Auto Sales September 2024: Bajaj Edges Past TVS In EV Race

Electric two-wheeler sales in India saw a significant shift in September 2024, with Bajaj Auto claiming the second position in retail sales. The company's Chetak electric scooter has captured 21.4% of the market share, positioning itself closer to market leader Ola Electric's 27.6%.

According to recent data from the Vahan portal covering September 1-29, the sales landscape has undergone notable changes. While Ola Electric maintained its lead with 22,821 units sold, Bajaj Auto secured second place by selling 17,507 units, surpassing TVS Motor Company which moved to third position with 16,351 units. This marks a historic moment for Bajaj Auto, as it outperformed TVS in monthly sales for the first time in the electric segment.

Credit where it’s due, 2024 was quite a busy year for Bajaj. Alongside launching the Pulsar NS400Z and the Freedom 125, Bajaj simultaneously kept its EV division going with equal importance. After kickstarting the year by launching the 2024 Bajaj Chetak, that saw it gain a new 5-inch TFT instrument cluster, a big and powerful electric motor, and several new features – in just a span of merely three months, the Chetak range also expanded to accommodate three new affordable variants with the nomenclature 2901, 3201, and the latest 3202 – all three priced around the ₹1 lakh mark. 

Furthermore, the company also expanded its sales network by offering the Chetak scooter through its existing motorcycle dealerships, moving beyond exclusive showrooms and KTM outlets. This broader approach has significantly enhanced the brand's market reach.

Market dynamics have shifted considerably over the past year. Ola Electric, which dominated nearly half the market in September 2023, has experienced a substantial decline. The company's market share dropped from 47% to approximately 27.6%, with year-over-year sales decreasing by almost one-third. Their September performance also showed a decline from August 2024's figure of over 27,000 units.