Ather Energy sales register 101% growth in June, volumes drop month-on-month

Ather Energy delivered 6,479 units in June 2023, registering a growth of 101 per cent year-on-year when compared to June 2022. Volumes dropped by over
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The ₹30,000 increase in prices of the Ather 450X prompted the sharp decline in volumes after sales peaked in May on account of the impending hike
The ₹30,000 increase in prices of the Ather 450X prompted the sharp decline in volumes after sales peaked in May on account of the impending hike

Ather Energy reported its sales for the 450X electric scooter range in June 2023 and the company delivered 6,479 units last month. The electric two-wheeler maker registered a growth of 101 per cent year-on-year when compared to June 2022. However, the company’s volumes dropped by over half on a month-on-month basis. The low volume was a result of the FAME II subsidy rollback in June that led to price hikes across the electric two-wheeler sector.

While Ather Energy delivered 15,256 units in May 2023, the 450X manufacturer registered a decline of 57.53 per cent in volumes last month. The electric scooter registered a price hike of 30,000 with the standard version now retailing at 1.28 lakh, and the Ather 450X Pro Pack priced at 1.49 lakh (ex-showroom, Delhi).

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Also Read : Impending price hike helps Ather Energy register 357% sales growth in May 2023

Ather also launched the more affordable 450S priced at 1.30 lakh (ex-showroom) last month with a 3 kWh battery pack promising a range of 115 km (IDC) and a top speed of 90 kmph. It also gets fewer features compared to the 450X. Nevertheless, the company says it is optimistic of sales bouncing back over the next two to three months.

Speaking about the drop in volumes in June, Ravneet Singh Phokela, Chief Business Officer - Ather Energy, “In June '23, we delivered 6479 units to our customers. The drop in numbers was expected, given the recent price increase on account of the lower FAME subsidy and consumers bringing their purchases forward into May. While the drop was slightly more than we’d anticipated, we remain optimistic about an industry bounce-back over the next 2-3 months."

“We have always been of the view that the subsidy should be phased off gradually over time so that consumers can adjust to more realistic market prices. While it impacts short-term financials, this is certainly a step in the right direction from a long-term perspective. To make EV scooters more affordable and to accelerate their adoption, we introduced India's first 60-month loan product. We continue to work with our finance partners to create exciting new plans for different consumer segments. We also continued to expand our retail footprint across India and now have 131 experience centres in 90 cities," he added further.

First Published Date: 01 Jul 2023, 17:09 PM IST
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