Brand-Wise 3-Wheeler Market Share Analysis By SIAM For April-November 2024
Modified On Dec 19, 2024 04:00 PM
The Society of Indian Automobile Manufacturers has released a report that highlights the 3-wheeler segment's brand-wise sales performance from April to November 2024.
Key Highlights
- From April to November 2024, Bajaj Auto held the highest market share of all three-wheelers, with an impressive 65.32%.
- During April-November 2024, Mahindra had a 57.51% market share and led the sub-segment in e-rickshaw sales performance with 8,373 domestic sales.
- In terms of e-cart market share, Atul Auto is at the top place with a 50.95% market share, having sold 1,422 units between April and November 2024.
The 3-wheeler segment sales report from April to November 2024 was released by SIAM (Society of Indian Automobile Manufacturers), the apex national organisation that represents India's main auto and motor vehicle manufacturers. The sales data includes the domestic sales (in numbers) and market share analysis (in percentage) of various Indian 3-wheeler brands.
The latest SIAM sales report examines the sales data of the leading 3-wheeler brands, such as Atul Auto, Bajaj Auto, Continental Engines or Baxy, Mahindra, Piaggio, TI Clean Mobility or Montra Electric, and TVS Motor, for the period of April to November 2024 in comparison to the domestic sales performance for 3-wheelers in April to November 2023.
Related Link: 3-Wheeler Segment: Retail Sales Growth Of 4.23% YoY In November 2024
3-Wheeler Market Share Analysis In April-November 2024
With a noteworthy market share of 65.32% from April to November 2024, Bajaj Auto topped the list in the total 3-wheeler market share. During this time, the company sold 3,33,088 three-wheelers in the Indian market. With 71,116 units sold, Piaggio is in second place and has a 13.95% market share.
Mahindra & Mahindra sold 58,483 units of 3-wheelers in India between April and November 2024, securing third place on the chart with a market share of 11.47%. Atul Auto sells 20,124 three-wheelers, giving it a single-digit market share of 3.95%. From April to November 2024, TVS Motor sold 17,484 units of 3-wheelers in the domestic market, representing a 3.43% market share.
To keep its 1% market share, Montra Electric, a division of TI Clean Mobility, sold 5,109 units of electric three-wheelers. With 4,515 units sold, Continental Engines' Baxy 3-wheelers had the lowest market share of 0.89%. Thus, from April to November of this year, these 7 brands sold 5,09,919 units, which is more than the 4,77,836 units sold during the same time the previous year.
Brand-Wise 3W Passenger Carrier Sales In April-November 2024
With a 70.96% market share and 2,95,719 units sold between April and November 2024, Bajaj Auto once again led the chart when looking at the market share analysis of the 3-wheeler Passenger Carrier sub-segment. With 50,033 units of 3-wheeler passenger carrier sales in India, Piaggio is in second place with a 12.01% market share.
Mahindra sold 40,940 units, giving it a single-digit market share of 9.82% in this subsegment. TVS Motor sold 17,231 units domestically between April and November 2024, giving it a 4.13% market share. In the same time frame, Atul Auto sold 6,876 vehicles, indicating a 1.65% market share in the 3-wheeler industry.
From April to November 2024, TI Clean Mobility recorded a 1.23% market share with 5,109 sales of its sole product, the Montra Electric Super Auto. Only 811 Baxy three-wheelers were sold in India between April and November 2024, giving it a marginal 0.19% market share. Overall, this subsegment's domestic sales increased as well, selling 4,16,719 units in the same months the previous year as opposed to 3,80,179 units.
Brand-Wise 3W Goods Carrier Sales In April-November 2024
Bajaj Auto led the 3-wheeler goods carrier subsegment with a 49.27% market share following 37,369 domestic sales from April to November 2024. With 21,083 units sold, Piaggio holds the second position with a 27.80% market share. During this time, Mahindra sold 8,443 units, obtaining an 11.13% market share.
Between April 2024 and November 2024, Atul Auto sold 7,719 units of 3-wheeler goods carriers, accounting for 10.18% of the market. With 984 units sold domestically, Baxy Three-Wheelers had a 1.30% market share. TVS Motor had a small market share of 0.33%, selling only 253 units of goods carriers. Compared to the 70,731 units sold during the same period last year, this segment's domestic sales grew to 75,851 units.
Brand-Wise 3W E-Rickshaw Sales In April-November 2024
With 8,373 domestic sales, Mahindra led the sub-segment in terms of e-rickshaw sales performance from April to November 2024, with a 57.51% market share. Atul Auto sold 4,107 e-rickshaws and increased its market share to 28.21%, behind Mahindra. Between April and November 2024, Baxy sold 2078 units, indicating a 14.27% market share. Ultimately, 14,558 e-rickshaws were sold in India during this time by these top 3 brands.
Brand-Wise 3W E-Cart Sales In April-November 2024
Atul Auto, which sold 1,422 units between April and November 2024, holds the top spot on the chart with a 50.95% market share in the context of e-cart market share. During this time, Mahindra sold 727 e-carts, contributing to a 26.05% market share. After 642 units were sold, the Baxy 3-wheeler's market share increased to 23%. During this time, 2,791 units of these brands' e-carts were sold domestically, which is more than the 2,249 units sold the year before.
In A Nutshell
The 3-wheeler segment saw domestic sales of 5,09,919 units from April to November of this year. Of these, 4,16,719 were sold by the passenger carriers sub-segment, 14,558 by e-rickshaws, 75,851 by goods carriers, and 2,751 by e-carts. In addition to dominating the goods carrier and passenger carrier sub-segments, Bajaj Auto also dominated the overall 3-wheeler market.
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