Trends In India’s Three Wheeler Market: Jan- June 2022

The trends in the three-wheeler automotive market are quite significant since they project the growth and shortcomings in industries standard and the sector as a whole. As per the observations in the trends of the Indian three-wheeler market (Jan 2022 to June 2022), during the first half of the calendar year 2022 (H1 2022), it has been calculated that 2,57,656 units of three-wheelers, in total, have been sold in India. This projection is in both the cargo and passenger three-wheeler sector. 

Interestingly, 2,08,845 units of passenger three-wheelers and only 48,811 three-wheeled cargo vehicles were sold out of the aforementioned 2,57,656 units of three-wheelers In India. What’s more interesting is that out of the 2,57,656 units of three-wheelers sold, a whopping 1,33,137 were electric three-wheelers. The rest were 70,117 CNG and 31,426 diesel models of three-wheeled vehicles.  

Further, in the passenger, category 3 wheeled vehicles, the electric powertrain driven three wheelers dominated the sales chart with 56 per cent (1,17,809 units)- up from 51 per cent volume sold in H2 2021(July 2021 to Dec 2021). This shows a positive Compounded monthly Growth of Rate (CMGR) of 7.1 per cent is achieved. 

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Now, if we look at the Cargo three-wheelers category, a total of 48,811 units of three-wheeled vehicles were sold in the first six months of 2022. Diesel-powered three-wheeled vehicles recorded the highest sales figures within the Cargo Category three-wheelers. Diesel-powered cargo 3-wheelers registered 42 per cent in H1 2022 with 20,711 units and a negative CMGR of -0.7 per cent over the period. This is good news for those aiming at low carbon emissions because a decline in sales of diesel-powered vehicles is registered. The volume share of Diesel powertrain-equipped cargo vehicles was 51percent in H2 2021. 

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Furthermore, In the passenger 3-wheeler sector, ‘YC Electric’ which is a mass producer of L3 (low speed) 3 wheelers registered the maximum sales with 11,545 units. Meanwhile, within the cargo three-wheeled vehicles sector, Mahindra Electric rules the sector with 2,002 units sold followed by Piaggio with 1,429 electric three-wheelers sold.

Nonetheless, India’s electric three-wheeler market could lead in the near future in terms of sales because there are already around 350 manufacturers in the passenger category and 200 companies in the cargo category vehicles while these numbers are said to increase significantly in the country. 

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