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

Entrackr · 23d

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.