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TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric

EntrackrEntrackr · 1d ago
TVS maintains lead in 2W EV sales in July; Ather narrows gap with Ola Electric
Medial

TVS Motor retained its position as the market leader in the electric two-wheeler (E2W) segment in July, despite a month-on-month decline in overall market volumes. According to Vahan data, TVS registered 22,225 units during the month, securing a 21.6% market share. However, this marked a 12.73% decline from June, when the e-two wheel leader recorded 25,468 unit registrations. Bajaj maintained its second position with a 19.10% market share in July, with sales of 19,650 electric two-wheelers. This reflects a sharp month-on-month decline of 15.16% compared to 23,161 units sold in June. After leading the market in 2023 and 2024, Ola Electric’s dominance continues to wane. Its market share dropped sharply to 17.35% in July 2025 from 38.83% a year ago. The Bhavish Aggarwal-led company recorded 17,848 units during the month, a steep 57.29% year-on-year decline from 41,802 units sold in July 2024. A sharp drop in month-on-month volumes and users' complaints have erased over 45% of Ola Electric’s market cap from Rs 33,521 crore ($3.95 billion) to Rs 18,190.2 crore ($2.14 billion). The stock now trades at around Rs 41.2, down nearly 45% from its listing price of Rs 76. It had touched an all-time high of Rs 157.4 just after listing. Ather Energy retained the fourth position with a market share of 15.78%, registering 16,231 units in July 2025. This reflects a 10.59% month-on-month growth compared to 14,677 units recorded in June. Ather, which became the second EV startup after Ola to be listed on the stock exchange, is currently trading at Rs 353.75, up from Rs 328 at the time of listing. Hero MotoCorp held the fifth position in July with a market share of 10.20%, registering 10,489 units. The company recorded a strong month-on-month growth of 36.27%, indicating growing demand for its electric two-wheelers. Greaves Electric Mobility held the sixth position in July with a 4.08% market share. IPO-bound Pure EV followed in seventh place with a 1.64% share, recording an 18.12% month-on-month growth. River Mobility and Kinetic Green also posted strong month-on-month growth of 20.4% and 59.92%, respectively. Notably, Kinetic Green broke into the top 10 electric two-wheeler makers in July.

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

EntrackrEntrackr · 2m 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.

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

EntrackrEntrackr · 8m 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.

Ola Electric back on top with 25% EV 2W market share in January

EntrackrEntrackr · 6m ago
Ola Electric back on top with 25% EV 2W market share in January
Medial

Ola Electric has reclaimed its leading position in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share in January. According to Vahan data, the company sold 24,330 units during the month. TVS Motors took the second spot, selling 23,788 units, just slightly behind Ola. Bajaj Auto, another prominent player in the Indian automobile sector, secured a 21.80% market share with 21,294 units sold in January. This marks a significant turnaround for Ola Electric, as both Bajaj and TVS Motor had surpassed the company by a considerable margin in December. Ola attributes its strong performance to its robust S1 portfolio and the recent expansion of its sales and service network, which now spans 4,000 stores nationwide. An Ola Electric spokesperson commented, “It has been an impressive start to the year for us as we emerged as a clear leader in the EV 2W industry yet again. While we are committed to further cementing our position in the segment, our recently launched Gen-3 portfolio has set new benchmarks in performance and reliability across the 2W industry in India. With our diverse EV propositions across premium and mass-market segments and expansion of our sales network beyond tier-1 and tier-2 cities, Ola Electric will continue to lead India’s transition towards #EndICEAge.” Ather Energy, a Bengaluru-based startup, recorded sales of 12,895 units, capturing a 13.20% market share. The company, led by Tarun Mehta, is also nearing its initial public offering (IPO) after receiving approval from the Securities and Exchange Board of India (SEBI). Beyond the top four players, companies like Greaves Electric Mobility (3,611 units) and PURE EV (1,650 units) were making efforts to carve out their niche in the competitive market. Hero Motocorp, despite its stronghold in the petrol two-wheeler segment, continued to face challenges in the EV space, selling only 1,615 units. Bgauss Auto (1,451 units) and Revolt Intellicorp (1,060 units) maintained their dedicated customer bases, while Kinetic Green Energy trailed with just 806 units sold.

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