TVS iQube beats Bajaj Chetak in August sales
TVS Motor Company's iQube electric scooter has beaten Bajaj Auto's Chetak e-scooter in the electric scooter segment in August 2021. TVS iQube electric scooter has sold 649 units last month, as compared to 364 units of Bajaj Chetak.
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Interestingly, Bajaj Auto and TVS are only two mainstream two-wheeler manufacturers in India that sell electric scooters. Despite tough competition and sales in a limited number of cities, both these two electric scooters have grabbed attention from buyers.
The TVS iQube last month registered a massive 2721.74% growth last month compared to the same month a year ago. It sold only 23 units in August 2020. On a month-on-month basis, TVS iQube has recorded a 20.19% growth. It sold 540 units in July this year.
Bajaj Chetak on the other hand too recorded 89.58% YoY sales growth last month. The homegrown two-wheeler major registered 192 units in August 2020. However, Bajaj Chetak's MoM sales dropped 50.14% last month compared to July this year. It sold 730 units in July 2021.
The growth in sales of electric scooters in India is attributed to an increased preference for personal mobility and the high price of petrol and diesel. The covid-19 pandemic has boosted the demand for personal mobility, while the incessant hike in fuel prices have been driving consumers to buy electric vehicles, especially scooters. The electric scooters come with a higher price than their conventional fuel-powered counterparts, but the cost of ownership is much lower.
On the other hand, the chip crisis is impacting the sales of automobiles, especially electric vehicles. Bajaj Auto had to stop bookings for the Chetak electric scooter multiple times due to the supply chain crisis, especially for the non-availability of microchips that are essential for making the EVs.