Bajaj overtakes Ola Electric to become India's highest-selling E2W brand
What's the story
In a major turnaround in India's electric two-wheeler segment, Bajaj Auto and TVS Motor Company have beaten Ola Electric in December 2024 sales.
According to the government's Vahan data, Bajaj Auto topped the charts with a 25% market share after selling 18,276 units.
TVS Motor followed closely at second place with a 23% share and sales of 17,212 units.
Market shift
Ola Electric's market share dips below 20%
Ola Electric, a market leader for months, saw its market share drop to 18.7% in December. The company sold 13,769 units during the month.
However, despite the decline, Ola Electric retained its overall market leadership for the year with a strong 35% share.
The firm recorded annual retail sales of over four lakh units, a whopping 52% year-on-year increase.
EV competition
TVS Motor and Bajaj Auto's market performance
With its popular iQube scooters, TVS Motor grew its market share to nearly 22.7% by November 2024.
The company sold 26,971 units in November, a whopping 41% year-on-year increase from last year's 19,075 units.
Bajaj Auto also performed well with a 22% market share and retail sales of over 26,000 units in November—a stunning 120% year-on-year increase from just under 12,000 scooters sold in November the previous year.
Market standing
Ather Energy maintains 4th position
Ather Energy held on to its fourth position in the electric two-wheeler market by selling some 10,400 units in December 2024. This performance kept its market share intact at around 14%.