India’s Electric Two-Wheeler Retail Sees Impressive 44% YoY Growth as Smaller Cities Drive Demand

New Delhi: 9th October, 2024: As electric mobility in India continues to gain momentum, CarDekho Group’s New Auto segment, the leading automotive content and solutions provider, has released its latest report highlighting the growth in the electric two-wheeler (E2W) segment. The report combines industry data with the platform’s insights, revealing emerging consumer trends and market dynamics over the past year (August 2023 – August 2024).

E2W retail experienced a 44% year-on-year growth in August 2024, significantly outpacing the overall industry growth of 7%. The retail contribution also rose from 5% in August 2023 to 7% in August 2024. This surge in E2W popularity is reflected in CarDekho’s data, which shows a notable shift in consumer interest. While Tier 1 and Tier 2 cities still dominate, contributing to 76% of E2W searches on the platform, there’s a marked increase in interest from smaller cities. The data from CarDekho Group’s platform highlights a growing demand for E2Ws in Tier 3 and other smaller cities. Traffic from these regions grew by 41% and 34%, respectively, signaling a clear shift towards electric mobility across India. Further, the report indicates that Maharashtra (14%), Uttar Pradesh (11%), Karnataka (8%), Tamil Nadu (7%), and Madhya Pradesh (7%) were the top 5 states recording highest searches on the platform.

“The E2W segment is at the forefront of India’s electric vehicle revolution, showcasing significant growth not just in sales but in consumer interest as well. Our data shows growing interest beyond metro cities, signaling a nationwide shift towards electric mobility. This widespread acceptance, combined with India’s manufacturing prowess in two-wheelers, opens up exciting possibilities. As affordability and sustainability become key drivers in emerging markets, Indian E2W manufacturers have the opportunity to leverage their strengths and become key players in the international arena. The rapid domestic adoption we’re witnessing is not just transforming local transportation – it’s paving the way for India to lead the global E2W export market,” said Mayank Jain, CEO of New Auto (CarDekho Group).