Electric two-wheeler sales in India recorded the lowest registrations of the year. Ola Electric’s sales recorded the least sales and registrations in February, yet they maintain they are leading the EV market in India. Ola’s rivals, TVS Motors and Bajaj Auto Ltd saw this as an opportunity and occupied the market.
Ola Electric February Sales Report
Ola believes February was a good month for them as they sold 25,000 units. They owned 28% of the EV Market with their sales- a 3% increase compared to their January sales.
Despite Ola’s improvement, Union Road Transport and Highways Ministry’s database, Vahan, indicates a steep decline. The data suggests a 27% fall in the sales of electric two-wheelers in India compared to January 2025. The last time sales were this low was in April 2024, when the units sold were 65,554.
Ola Electric Share Prices
Currently Ola Electric Shares are trading at Rs 56.83. That is nearly 52-week low. The UC limit is ar Rs 68.30 and LC Limit is at Rs 45.53. Current total market capitalization of the company is around Rs 25,066 Crores.
How Others Perform in February?
Bajaj Auto’s sales accounted for 27.8% of the market as they sold a little over 20,000 electric two-wheelers. Their EV version of Chetak was on demand. Another Ola Electric rival, TVS Motor, sold 17,605 electric two-wheelers, occupying 24.5% of the market in February. And Ather owned 15.5% of the EV market after selling 11,130 vehicles.
All the EV companies selling two-wheelers (Ola, Bajaj Auto, TVS Motors, and Ather) experienced significantly lower registrations compared to their January performance. Regardless, analysts are confident that this decline is a short-lived trend.
Preetesh Singh, a CASE and alternate powertrains specialist at Nomura Research Institute, said the drops in registrations cannot be attributed to any particular reason. In addition, he said, “Maybe some pre-booking might have happened before the Budget (announced on February 1). With big incentives for consumers like the tax reliefs and the sentiment being positive for the EV ecosystem, the numbers should rise in the upcoming months,” Based on this analysis, a hike in sales is likely to occur in the future.
