Electric Three-Wheeler Sales September 2024: Bajaj Auto Leads With 35.4% Share
Every electric three-wheeler registered in India in September 2024, brand by brand: volumes, market share inside the segment, month-on-month and year-on-year change, and who gained or lost share.
How September went
India registered 14,592 electric three-wheelers in September 2024, +84.5% on September 2023 and +18.9% on August.
Across the 9 completed months of 2024 to September, 1,06,059 electric three-wheelers have been registered, +110.5% on the same months of 2023.
Monthly electric three-wheeler registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
Electric Three-Wheeler market share, September 2024
Bajaj Auto led the month with 5,171 registrations — 35.4% of the electric three-wheeler market — ahead of Mahindra Last Mile on 5,149 (35.3%), a gap of 22 units. Bajaj Auto also led August.
Mahindra Last Mile has gained the most share against September 2023, +34.72pp to 35.3%; Piaggio has lost the most, −13.96pp to 11.6%.
The top three hold 82.3% of the segment; 88 manufacturers registered at least one electric three-wheeler.
Top 10 electric three-wheeler makers, September 2024
Electric three-wheeler registrations only — every other vehicle type these companies make is excluded.
Share is of every electric three-wheeler registered in the month. MoM and YoY compare each maker's own volume; the last column is its change in share of the segment.
| # | Manufacturer | Sep 2024 | Share | MoM | YoY | Share vs Sep 2023 |
|---|---|---|---|---|---|---|
| 1 | Bajaj Auto | 5,171 | 35.4% | +22.3% | +662.7% | +26.86pp |
| 2 | Mahindra Last Mile | 5,149 | 35.3% | +23.0% | — | +34.72pp |
| 3 | Piaggio | 1,694 | 11.6% | +8.3% | −16.2% | −13.96pp |
| 4 | Ti Clean Mobility | 598 | 4.1% | +0.8% | +176.9% | +1.37pp |
| 5 | Omega Seiki | 531 | 3.6% | +16.7% | +53.5% | −0.74pp |
| 6 | Euler Motors | 256 | 1.8% | −1.9% | +28.0% | −0.77pp |
| 7 | Dilli Electric | 132 | 0.9% | +43.5% | +18.9% | −0.50pp |
| 8 | Atul Auto | 103 | 0.7% | −30.4% | −44.3% | −1.63pp |
| 9 | Atul Greentech | 77 | 0.5% | +45.3% | +156.7% | +0.15pp |
| 10 | Keto Motors | 59 | 0.4% | — | — | +0.38pp |
| 11 | TVS Motor | 58 | 0.4% | −17.1% | — | +0.40pp |
| 12 | M/S Vishnu Clean Energy Vehicles Llp | 55 | 0.4% | — | — | +0.38pp |
| 13 | Altigreen Propulsion Labs | 44 | 0.3% | −2.2% | −85.0% | −3.42pp |
| 14 | Green Evolve | 40 | 0.3% | — | — | +0.26pp |
| 15 | Mlr Auto | 40 | 0.3% | +8.1% | +700.0% | +0.21pp |
| All others (73 makers) | 585 | 4.0% |
Exact: Vahan's maker x month table filtered to battery-electric fuels (PURE EV, ELECTRIC(BOV)) and the segment's vehicle classes — not a company total multiplied by anything.
Who is gaining
Monthly share of the electric three-wheeler market for the six largest makers this month, over the last 15 completed months.
Electric Three-Wheeler market share by month
Share of the segment each month, in per cent.
Market share, 2024 to September
The same table over 2024 to September, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Mahindra Last Mile | 38,129 | 35.95% | +35.86pp | — |
| 2 | Bajaj Auto | 26,674 | 25.15% | +22.74pp | +2097.2% |
| 3 | Piaggio | 16,246 | 15.32% | −12.93pp | +14.1% |
| 4 | Omega Seiki | 5,664 | 5.34% | −0.01pp | +110.2% |
| 5 | Ti Clean Mobility | 4,239 | 4.00% | +3.10pp | +839.9% |
| 6 | Euler Motors | 2,726 | 2.57% | −0.84pp | +58.5% |
| 7 | Atul Auto | 1,595 | 1.50% | −1.53pp | +4.3% |
| 8 | Dilli Electric | 1,168 | 1.10% | −0.89pp | +16.2% |
| 9 | Altigreen Propulsion Labs | 1,072 | 1.01% | −2.66pp | −42.0% |
| 10 | Mahindra | 948 | 0.89% | −31.87pp | −94.3% |
| 11 | Keto Motors | 844 | 0.80% | +0.49pp | +448.1% |
| 12 | Ravi Metal Works | 552 | 0.52% | +0.52pp | — |
| 13 | Atul Greentech | 437 | 0.41% | +0.35pp | — |
| 14 | Others | 361 | 0.34% | −1.46pp | −60.2% |
| 15 | E Royce Motors India | 359 | 0.34% | −1.91pp | −68.3% |
Frequently asked questions
How many electric three-wheelers were sold in India in September 2024?
Which company sold the most electric three-wheelers in September 2024?
What is the electric three-wheeler market share of each brand?
How are these numbers measured?
Electric Three-Wheeler sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
