One of the popular 2-wheeler manufacturers, Ather has recently released their sales report for June 2023. As per the report, the manufacturer has registered a 57% dip in their cumulative sales which is a significant decline.
The Sales Analysis
Ather Energy recorded a total sale of 6,479 units in June 2023. This marked an impressive growth rate of 101% compared to June 2022. However, it is important to note that the sales figure for June 2023 is significantly lower than the previous month. The manufacturer recorded a total sales of 15,256 units in May 2023 which indicates a decline of 57 percent in June 2023.
The revision of FAME-II subsidies and regulations has contributed to the decrease in sales of Ather Energy. Furthermore, the manufacturer has recently hiked the prices of their 2-wheeler range which contributes to the reduction in their sales. Despite of temporary decline in the EV industry, Ather Energy continues to be a prominent player in the market. The sales figures reflect both the positive growth and the impact of changing subsidy policies.
The Price Hike of Ather Energy Range
At the start of June 2023, all the electric vehicle manufacturers have hiked the prices of their range of products. Ather Energy was also a part of this group with an increment of Rs. 20,500 to Rs 30,000 across the product line-up. To provide a more affordable and accessible option to customers, Ather has announced a new conceptual 450S scooter. This scooter will enter the Indian market soon with an expected price tag of Rs. 1.29 Lakhs Ex-showroom Delhi.
Official Statement
Commenting on the sales of July 2023, Ravneet Singh Phokela, Chief Business Officer of Ather Energy said, “In June ’23, 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.”