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Ola Electric's two-wheeler market share falls to 27% in September

EntrackrEntrackr · 1y ago
Ola Electric's two-wheeler market share falls to 27% in September
Medial

Ola Electric, an electric two-wheeler manufacturer, has seen a decline in its market share over the past three months. The Bengaluru-based company’s market share dropped to 27% in September, down from 32% in August and 39% in the previous month. Ola Electric achieved its highest market share during Q1 FY25 (June quarter), reaching a milestone of 49%. As per Vahan data, Ola Electric sold 23,965 units in September compared to 26,928 units in August and 40, 814 units in July. The Bhavish Aggarwal-led firm also hit an 11-month low of 23,965 units. Baja Auto, TVS Motors, Ather Energy and Hero MotoCorp were the next on the list with 21.27%, 20.26%, 14% and 5% market shares, respectively. This drop in market share follows a report from Goldman Sachs, which projected that Ola Electric is expected to reach EBITDA breakeven by the fiscal year ending March 2027. The decline in sales can be attributed to several factors, including customer complaints, malfunctioning hardware, and software glitches, among others. According to a recent report, Ola Electric received approximately 80,000 customer complaints per month. For the June quarter (Q1FY25), Ola Electric’s revenue from operations grew only 2.8% to Rs 1,644 crore in Q1 FY25 from Rs 1,598 crore in Q4 FY24. The company, however, managed to control its losses by 16.6% to Rs 347 crore in Q1 FY25. During the last fiscal year (FY24), it reported Rs 5,010 crore revenue and Rs 1,584 core loss. Ola Electric, which was listed on the stock exchange in early August, saw its share price drop below Rs 100 on Monday for the first time since its listing. Currently, its shares are trading at around Rs 102 each. The initial public offering (IPO) was priced at Rs 76 per share.

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Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales

Economic TimesEconomic Times · 1y ago
Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales
Medial

In FY24, Ola Electric, TVS Motors, and Bajaj captured larger market shares in the electric scooter market, according to government data. Ola Electric held a 35% share with 3,28,254 registrations, followed by TVS Motors (19%) and Bajaj Auto (12%). The overall non-transport electric two-wheeler market grew by 30% to 9,41,583 registrations. Okinawa and Hero Electric, however, lost market share and face potential legal action for not repaying subsidies. Despite a temporary decline due to reduced subsidies, the market rebounded. Ola Electric extended warranties and introduced plans to set up fast-charging points and expand service centers. Ola Electric's monthly sales reached a record high of 53,184 registrations in March.

Ola Electric’s 2W market share declines to 24.5% in November

EntrackrEntrackr · 11m ago
Ola Electric’s 2W market share declines to 24.5% in November
Medial

India's electric two-wheeler market recorded a 29% year-on-year growth in November, with total sales exceeding 118,000 units. However, on a month-on-month basis, the segment registered a nearly 15% decline compared to October, according to Vahan data. Ola Electric retained its position as the market leader with 29,191 units sold, which accounted for 24.54% of the EV two-wheeler market. The Bhavish Aggarwal-led company’s market share has seen fluctuations over the past six months. In October, its market share rose to 30% from 27% in September. However, this remains lower than its earlier shares, which were 32% in August, 39% in July, and a peak of 49% in June. TVS Motor and Bajaj Auto remained in close competition in November with sales of 28,200 and 27,400 units, respectively. The two companies also closed the gap with Ola Electric, capturing 23% and 22% of the market share, respectively. Ola Electric’s arch rival Ather Energy secured the fourth position with 15,800 units, while Hero MotoCorp's electric division recorded 3,300 units. Ather, which is also on the verge of listing on the stock exchange, controls 11% share in EV two wheelers space. Similar to its performance in the EV two-wheeler market, Ola Electric’s share price has also seen fluctuations in recent months. In November, its shares were trading at Rs 72.72, nearly 54% lower than their peak of Rs 157.53 in mid-August. However, last week, the stock surged by nearly 30% following the announcement of a new scooter range. This new range, designed primarily for commercial use in commerce and deliveries, is expected to boost the company’s sales in the coming months. In Q2, Ola Electric recorded a 26% decline in its operating revenue to Rs 1,214 crore when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. The company posted a net loss of Rs 495 crore during the September quarter.

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

EntrackrEntrackr · 27d 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.

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