Ather Energy revealed its sales for the 450X range of electric scooters in June 2023, and the company shipped 6,479 units in June.
The producer of electric two-wheelers showed an increase of 101 per cent year over year compared to June 2022.
However, month over month, the company’s volumes decreased by more than half.
They emphasized that the decrease was caused by the FAME II subsidy reversal in June, which resulted in price increases for the whole market for electric two-wheelers.1
Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “In June, we delivered 6479 units to our customers. The drop in numbers was expected, given the recent price increase on account of the lower FAME subsidy and consumers bringing their purchases forward into May.”
“While the drop was slightly more than we’d anticipated, we remain optimistic about an industry bounce-back over the next 2-3 months. We have always been of the view that the subsidy should be phased off gradually over time so that consumers can adjust to more realistic market prices. While it impacts short-term financials, this is certainly a step in the right direction from a long-term perspective.”
“To make EV scooters more affordable and to accelerate their adoption, we introduced India’s first 60-month loan product. We continue to work with our finance partners to create exciting new plans for different consumer segments. We also continued to expand our retail footprint across India and now have 131 Experience Centres in 90 cities,” he added.
The 450S electric scooter from Ather Energy has a starting price of INR 129,99.
In collaboration with IDFC First Bank, Bajaj Finance, and Hero FinCorp, the business also unveiled a 60-month loan package for electric two-wheelers, a first for the market.
Currently, Ather Energy has 131 Experience Centers in 90 cities.
- Economic Times Auto, ‘Ather Energy sells 6479 units in June 2023’, 1 July 2023, https://auto.economictimes.indiatimes.com/news/two-wheelers/ather-energy-sells-6479-units-in-june-2023/101414828