Maggie
Discover the reasons behind the dramatic drop in electric scooter sales and why luxury models defy the trend.
- Detailed analysis of the electric scooter market downturn in 2023
- Insights into the surge of high-end electric scooters
- Exploration of average selling price trends and their implications
- Understanding consumer behavior and intermodality within the micro-mobility sector
The state of the electric scooter market
In a recent release, industry data revealed a significant decline in electric scooter sales, marking a 10.67% drop from the previous year, with only 678,000 units sold in 2023 compared to 759,000 units in 2022. This downward trend is not new; it's a continuation from 2021 when sales decreased by approximately 16%, confirming a two-year consecutive fall in market volume.
Sales performance recap from past years
Tracing back through historical data:
- 2017: Saw 101,700 units sold
- 2018: Witnessed an increase to 233,900 units
- 2019: Marked a significant rise to 478,000 units as electric personal mobility devices (EPMDs) became regulated under traffic laws
- 2020: Climbed up to 640,000 units sold
- 2021: Reached a peak with 908,000 units
The decline to 678,000 electric scooters sold in 2023 is stark when viewed against this backdrop.
The rise of premium electric scooters
Experts suggest that while overall sales are down, there's been an upscale shift towards more expensive models. Electric scooters priced above $800 have seen a remarkable uptick in success. With children under age 12 now prohibited from riding electric scooters – safety and quality seem to be driving adult consumers towards higher-end options. As these trends unfold, models like Segway Max G2 and Xiaomi Electric Scooter 4 Ultra are likely playing influential roles.
Average selling price trends
The average selling price (ASP) has unfortunately not mirrored this high-end sales surge. In fact, ASP fell by about 9.9% to $408 in 2023 from higher levels previously exacerbated by increased supply chain costs including maritime freight charges.
User behavior and intermodality insights
Evidence suggests that one third of electric scooter owners engage in intermodality – they pair their scooters with other forms of transport like subways or commuter trains. Between 2020 and 2023 over three million scooters were sold for total revenue exceeding $1.14 billion.
