E-scooter growth declines as registrations fall by 24%: Report

The registrations of electric scooters of eight companies, which constitute 95% of the total market, witnessed a sharp decline of over 24% in May. As per the VAHAN data from the Ministry of Road Transport and Highways the eight companies have registered 32,680 vehicles till the evening of May 31st as against 43,098 vehicles that were registered in April.

As per the report of Business Standard, the automobile analysts believe that the decline is a result of initial pent-up demand for such vehicles in the market and the numbers will become more realistic in the days to come.

While Hero Electric has continued to slide downwards, Ola electric has ceded its number one position to Okinawa which it had conquered in April. The registration numbers in May witnessed Ola Electric hit 8704 marking a sharp decline of 31%. Okinawa, on the other hand, registered 8894 vehicles, which is 19% less than that of April.

Earlier, analysts had predicted that electric scooters would hit 0.7-0.8 million vehicles by the end of the calendar year. The present trends do not seem to be even a bit closer to the trends that were witnessed in February and March. While February had registered a spike of 15% in the registrations compared to that of January, March saw a remarkable growth of 58% than that was registered in February. Meanwhile, the present numbers highlight that the pent-up demand is soon going to meet the demands, and projections in further months will stabilize the scenario.