Ola Electric, led by Bhavish Aggarwal, faced a significant setback in February as it slipped out of the top five electric two-wheeler manufacturers. The company’s sales plummeted by 47% month-on-month, causing its market share to fall below 4%. This decline allowed TVS Motor to maintain its leading position in the market.
Despite an overall 9% decrease in the electric two-wheeler market in February, TVS Motor Company held a dominant 28.3% market share, with 31,600 units registered during the month. Bajaj Auto, on the other hand, experienced a rise in market share to 22.67% with sales of 25,323 units.
Ather Energy retained its third position, although its registrations decreased by 7% to 20,581 units. Meanwhile, Hero MotoCorp maintained the fourth spot with a 6.26% decline in sales, registering 12,512 units.
Ola Electric’s struggles continued with a sharp decline in sales to 3,968 units, resulting in the company dropping out of the top five and holding a meager 3.55% market share. This marks a significant fall for the company, which previously held over 35% market share in 2024.
With Ola Electric’s decline, Greaves Electric Mobility entered the top five, holding a 4.23% market share despite an 11.55% drop in sales. Other players like BGauss, River Mobility, and e-Sprinto also saw declines in sales during the month.
Source: Entrackr : Latest Posts