Auto Sales December 2024: Bajaj Chetak Overtakes TVS iQube And Ola S1

Bajaj Auto has finally achieved the inevitable and ended 2024 on a high note by selling the most electric scooters in a single month in December. The Chakan-based manufacturer toppled close rivals – TVS and Ola Electric – to take the top position by retailing 18,276 Chetaks which translates into a market share of 25 per cent. It is followed by TVS Motor Company which sold 17,212 electric scooters which translates to 23 per cent of the EV market pie. And in third position is Ola Electric wherein the Bengaluru-based manufacturer managed to retail just 13,769 units, i.e. just 19 per cent of the market share. The above sales performance will bring cheer to legacy manufacturers Bajaj and TVS, but for Ola, it should ring alarm bells. Ola has dominated the Indian EV space for a few years and at the start of the year had over 50 per cent market share. However, riding complaints, quality issues and the negative press it received in the second half of the year has affected sales, despite shelling out huge discounts on its S1 scooters. 

Having said that, Ola Electric sold the most electric scooters throughout 2024 wherein the marque sold 4,07,547 units. The maker of S1 Pro electric scooters is followed by TVS Motor Company, which sold 2,20,472 iQubes last year. And in third position is Bajaj Auto, which managed to retail just 1,93,439 Chetak scooters last year. 

However, Bajaj’s position in the EV race is expected to improve further in 2025. After all, throughout December 2024, Bajaj led the EV race every consecutive week. While TVS did manage to catch up to Bajaj Auto, it still fell short of Bajaj Auto by just 1,238 units. Ola Electric, on the other hand, is far away from these two legacy manufacturers by 4,336 units. 

Bajaj Auto ending 2024 on such a high note should not come as a surprise, for throughout 2024, legacy manufacturers have been gradually catching up with young players like Ola Electric and Ather. And December 2024’s EV sales number couldn’t be more fitting. Going forward, Bajaj will be banking on the new Chetak 35 Series to improve its sales further, whereas TVS is working hard on expanding its dealership footprint for the iQube range across our country. It will be interesting to see whether or not Ola Electric manages to regain its market share as sales have been falling but it has plans to introduce electric motorcycles in 2025.