Expect the unexpected
The price band of Rs 60k to Rs 90k seems to be emerging as a sweet spot for punters in the market for electric vehicles.
When a volume selling two-wheeler brand like Hero MotoCorp launched its electric ambitions with its Vida e-scooters, market pundits expected the prices to reflect the band where it’s getting weaker in the ICE segment.
On the contrary, Vida is being pitched and priced as a premium product with no specific volume intentions in mind. How this strategy will work, only time will tell.
Monthly sales figures can tell you a lot if you can read them, especially in-between the lines. We have been monitoring them to understand and evaluate what’s happening in the automotive and two-wheeler market all the time. What has caught our notice from last month’s figures is something quite interesting and unusual.
The surprise element is that in the two-wheeler market it has never been so clear and so fast. The price band of Rs 60k to Rs 90k seems to be emerging as a sweet spot for punters in the market for electric vehicles. The figures also reveal a drop in motorcycle sales in a particular category where scooters have made significant gains. Once a dominating name in the motorcycle business, it finds itself facing a double whammy -- stiff competition in ICE and budget electric scooters.
Another idea which could catch up with automakers is strong hybrids. The industry has the technology and willingness to invest and market analysts reckon that there’s a good chance the resilient automotive sector will be able to meet the tougher emission standards with application of advanced hybrid technologies.
We also look at the other stories in the automotive ecosystem that made headlines in the past fortnight.
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