Electric two-wheeler sales in September 2024 showed a significant rise, with retail figures reaching 83,775 units, marking a strong recovery compared to earlier months.
A notable highlight from the month is Bajaj Auto’s remarkable performance, selling 18,933 Chetaks and surpassing TVS Motor Co. (17,865 iQubes) to claim the second spot.
This achievement is particularly commendable for Bajaj Auto. Meanwhile, Ola Electric, though retaining its top position, experienced a drop in market share to 29.97% from 39% in July.
The top five companies in September are as follows:
Ola Electric
Bajaj Auto
TVS Motor
Ather Energy
Hero Motocorp
Let’s explore the sales figures of the top 10 companies in September 2024
EV Manufacturer
AUG
SEP
TOTAL
MoM Growth (SEP)
Market Share (CY2024)
Ola Electric
26,928
23,965
314,761
-22.82%
29.97%
Bajaj Auto
16,650
18,933
119,759
7.02%
11.39%
TVS Motor Co
17,441
17,865
144,354
0.87%
13.75%
Ather Energy
10,919
12,579
85,817
11.37%
8.15%
Hero MotoCorp
4,596
4,174
27,265
-9.19%
2.60%
Greaves Electric Mobility
2,640
2,606
22,244
-1.34%
2.12%
Bgauss Auto
N/A
1,237
13,026
N/A
1.24%
Bounce Electric
791
1,205
4,099
52.50%
0.39%
Revolt Intellicorp
677
624
5,544
-7.74%
0.53%
Wardwizard Innovations
667
587
7,601
-11.56%
0.72%
1] OLA Electric
Ola Electric managed to retain its top spot in August, but its sales took a notable dip in September 2024. The company sold 23,965 units in September, down from 26,928 in August, resulting in a month-on-month decline of -22.82%. This slump also caused its market share to drop significantly to 29.97%, compared to 39% in July. To tackle service-related challenges, Ola has initiated a Network Partner programme to enhance customer outreach.
According to CEO Bhavish Aggarwal, 625 partners are already on board, with plans to increase this to 1,000 by the festive season and 10,000 by the end of 2025.
Despite the ongoing decline in sales, Ola remains ahead of its competitors, but the substantial drop in market share highlights the need for improvement. It will be interesting to see if the upcoming festive season sparks renewed demand for Ola Electric.
2] Bajaj Auto
The post Electric 2-Wheeler Sales Data- September 2024 | Top 10 EV Companies appeared first on E Vehicle Info.
