NEW DELHI: TVS Motor Company and Bajaj Auto may have grabbed the headlines this month, but the bigger story in India’s electric two-wheeler (e2W) market is the sharp slide of Ola Electric, and how Ather Energy is capitalizing.
According to recent data, Ola Electric’s retail sales in November plunged to a three-year low, with just 7,567 units sold (some sources put it at 8,254). That represents a steep fall from the company’s peak volumes in 2024, when monthly sales once touched 53,647 units.
As a result, Ola’s share of the e2W market slid to around 7.2–7.4%, pushing the company down to fifth place in November’s sales rankings.
Industry analysts mark this as a significant fall for a company that once commanded about 30% market share in the electric scooter segment.
Ather Energy Emerges as Big Gainer
Meanwhile, Ather Energy — long seen as one of the promising “new-age” EV players — surged ahead to claim the third spot in November’s e2W sales, trailing only TVS and Bajaj.
With around 18,356 units sold and a market share of roughly 17–18%, Ather’s recent performance underscores how rapidly the competitive dynamics of India’s EV scooter market are shifting.
Analysts attribute Ather’s rise to its focused strategy: lean operations, efficient supply-chain and dealership-based retail — in contrast to Ola’s more capital-intensive direct-store model.
What’s Behind Ola’s Decline?
Several interlocking factors appear to be contributing to Ola Electric’s downturn — and the broader reshuffling of the e2W market:
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Post-festival slowdown: November saw a broader slump in EV registrations compared with festive-season highs in October.
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Intense competition: Legacy two-wheeler makers like TVS and Bajaj — backed by extensive dealer networks and established brand trust — have aggressively pushed EVs, often at competitive price points.
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Operational & delivery challenges: Industry insiders suggest delays in new product rollouts, limited availability, and after-sales/service issues have dented consumer confidence in Ola.
For India’s EV Scooter Market
The November results signal a broader shift in India’s EV two-wheeler landscape. As newer firms like Ola lose ground, legacy manufacturers and disciplined rivals such as Ather are consolidating their hold.
For consumers, this could mean more choices, better after-sales support, and potentially more competitive pricing. For companies like Ola — it may be time for introspection and strategic recalibration if they wish to regain lost ground.
