Ola Electric Dominates Market as Two-Wheeler Sales Surge by 24% in February 2024

Two Wheeler Sales 2024

In February 2024, the electric two-wheeler sales in India grew by 24% year-over-year, building on a 26% growth reported in January 2024.

There were 81,963 electric two-wheeler sales in February 2024, up from 66,053 in February 2023, representing a 24% increase year-over-year. Despite discounts, Ola Electric reports record sales.

As a result of the discount offered by Ola Electric in February 2024, the company reported a record sales of 33,722 electric two-wheelers. With this, Ola Electric commands a 41% market share in India’s electric two-wheeler market.

From 17,616 vehicles in February 2023 to 33,722 vehicles in February 2024, sales increased by 91% year-over-year.

Throughout the year, we have seen consistent growth in registrations and market share, and we have maintained our leadership position. According to Anshul Khandelwal, chief marketing officer at Ola Electric, this growth is due to an ever-increasing S1 scooter portfolio as well as customers becoming increasingly aware and willing to purchase quality electric vehicles at more affordable prices.

Bajaj Auto and TVS Motors maintain their positions-Two Wheeler Sales 2024

There were 14,499 vehicles sold by TVS Motors in February 2024, up from 12,568 vehicles sold in February 2023, showing a 15% year-over-year increase. The company currently controls 18% of the Indian electric two-wheeler market.

Recently, the company announced that it is expanding sales of electric two-wheelers to Nepal and Europe, which should further boost sales.

During February 2024, Bajaj Auto sold 11,618 vehicles, up from 2,517 in February 2023, registering a 360% increase in sales. The company holds a 14% share of the market. A slight decline is reported by Ather ahead of the launch of its scooters

Despite increased competition, Ather retailed 8,983 electric two-wheelers in February 2024, accounting for 11% market share.

At its Community Event in April, the company will launch its family scooter, Rizta, which will compete with the TVS iQube and the Bajaj Chetak.

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Editorial Director
I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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