India’s obsession with three wheelers is well known. But what could be the reason that India even surpassed China despite being a smaller rival of china in the developing world. What is fueling this ever-lasting love for three wheelers? Let us analyze.
For decades, the lack of infrastructure remained a major problem for commuters in India and as always India has its own solutions for the problem. Indian’s need a vehicle with a high mileage and still need privacy and comfort of a car. This unique need resulted in an exploding three wheeler market in India which companies like Bajaj Auto and TVS motors tapped into from the very beginning. Auto-rickshaws are so common and popular mode of transport in the country and it is hard to find a road in India without an auto-rickshaw.
As the vehicle market is being taken over by the EV trend, auto-rickshaws are not left behind. The EV version of auto-rikshaws are also picking up momentum in India. As per the latest Statista data, India has recorded three wheeler sales of 0.6 millions in 2023 and it is way ahead of China which recorded a sales of 0.3 million vehicles in 2023.
You will find more infographics at Statista
As India leads the electric three-wheeler adoption among major economies, the sector’s growth trajectory looks strong and this might also give rise to lot of opportunities to electric OEMs and auto-ancillary companies.
