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Jayant Mundhra
•

Dexter Capital Advisors • 1y

Ola’s March sales = Sales of Feb + Ather’s sales of March 😅😅 Another way to look at this? Ola’s March sales > 3x of Ather’s 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 Bajaj’s Chetak, which gets most of its sales from Maharashtra and Gujarat alone? So, I took the data for major States from the Govt of India’s 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 can’t just be about Ola Electric selling down scooters to the sister ride-hailing firm for e-bike taxis. The majority are buying what Ola’s selling even if social media and print media sentiment says otherwise. This is true penetration. Plus, Ola’s growth has been pretty consistent, irrespective of which month it is. .. Naysayers like me can always say: It’s because of deep discounting. But, that view doesn’t 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) haven’t met yet. Did you know this?

6 Replies

Replies (6)

Anonymous 4

Hey I am on Medial • 1y

This post is not only well written but also well presented. Good work Sir!! Looking forward to more such amazing posts from you.

Anonymous 1

Hey I am on Medial • 1y

This high degree of localization in the supply chain and components gives Ola an advantage over competitors like TVS and Bajaj (Chetak), who have yet to reach the same level of localization. This information highlights Ola's strategic approach to the market and its commitment to providing affordable electric scooters to consumers.

Anonymous 6

Hey I am on Medial • 1y

Should I subscribe to the ipo 🫣

Anonymous 5

Hey I am on Medial • 1y

Great post!

Anonymous 3

Hey I am on Medial • 1y

it is important to consider the competition in the electric vehicle market, as other players may also achieve higher localization levels and become eligible for similar benefits. To maintain its competitive edge, Ola should focus on continuous innovation, improving product quality, and providing exceptional customer service to ensure customer loyalty and sustainable growth in the long run. Currently the way they provide service after sales, is the worst.

Anonymous 2

Hey I am on Medial • 1y

One critical aspect to consider when analyzing Ola's electric scooter sales growth is the potential impact of subsidies and incentives on the long-term sustainability of the business. While the current success can be partly attributed to the PLI benefits and FAME-II subsidy, it is essential to evaluate how the company will perform when these incentives are reduced or phased out.

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•

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