The Indian automotive industry is undergoing a significant transformation, with electric vehicles (EVs) steadily gaining ground against traditional internal combustion engine (ICE) vehicles. In January 2025, the penetration of EVs in various segments was as follows:
- Two-Wheelers (2W): 6.4%
- Three-Wheeler Passenger (3W L5): 25.6%
- Three-Wheeler Cargo (3W L5): 20.7%
This article provides a detailed analysis of the sales performance of leading Original Equipment Manufacturers (OEMs) in the 2W, 3W, and 4W categories for January 2025.
Two-Wheeler (2W) Sales Analysis
In the two-wheeler segment, traditional ICE vehicles continue to dominate, but EVs are making notable inroads.
| OEM Name | Total Sales | ICE Sales | EV Sales | EV Share (%) |
|---|---|---|---|---|
| Hero MotoCorp | 410,774 | 409,159 | 1,615 | 0.4 |
| Honda Motorcycle | 372,982 | 372,982 | 0 | 0 |
| TVS Motor | 286,747 | 262,938 | 23,809 | 8.3 |
| Bajaj Auto | 173,310 | 152,000 | 21,310 | 12.3 |
| Suzuki Motorcycle | 79,416 | 79,416 | 0 | 0 |
| Royal Enfield | 77,664 | 77,664 | 0 | 0 |
| Yamaha Motor | 55,101 | 55,101 | 0 | 0 |
| Ola Electric | 24,336 | 0 | 24,336 | 100 |
| Ather Energy | 12,906 | 0 | 12,906 | 100 |
| Ampere/Greaves | 3,636 | 0 | 3,636 | 100 |
Source: Vahan Dashboard as of Feb 3, 2025. Telangana data not included.
Insights:
- Hero MotoCorp maintains its leadership in total sales but has a minimal EV presence.
- TVS Motor and Bajaj Auto show significant EV adoption, with EV shares of 8.3% and 12.3%, respectively.
- Pure EV manufacturers like Ola Electric, Ather Energy, and Ampere/Greaves achieved 100% EV sales, highlighting their exclusive focus on electric mobility.
Three-Wheeler Passenger (3W L5) Sales Analysis
The three-wheeler passenger segment exhibits a higher EV penetration compared to two-wheelers.
| OEM Name | Total Sales | ICE Sales | EV Sales | EV Share (%) |
|---|---|---|---|---|
| Bajaj Auto | 33,988 | 29,110 | 4,878 | 14.4 |
| Mahindra Last Mile Mobility | 5,341 | 343 | 4,998 | 93.6 |
| Piaggio Vehicles | 5,281 | 3,851 | 1,430 | 27.1 |
| TVS Motor | 2,670 | 2,537 | 133 | 5 |
| TI Clean Mobility | 560 | 0 | 560 | 100 |
| MLR Auto | 497 | 457 | 40 | 8 |
| Omega Seiki | 240 | 0 | 240 | 100 |
| Baxy | 207 | 189 | 18 | 9 |
Source: Vahan Dashboard as of Feb 3, 2025. Telangana data not included.
Insights:
- Mahindra Last Mile Mobility achieved a remarkable 93.6% EV share, indicating a strong focus on electric three-wheelers.
- Bajaj Auto leads in total sales but has a lower EV share of 14.4%.
- New entrants like TI Clean Mobility and Omega Seiki are exclusively producing EVs, contributing to the segment’s electrification.
Three-Wheeler Cargo (3W L5) Sales Analysis
The cargo segment is also witnessing a gradual shift towards electrification.
| OEM Name | Total Sales | ICE Sales | EV Sales | EV Share (%) |
|---|---|---|---|---|
| Bajaj Auto | 5,500 | 5,020 | 480 | 8.7 |
| Piaggio Vehicles | 2,623 | 2,466 | 157 | 6 |
| Mahindra Last Mile Mobility | 883 | 427 | 456 | 51.6 |
| Omega Seiki | 368 | 0 | 368 | 100 |
| Euler Motors | 273 | 0 | 273 | 100 |
| MLR Auto | 160 | 155 | 5 | 3 |
| 3EV Industries | 130 | 0 | 130 | 100 |
| Baxy | 140 | 138 | 2 | 1.4 |
Source: Vahan Dashboard as of Feb 3, 2025. Telangana data not included.
Insights:
- Mahindra Last Mile Mobility leads in EV share with 51.6%, indicating a balanced approach between ICE and EV models.
- Companies like
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