Ather Energy registered a 35-40% drop in sales compared with the previous month.
The government recently slashed the FAME 2 subsidy on electric vehicles, resulting in a steep hike in the prices of electric 2-wheelers. This has also been reflected in sales as Vahan data shows e-scooter registrations hit a 16-month low in June 2023.
Higher prices have kept customers away from e-scooter showrooms. As per the Vahan vehicle registration portal, 35,461 units were sold till June 27. Electric 2-wheeler sales fell to 1,363 units per day from 3,391 units/day in May.
Adjusted for the remaining four days, the June sales volume is estimated to be around 40,000 to 40,500 units. That’s a month-on-month decline of 61%.
Despite the recent trends, the industry seems optimistic about the future. Ather Energy registered a 35-40% drop in sales compared with the previous month. However, chief business officer, Ravneet Phokela expects sales to pick up next month.
Keyword: Electric 2-wheeler sales hit 16-month low after govt. slashes subsidy