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Jayant Mundhra
Ā ā¢Ā
Dexter Capital AdvisorsĀ ā¢Ā 1y
Olaās March sales = Sales of Feb + Atherās sales of March š š Another way to look at this? Olaās March sales > 3x of Atherās March sales! And it gets more exciting. .. A week back, March sales stood at 34k. At the end of 30th March, it stood at 44k. And it closed the month with 50k+ Fantastic numbers. .. This got me intrigued. Did this bump come from a particular state or region as in the case of Bajajās Chetak, which gets most of its sales from Maharashtra and Gujarat alone? So, I took the data for major States from the Govt of Indiaās VAHAN portal (shared below). Finding- The sales jumped very strongly across all major States! .. (Jump | Feb -> Mar) 2.8k | 4.9k -> 7.7k MH 2.3k | 4.7k -> 7.0k KAR 1.6k | 1.6k -> 3.2k OD 1.2k | 2.3k -> 3.5k RAJ 1.1k | 1.1k -> 2.2k AP 1.0k | 2.4k -> 3.4k GJ 0.8k | 2.8k -> 3.6k TN 0.8k | 1.6k -> 2.4k MP 0.8k | 1.1k -> 1.9k DL 0.8k | 0.7k -> 1.5k BH 0.5k | 0.1k -> 0.6k AS 0.4k | 1.7k -> 2.1k KR 0.3k | 0.9k -> 1.2k WB 0.2k | 0.7k -> 0.9k HR 0.2k | 0.5k -> 0.7k PJ 0.2k | 0.1k -> 0.3k J&K 0.0k | 0.3k -> 0.3k JK -0.5k | 4.7k -> 4.2k UP .. Leaving UP, in almost every State, sales jumped by 50% or more. Also, in States where sales were low, they shot up in multiples of Feb figures. That makes it clear, that this canāt just be about Ola Electric selling down scooters to the sister ride-hailing firm for e-bike taxis. The majority are buying what Olaās selling even if social media and print media sentiment says otherwise. This is true penetration. Plus, Olaās growth has been pretty consistent, irrespective of which month it is. .. Naysayers like me can always say: Itās because of deep discounting. But, that view doesnāt account for the fact that Ola has room to discount vehicles below the manufacturing price, because it has already attained ARAI certifications for two of its scooters. In simple language, for those two scooters, Ola will be receiving PLI benefits for every scooter sold, on top of the FAME-II subsidy, which most other players also get. Why? Because ARAI has certified that Ola has met a very high degree of localisation of supply chain and components, which even TVS and Bajaj (Chetak) havenāt met yet. Did you know this?
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