Impending price hike helps Ather Energy register 357% sales growth in May 2023
Ather Energy registered a year-on-year hike of 357 per cent in sales in May 2023 with 15,256 units sold. The electric two-wheeler maker announced that the strong volumes were a result of the impending price hike that arrived on June 1, 2023, owing to the revision of FAME II subsidy norms. Under the new norms, the Ather 450X saw a price hike of ₹30,000 with the standard version now retailing at ₹1.45 lakh, while the 450X Pro Pack version is priced at ₹1.65 lakh. All prices are ex-showroom, Bengaluru.
The FAME II subsidy has been revised to ₹10,000 per kWh with a maximum cap of 15 per cent of the ex-factory price. This previously stood at ₹15,000 per kWh with a maximum cap of 40 per cent of the vehicle’s ex-factory price. The revision has affected nearly all electric two-wheeler makers, who have announced price hikes from June onwards. Ather, like other OEMs, reached out to customers well in advance to inform them of the impending price hike in order to ensure substantial savings.
Speaking about the sales in May 2023, Ravneet Singh Phokela - Chief Business Officer, Ather Energy, "We have recorded the best monthly sales in May '23, with retail sales of 15,256 units, registering 357 per cent year-on-year growth. The market gained strong momentum this month, which can be attributed to the growing underlying demand, fuelled further by the news of the impending revision of the FAME subsidy. This led to some consumers bringing forward their purchases, in order to avail the higher subsidy amount. We hope to maintain this momentum as the manufacturing industry and its ecosystem continue to grow. As we continue to enhance the charging infrastructure, we installed our 100th Ather Grid fast charger in Bengaluru, ensuring convenient and accessible charging for our customers."
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Ather was the third-largest electric two-wheeler player by volume in May. The top spot stays with Ola Electric, while TVS occupied the second spot with over 17,000 units of the iQube sold. The company continues to be in expansion mode with new experience centres and charging stations across the country. The company also launched the more affordable 450S as its new entry-level offering.