New Delhi. The alarm bells have now rung for the country’s leading electric two-wheeler manufacturer, Ola Electric. The sales figures for electric two-wheelers in September 2024 were quite surprising. Sales of Ola Electric, the market leader in electric scooter sales, have fallen tremendously while Bajaj Auto’s sales have increased rapidly to land at number 2. Bajaj’s Chetak electric scooter, with a market share of 21.4%, has now almost reached Ola Electric’s market share of 27.6%.

At the same time, TVS Motor also took third place in the race alongside the iQube electric scooter, giving both companies tough competition. Let us know how sales of electric two-wheelers performed in the domestic market in September.

Ola lags behind, Bajaj beats TVS
According to the vehicle portal, Ola Electric sold 22,821 units between September 1 and 29, 2024, while Bajaj Auto overtook TVS with 17,507 units sold. During this period, TVS sold 16,351 units. This is the first time that Bajaj has overtaken TVS in monthly sales and with this, Bajaj has established its strong position in the electric two-wheeler market.

Ola’s market share is below 30%
Ola Electric, once the dominant player in the industry, has seen a sharp decline in its market share. The company had a market share of 47% in September 2023, which was only 27.6% in September 2024.

The company’s sales fell by about a third year-on-year. A company that reflects increasing competition and challenges in customer service. Ola’s sales in September 2024 were lower than August 2024 when the company had sold more than 27,000 units.

Bajaj improves Chetak’s retail network
Bajaj Auto’s increasing success is attributed to the company’s competitive pricing strategy and better distribution model. Earlier, the Chetak scooter was sold only through Chetak special showrooms and KTM outlets, but now the company is also selling it through its existing motorcycle dealers.

Meanwhile, Ather Energy has emerged as the only non-traditional manufacturer to achieve significant market growth. Ather sales have increased by 75% and the company sold more than 11,000 units in September, increasing the company’s market share to around 14%.

Tags: car news, Electric vehicles