CNG 3 Wheelers Records 11% Retail Sales Growth YoY in Early 2024

The CNG 3-wheeler segment achieved retail sales of 1,73,480 units in the first half of 2024, marking 11 percent year-over-year growth. Bajaj Auto led the market, selling 1,50,587 units.

Key Highlights

Sales Growth: In H1 2024, the CNG 3-wheeler segment sold 1,73,480 units, an 11 percent increase over the previous year.
Leading OEMs: Bajaj Auto, TVS Motors, MLR Auto, and Mahindra Last Mile Mobility were the only 3-wheeler manufacturers reporting sales growth.
Market Share: Bajaj Auto dominated with an 87 percent market share, topping the retail sales report for H1 2024

CNG 3 Wheeler Sales Data

According to the latest Vahan retail sales data, the CNG vehicle industry, including 3-wheelers, saw significant growth in the first half of 2024. The CNG 3-wheeler category recorded sales of 1,73,480 units in H1 2024, an 11 percent increase from 1,56,961 units in H1 2023.
Bajaj Auto, TVS Motors, MLR Auto, and Mahindra Last Mile Mobility are the key players showing sales growth in the first six months of 2024. Bajaj Auto, with an 87 percent market share, continues to lead the CNG 3-wheeler sector.

Insights from the CNG 3-Wheeler Sales Report for H1 2024

The CNG 3-wheeler segment accounts for 31 percent of the overall CNG vehicle market and experienced an 11 percent YoY growth in H1 2024. Bajaj Auto's sales rose to 1,50,587 units in H1 2024 from 1,35,237 units in H1 2023, reflecting an 11 percent YoY increase.

Piaggio: Sold 10,076 CNG 3-wheelers in H1 2024, a 2 percent YoY decline from 10,239 units in H1 2023.
TVS Motors: Sold 8,028 units in H1 2024, a 43 percent YoY increase from 5,631 units in H1 2023.
Atul Auto: Sold 1,818 CNG 3-wheelers in H1 2024, a 16 percent YoY decline from 2,166 units in H1 2023.
Mahindra Last Mile Mobility: Sold 1,522 units in H1 2024, an 11 percent YoY increase from 1,371 units in H1 2023.
Baxy: Sold 443 units in H1 2024.
JS Auto: Sold 325 units in H1 2024, down from 659 units in H1 2023.
API Motors: Sold 203 units in H1 2024, a 66 percent YoY decline from 590 units in H1 2023.
MLR Auto: Sold 291 units in H1 2024, a 10 percent YoY increase from 264 units in H1 2023.
Continental Engines: Sold 167 units in H1 2024, a 76 percent YoY decline from 684 units in H1 2023

The Vahan sales report highlights an 11 percent retail sales growth in the CNG 3-wheeler market for the first half of 2024, indicating a rising demand for CNG-powered 3-wheelers in India. Bajaj Auto’s impressive 87 percent market share showcases its dominance, leaving just 13 percent for competitors.