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TVS Motor tops E2W market in April, surpasses Bajaj Auto and Ola Electric

EntrackrEntrackr · 5m ago
TVS Motor tops E2W market in April, surpasses Bajaj Auto and Ola Electric
Medial

TVS Motor has emerged as the leader in India's electric two-wheeler (E2W) market for April 2025, surpassing Bajaj Auto and Ola Electric, which previously held the top spot. Last month, TVS sold 19,736 units, a 154% year-over-year (YoY) increase with a 22% market share, according to Vahan data. In comparison, Ola Electric sold 19,709 units, a 42% decline from the previous year, and held a 21% market share. Bajaj Auto saw a 151% YoY growth to 19,001 units and secured a 21% market share. Ather Energy saw a 31% increase in sales to 13,167 units, holding a 14% market share. Hero MotoCorp reported a remarkable 540% YoY growth, with 6,123 units sold and a 7% market share. While Ola Electric has increased its market share on a month-on-month basis, the decline in sales can be attributed to increased competition and strategic shifts. The Bhavish Aggarwal-led company also faced significant regulatory scrutiny and potential showroom shutdowns due to violations related to trade certificates and vehicle registrations in several states, including Maharashtra. However, the company said it is unaware of any official notice directing the closure of over 100 of its showrooms in Maharashtra. In contrast, traditional players like TVS, Bajaj, and Ather have capitalized on the growing demand for electric two-wheelers, with TVS achieving its best-ever April sales and leading the market for the first time. Bajaj Auto's performance was bolstered by strong sales of its Chetak e-scooter, which topped e-scooter sales in Q4 FY25. Ola Electric will also face competition from Ather Energy in the public market, as the latter recently closed its subscription window and is now set to be listed on the stock exchange.

Ola Electric’s two wheeler market share rises to 30% in October

EntrackrEntrackr · 11m ago
Ola Electric’s two wheeler market share rises to 30% in October
Medial

After consecutive declines in market share, electric two-wheeler manufacturer Ola Electric regained traction in October with sales increasing during the festive period. According to Vahan data, Ola Electric sold 41,605 units in October, up from approximately 24,726 units in September—a 68% month-on-month rise. Subsequently, the Bengaluru-based company's market share also climbed to 30% in October, compared to 27% the previous month. However, this figure remains lower than its earlier market shares, which stood at 32% in August, 39% in July, and 49% in June. In October 2024, the Indian electric two-wheeler market recorded total sales of 139,031 units. Ola Electric led the market with 29,890 units sold, followed by TVS Motors with 28,188 units, Bajaj Auto with 15,984 units, Ather Energy with 7,309 units, and Hero MotoCorp with 7,137 units. Ola Electric has been under significant scrutiny recently. Earlier this month, the Central Consumer Protection Authority (CCPA) issued a show-cause notice to the company for alleged violations related to consumer rights, misleading advertising, and unfair trade practices. Ola Electric has since addressed almost all after-sales complaints filed with the CCPA, according to a recent clarification. However, the Department of Consumer Affairs is reportedly investigating to confirm these resolutions. Customer complaints and a social media exchange between Ola’s CEO, Bhavish Aggarwal, and comedian Kunal Kamra have kept the company in the public eye. Financially, Ola Electric’s Q1 FY25 results show a modest 2.8% revenue increase, reaching Rs 1,644 crore, compared to Rs 1,598 crore in Q4 FY24, along with a 16.6% reduction in losses to Rs 347 crore. The company’s stock, however, is currently trading at Rs 80, nearly 50% below its peak of Rs 157.53 in mid-August, as the market awaits the Q2 results.

Ather surpasses Ola Electric in September 2W EV sales; TVS remained on top

EntrackrEntrackr · 7d ago
Ather surpasses Ola Electric in September 2W EV sales; TVS remained on top
Medial

Ather surpasses Ola Electric in September 2W EV sales; TVS remained on top TVS Motor retained its lead in the electric two-wheeler (E2W) market in September with a 21.6% share, while Ola Electric, which had climbed to the second spot last month by surpassing Bajaj, slipped to fourth position. According to Vahan data, TVS Motor maintained its top position in September despite a 7.41% month-on-month decline, recording 22,481 registrations. Overall electric two-wheeler registrations remained steady at 1,04,056 units in September. Bajaj rebounded to the second position in September with 19,519 registrations, capturing an 18.76% market share. This comeback follows a 40% slump last month, as the company posted a strong 65.11% month-on-month growth. Ather Energy surpassed Ola Electric in terms of sales and market share, registering 18,109 units with a 17.40% market share. However, its sales remained flat compared to the previous month. Ather, the second EV startup after Ola Electric to list on the Indian stock exchange, is currently trading at Rs 585.2, reflecting a rise of more than 23% from last month, with a market capitalization of Rs 22,279.39 crore ($2.53 billion). In September, Ola Electric registered 13,371 units sold, a nearly 30% month-on-month decline. Its market share fell to 12.85% from 18.19% last month. The company’s shares are currently trading at around Rs 56.7, giving it a market capitalization of Rs 25,022.64 crore ($2.8 billion) as of 11:55 AM. Hero MotoCorp moved down to the fifth position in September, capturing a 12.24% market share with 12,736 units sold. This reflected a 4.74% decline from the previous month. Greaves Electric Mobility retained the sixth position with a 4.1% market share, while BGAUSS saw strong demand for its electric vehicles, rising one spot with nearly 32% month-on-month growth in September. IPO-bound Pure EV, River Mobility, and Kinetic Green rounded out the top 10, with Kinetic Green registering a 28.4% growth in the last month.

TVS leads May EV 2W sales, Bajaj narrows gap as Ola Electric slips to third

EntrackrEntrackr · 4m ago
TVS leads May EV 2W sales, Bajaj narrows gap as Ola Electric slips to third
Medial

In May 2025, the electric two-wheeler (E2W) segment achieved retail sales of 100,266 units, the second-highest monthly figure of the year. TVS Motor led the market with 24,560 units sold, a 107% year-on-year (YoY) growth, securing a 24% market share. Bajaj Auto followed closely with 21,770 units, a 135% YoY growth, holding a 22% market share. Ola Electric experienced a 51% YoY sales decline to 18,499 units but maintained an 18% market share. Ola slipped to third position behind Bajaj. Ather Energy sold 12,840 units, representing a 109% increase, gaining a 13% market share and surpassing Ola Electric in Q4 FY25 revenue with Rs 676 crore compared to Ola's Rs 611 crore. Hero MotoCorp re-entered the EV market with a 191% sales increase to 7,164 units.

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