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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 · 1y 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.

Bajaj overtakes TVS to lead October 2W EV sales, Ather remains third

EntrackrEntrackr · 4m ago
Bajaj overtakes TVS to lead October 2W EV sales, Ather remains third
Medial

Bajaj overtakes TVS to lead October 2W EV sales, Ather remains third Bajaj Auto overtook TVS Motor to lead October 2025 E2W sales with a 21.69% market share, as festive demand drove a 37% month-on-month rise to 1.43 lakh units. Bajaj Auto surpassed TVS Motor to emerge as the top electric two-wheeler (E2W) seller in October 2025, commanding a 21.69% market share. Driven by festive demand, overall E2W sales rose over 37% month-on-month to 1.43 lakh units, compared to 1.05 lakh units in September. According to Vahan data, Bajaj Auto recorded a nearly 60% month-on-month surge in electric two-wheeler registrations, rising to 31,168 units in October from 19,689 units in September. TVS Motor slipped to the second position in October with 29,484 registrations, accounting for a 20.52% market share. Boosted by festive demand, the company still recorded a strong 30% month-on-month growth. Ather Energy retained its third position in October, rebounding from flat growth in September to post a robust 53% increase with 28,061 registrations, capturing a strong 19.53% market share. At the end of Friday’s trading session, Ather’s shares closed at Rs 688.75, giving it a total market capitalization of Rs 26,194.83 crore (approximately $2.97 billion). The company also surpassed Ola Electric in terms of market capitalization. After a 30% month-on-month decline in September, Ola Electric rebounded in October amid festive demand, posting nearly 20% growth with 16,034 registrations and capturing an 11.16% market share. However, its market share dropped sharply from around 30% a year ago. Ola Electric’s shares on Friday closed at Rs 50.24, giving it a market capitalization of Rs 22,160 crore ($2.51 billion). Hero MotoCorp held its fifth position with 11.09% market share, registering 15,934 units in October. Greaves Electric Mobility, which ranked sixth in October, recorded a strong 78.5% month-on-month growth, expanding its market share to 5.31%. BGAUSS also witnessed healthy demand for its electric scooters, posting a 29% month-on-month increase in sales. IPO-bound Pure EV and River Mobility secured the 8th and 9th positions, holding market shares of 1.19% and 1.11%, respectively. Meanwhile, Revolt Motors surpassed Kinetic Green to enter the top 10, registering a strong 92% month-on-month growth in October.

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

EntrackrEntrackr · 9m 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.

With 3.5% market share, Ola Electric slips out of top 5 EV 2W makers in Feb

EntrackrEntrackr · 16d ago
With 3.5% market share, Ola Electric slips out of top 5 EV 2W makers in Feb
Medial

Bhavish Aggarwal-led Ola Electric slipped out of the top five electric two-wheeler makers in February after its sales fell 47% month-on-month and its market share dropped below 4%. TVS Motor continues to hold the top spot. According to Vahan data, the overall electric two-wheeler market fell over 9% in February due to the shorter month, with total registrations at 1,11,680 units. Despite a 9% decline in sales, TVS Motor Company retained a 28.3% market share, with registrations of 31,600 units during the month. Bajaj Auto recorded sales of 25,323 units in February, compared to 25,717 units in November, while its market share rose to 22.67%. Ather Energy retained its third position during the period, although registrations declined 7% month-on-month to 20,581 units from 22,130 in January. The company held an 18.43% market share. Hero MotoCorp also maintained its fourth spot, despite a 6.26% month-on-month decline in sales. The company registered 12,512 units and held an 11.2% market share. Ola Electric sales continued to plunge in February, with volumes down over 47% month-on-month to 3,968 units. As a result, the company slipped out of the top five and its market share fell to 3.55%. Once a dominant player with more than 35% market share in 2024, Ola Electric has seen a sharp erosion in its position. Ola Electric’s sharp fall opened space for Greaves Electric Mobility to enter the top five electric two-wheeler sellers. Despite an 11.55% month-on-month decline in sales, Greaves Electric held a 4.23% market share during the month. BGauss, and River Mobility, e-Sprinto retained their positions at seventh, eighth, and ninth, respectively. However, their sales declined in February by 2.8%, 13.8%, and 42.15% month-on-month. Simple Energy entered the top 10 electric two-wheeler companies, replacing Pure EV. The company’s registrations rose over 45% during the month.

TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50%

EntrackrEntrackr · 3m ago
TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50%
Medial

TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50% TVS Motor regained the top spot in November 2025 with a 25.92% share of the electric two-wheeler (E2W) market. At the same time, Ola Electric’s sales plunged nearly 50%, pushing the company down to the fifth position. According to Vahan data, overall E2W sales fell over 20% to 1.15 lakh units in November from 1.44 lakh in October, with the previous month benefiting from festive demand. Despite the broader decline, TVS Motor held steady with 29,756 registrations in November. Bajaj Auto slipped to the second spot as its E2W sales fell 20% to 25,085 units in November, down from 31,392 units in October. Bajaj’s market share dropped to 21.85%. Ather Energy retained its third position in November but saw a 30% month-on-month decline, with registrations falling to 20,018 units from 28,405 in October. The company holds a 17.43% market share. Hero MotoCorp moved up to the fourth spot despite a 26.34% month-on-month decline in sales. The company registered 11,795 units in November and held a 10.27% market share. After recording 20% growth in October, Ola Electric saw a sharp near-50% month-on-month decline in November, with registrations dropping to 8,254 units from 16,013. The company slipped to fifth position in E2W sales, with its market share falling to 7.19% from 11.16% in October. Greaves Electric Mobility, which was sixth in October, saw a 25.4% month-on-month decline and registered 5,692 units in November, holding a 4.96% market share. BGAUSS followed in seventh place with 2,557 units and a 2.23% market share. Despite the overall decline in E2W sales, River Mobility and Kinetic Green posted positive growth of 8.8% and 12.34% respectively in November, securing the eighth and ninth positions. In contrast, Pure EV slipped to tenth place after a steep 37.84% drop in sales.

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