Despite achieving this milestone, the company experienced a – 15% month-on-month growth and holds a 4% market share.
By capitalizing on these opportunities, Wardwizard Innovations is poised to maintain its upward trajectory in the EV market.
With a negative -77% month-on-month growth and a market share of just 1%, the company faces challenges in the competitive EV market.
The company sold 891 units in April 2024, with a 9% month-on-month growth and a 1% market share.
The company sold 711 units during the month, experiencing a negative -77% month-on-month growth, with only a 1% market share.
To a surprise, Greaves Electric, previously ranked eighth, has surged to the fifth position in the EV market in the month of April. Bolstered by the launch of the new Nexus family scooter on April 30, Greaves Electric Mobility recorded sales of 2,511 units in April. Despite achieving this milestone, the company experienced a – 15% month-on-month growth and holds a 4% market share. Notably, Greaves Electric recently made headlines for testing its newly launched Nexus scooter, covering an impressive distance of 1 lakh km, including a rigorous 10,000 km journey from K2K.
6] WARWIZARD INNOVATIONS
Wardwizard Innovations, securing the sixth position, has notably experienced a surge in demand, marking its best monthly sales figures for the first four months of 2024 with 1,205 units sold in April. The company which was at the last position previously, has now jumped up to the sixth position. This positive trend reflects an 18% month-on-month growth and a 2% market share. Looking ahead, the company stands to sustain its impressive performance by strategically focusing on expanding its product portfolio and refining its business strategies. By capitalizing on these opportunities, Wardwizard Innovations is poised to maintain its upward trajectory in the EV market.
7] HERO MOTORCORP
Hero MotoCorp has slipped to the seventh position in April, recording sales of only 946 vehicles. With a negative -77% month-on-month growth and a market share of just 1%, the company faces challenges in the competitive EV market. Hero MotoCorp recently introduced the Vida Advantage offer, providing customers with an enhanced ownership experience through benefits and services worth INR 27,000, valid for 5 years. This initiative aims to attract more customers and improve the brand’s standing in the market amid increasing competition.
8] Shema E- Vehicle and Solar
April 2024 has a new OEM ranked eighth on the list. Odisha-based Shema E-Vehicle and solar Pvt, Ltd. is the fresh entrant on the list. The company sold 891 units in April 2024, with a 9% month-on-month growth and a 1% market share. The company sells high-speed scooters named Nova, Eagle Quikk, Eagle +, and Tuff +. Its low-speed scooters include Eagle, Tuff, Bold, and Hobby. Shema Electric looks forward to sustaining its impressive performance by strategically expanding its product portfolio and refining business strategies. With a focus on these opportunities, the company is poised to maintain its upward trajectory in the EV market.
9] REVOLT INTELLICORP
Revolt Intellicorp achieved its best-ever sales in April 2024, securing the ninth position by selling 743 units. The company experienced a positive 25% month-on-month growth while maintaining a market share of 1%. Notably, Revolt Intellicorp recently expanded its network by adding 115 dealerships, including 15 new outlets across India.
10] BGAUSS AUTO
Bgauss Auto, which held the seventh position last month, has slipped to the last position in April. The company sold 711 units during the month, experiencing a negative -77% month-on-month growth, with only a 1% market share. The reduction in subsidies appears to have largely impacted the company. Bgauss Auto should actively focus on product enhancement, smart strategies, marketing initiatives, etc., to ramp up its standing and sales in the competitive EV market.
