Abstract-Axial flux Permanent Magnet (AFPM) machines, due to its high torque capability, high power density and compact size, are the most suitable candidates for in-wheel Electric Vehicle application. However, the presence of cogging torque in AFPM machines, resulting from the interaction of PMs and stator slots, introduces torque ripples, noise and vibrations which deteriorates the performance of the machine. To overcome this, several techniques for cogging reduction are utilized. Out of various techniques, rotor magnet shape variation is most commonly utilized. This paper investigates the effect of some preferred magnet shaping techniques in AFPM machines on several performance parameters such as magnetic flux density distribution in air gap, cogging torque, flux linkage, no loadinduced emf, emf harmonics, electromagnetic torque and torque ripple. These parameters were analyzed using 3-D Finite Element Method (FEM) based simulations. It was found that a maximum cogging reduction by 62.49% and output torque ripple by 63.25% were obtained by using short-pitched and skewed rotor magnets. This also resulted in a reduction of induced emf by 14.18% and electromagnetic torque by 15.17%.