In June, 105,283 electric two-wheelers were registered in the market. This was a great month for E2W sales, with overall sales improving by 31.43%, driven by strong performances by every brand, barring Ola Electric.
At the top of the chart, TVS sales jumped 80% year on year to 25,274 units. The brand has a 24% market share.
Following TVS closely is Bajaj Auto, which had sales of 23,004 units, a 154% bump year on year. Bajaj has a 21.85% share of the market.
Ola Electric stayed third with sales of 20,189 units, a 45% drop year-on-year. The brand has a 19.2% market share.
Ather Energy saw a 133% jump in sales year-on-year at 14,512 units. Hero Vida, which has been improving its sales significantly over the last few months, had a 148.8% bump in sales at 7,665 units.
In the first six months of the year, the overall market has sold more than 605,000 E2Ws, a 14.42% increase from sales of 528,947 units in the first six months of 2024.
Overall, the top six brands account for more than 89% of the market, with 195 more brands accounting for the remainder.
Penetration breaks out of range
While E2W penetration has stayed in the 5.0% – 6.5% range for many months, it has broken out to the upper side in June, with E2Ws accounting for 7.28% of the overall market.
Ola is Struggling
Amongst the top three brands, Ola Electric is clearly struggling. Its sales are down by 43% in June and 49.6% on a year-to-date basis. This is despite having the biggest range of products in the market and being the only manufacturer in the top six to have a motorcycle in the portfolio. At 4,000 experience centres across the country, Ola is now selling only five scooters per month per centre.
InsightEV – Global Electric Mobility
