Ola Electric Scotter Market Share Vs Bajaj, TVS

Ola Electric Cy24 Sales VS TVS IQUBE & Bajaj ChetakOla Electric Cy24 Sales VS TVS IQUBE & Bajaj ChetakOla Electric Cy24 Sales VS TVS IQUBE & Bajaj Chetak
Ola Electric Cy24 Sales VS TVS IQUBE & Bajaj Chetak

Once the dominant power is in the Indian electric motorcycle sector, Ola Electric lost its share in the large market for competing brands such as Bajaj Chetak and TVS Motor. It seems that the Bangalio -based electricity provider has been very close to the sun, as huge and dominant sales have decreased dramatically.

While OLA is still the best -selling manufacturer 2W, it is no longer the dominant power. Competitors such as Bajaj and TVs have come a long way and are preparing to overcome Ola’s characters and take over now. Their share price also reached its lowest level at 64.6 rupees on January 28, which comes after the company launched 4000 financial stores across India. In this post, we will analyze the performance performance of OLA via CY24 and see the amount of fall in which it was compared to Bajaj and TVS.

Ola Electric Cy24 Sales VS TVS IQUBE & Bajaj ChetakOla Electric Cy24 Sales VS TVS IQUBE & Bajaj ChetakOla Electric Cy24 Sales VS TVS IQUBE & Bajaj Chetak
Ola Electric Cy24 Sales VS TVS IQUBE & Bajaj Chetak

Ola Electric Cy24 sales

If we take CY24 (January 2024 to December 2024), we can see how OLA lost the market share with time. OLA began starting Cy24 with a 58.33 % stake (within this trio) in the second quarter of 2024, which was more than three times in Gaj and TVs by 19.36 % and 22.31 %, respectively. By the end of CY2024, this number was reduced to 35.74 %, while Bajaj was 32.74 % and TVS by 31.52 %. In the first quarter of 2024, Ola sold 1.19,418 units and made up 58.33 % of sales within this trio. Meanwhile, Bajaj managed 39,628 units and TVs that managed to sell 45,680 units. In Q2 2024, OLA sold 1.07,641 units, lost 11.777 QOQ units and the percentage decreased to 54.46 %. In Q2 2024, we can see that Bajaj and TVs showed the growth of QOQ and increased the percentage of the percentage between this trio.

This trio of a total of 4.02,374 units managed in H1 2024. Breaking the numbers, was 2,27,059 units of OLA, 80.482 from the Bajaj and 94,833 TVs. In the third quarter of 2024, Ola sales were reduced to 93,820 units, lost 13,821 QOQ units and represented 39.42 % of sales within this trio, decreasing from 54.46 %.

Ola Electric has constantly lost its share in the market to Bajaj and TVs in 2024Ola Electric has constantly lost its share in the market to Bajaj and TVs in 2024Ola Electric has constantly lost its share in the market to Bajaj and TVs in 2024
Ola Electric has constantly lost its share in the market to Bajaj and TVs in 2024

The lowest numbers in December 2024 for Ola

Meanwhile, Bajaj and TVS showed great growth as it sold 70.387 and 73774 units respectively. Bajaj 29.533 QOQ growth units recorded, while it was 24.621 for TVs. The percentage of Bajaj Celsius grew from 20.67 % to 29.58 %, while TVS grew from 24.87 % to 31 % QOQ.

The results became more interesting in the Q4 2024, where Ola recorded its CY24 sales in December 2024 in only 13.771 units. Ola sales got a decrease from 93,820 units in Q3 2024 to 84.626 units in Q4 2024, and lost 9,194 units in QOQ size. Meanwhile, Bajaj and TVS 77.524 and 74.635 units, respectively, sold for positive QOQ.

In H2 2024, Olajaj and TVs managed to sell 4.74,766 electric bicycles, up from 4.02,374 units in H1 2024. However, the heavy impression is raised by Bajaj and TVS, while OLA may have and have had sales. Huge sales. By cutting the numbers, OLA sold 1,78,446 units, Bajaj 1.47,911 units and 1.48.409 units by TVs in H2 2024.

The numbers still put OLA in the first place with an average of 33.792 monthly units in Cy24, while it was 19.033 for Bajaj and 20,270 TVs. However, this may change in the Cy25, with a potential to take off the Bajaj and TVs in sales, leaving Ola Bewind, and consult its sales pattern.

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