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

EntrackrEntrackr · 4m 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.

TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third

EntrackrEntrackr · 16d ago
TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third
Medial

TVS retains top spot in August 2W EV sales; Ola Electric overtakes Bajaj, Ather rises to third TVS Motor retained its leadership in the electric two-wheeler (E2W) segment in August, securing a 23.09% market share, as overall industry volumes grew 1.4% month-on-month to 1,04,306 registered units. According to Vahan data, TVS registered 24,087 units in August, an 8.38% month-on-month increase over July. Ola Electric jumped to the second position, overtaking Bajaj, with an 18.19% market share after registering 18,972 units in August, up 6.3% from last month. Following this development, its share price surged over 11% today to around Rs 60.2 with a market cap of Rs 26,464.98 crore ($3 billion). Ather Energy moved up to the third position with a 17.12% market share, narrowing the gap with Ola Electric by registering 17,856 units in August, a 10% rise from last month. On a year-on-year basis, it recorded over 60% growth in registrations. Ather, which became the second EV startup after Ola Electric to list on the Indian stock exchange, is currently trading at Rs 475, up over 5% today, with a market capitalization of Rs 17,654.59 crore ($2 billion). Hero MotoCorp climbed one spot to fourth position with a 12.76% market share, registering 13,313 units in August, a strong 26.92% month-on-month growth over July, showing momentum in demand for its electric two-wheelers. Bajaj Auto slipped to fifth position in August from second, posting a sharp 40.3% month-on-month drop with 11,730 units. Its market share fell to 11.25% from 19.10% in July. Greaves Electric Mobility and IPO-bound Pure EV held their sixth and seventh positions in the market, posting month-on-month growth of 7.17% and 5.39%, respectively. BGauss, River Mobility, and Kinetic Green also reported solid month-on-month growth of 7.97%, 9.23%, and 23.51%, respectively.

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

EntrackrEntrackr · 7m 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.

Ola Electric sells 25,000 units in Feb, expands market lead with 28% share

EntrackrEntrackr · 6m ago
Ola Electric sells 25,000 units in Feb, expands market lead with 28% share
Medial

Ola Electric sells 25,000 units in Feb, expands market lead with 28% share EV manufacturer Ola Electric on Friday said that it has sold over 25,000 units in February 2025, maintaining its 28% market share in the electric two-wheeler (2W) segment. In January, Ola Electric reclaimed its top spot in the electric two-wheeler segment with a 24.91% market share. The Bhavish Aggarwal-led company made a comeback after Bajaj and TVS Motor overtook it in December. “With our strong scooter portfolio and 4,000-store network, we are seeing growing demand from Tier 3 and 4 towns. With Roadster X deliveries set to begin next month, we aim to accelerate EV adoption further,” said a company spokesperson in a stock exchange filing. As per the latest VAHAN data (12 PM, Friday), Bajaj has sold 20,006 units, followed by TVS with 17,603, Ather Energy with 11,129, and Greaves Electric Mobility with 3,492 units. The data currently shows 8,390 units for Ola Electric, which is expected to be updated by the end of the day. In a strategic decision, Ola Electric recently renegotiated its contracts with vehicle registration agencies. The company stated that this may temporarily affect VAHAN portal numbers, but the move is aimed at reducing costs and optimizing the registration process. Ola’s Futurefactory and EV hub in Tamil Nadu played a key role in its growth, along with its Battery Innovation Centre (BIC) in Bengaluru. With over 750 company-owned stores, Ola Electric claims that it has the largest EV retail network in India.

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