Electric two-wheelers on track to surpass FY23 sales despite FAME 2 revision

Electric two-wheeler sales are undeniably in the fast lane. A closer look at the sales for YTD shows around 272,074 electric two-wheelers were sold in the first four months of FY2024, which translates to almost 37 percent of the electric two-wheelers sold in FY2023. This further roughly can be broken down to around 68,018 unit sales every month. All of this is despite the FAME 2 revision, which sees many popular models earlier sold not being eligible for subsidies.

One has to also take into account the fact that there was advance buying in May on the back of a reduction in FAME 2 subsidies.