FADA's registration data!
The overall 3 Wheeler segment reported a drop of -49.7% in Feb'21 vs Feb'20. The segment has seen a drastic fall in volumes over the past 1-2 years.
Bajaj Auto maintained its Numero Uno spot. However; it registered a fall of -56.2% YoY and its market share declined too by -5.5%.
Piaggio YoY sales fell by -60.3% and it could sell only 5,180 units in February 2021. It too recorded a Market Share fall of 4.2%.
Due to Covid19 led Supply Chain disruptions; M&M could launch the BS6 range of three-wheelers only in Oct’20 and is now focusing on the electric 3W range to gain sales. It anyhow recorded the highest YoY fall and ranked third.
Rajkot-based Atul Auto stood fourth in the list and saw its volumes dipping by -68.1% YoY in Feb'21!
Do note that ‘Others including EV’ had the lowest YoY decline and also the highest Market Share increase (14.3%). We expect that the EV’s are rapidly catching up in the 3W space and is reflecting accordingly in the sales volumes.
Note: The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.