The electric two-wheeler (E2W) market in India has witnessed a significant decline in registrations, signaling shifts in the e-mobility landscape. According to Vahan data, the overall E2W registrations decreased by 9% in February, with Ola Electric experiencing a 47% drop in sales compared to January.
Ola Electric, once a leading player in the market, has now fallen to the sixth position in market share, trailing behind Greaves Electric Vehicles. Despite the launch of the ‘Ola Insiders’ program to enhance customer benefits, the brand faced an over 84% sales drop year-over-year, primarily due to concerns over after-sales services.
While TVS Motor retained its top position in E2W sales, recording a 9% decrease in registrations, Bajaj Auto is gradually narrowing the gap by only experiencing a slight 1.5% decline in February registrations. Ather Energy, the third-largest E2W manufacturer, also saw a 7% month-over-month decrease in sales.
This downward trend reflects the mounting pressure on EV makers in India, following a period of growth supported by subsidies and increasing interest in electric vehicles. As the market continues to evolve, companies will need to focus on enhancing customer trust and service quality to navigate these challenging times.
Source: Inc42 Media