Bajaj Chetak Overtakes Ola In Early December Sales

2024 has been a very interesting year for EV sales as there has been a huge shift in the market share of legacy brands such as TVS and Bajaj. Ola Electric ruled the sales charts and had over a 50 per cent market share in the Indian electric two-wheeler space and also had a great debut with its IPO. But ever since things have been difficult for the Indian EV startup as it faced backlash over unsolved service issues and quality problems with its electric scooters.

The above meant other EV brands such as TVS, Bajaj and Ather have been able to improve their sales and eat into the market share of Ola. Such has been the competition that Ola’s market share dropped to just 24 per cent while that of TVS and Bajaj increased to 23 and 22 per cent respectively. As per Vahaan sales, Bajaj has managed to sell 9,513 units, whereas TVS iQube sales stand at 7,567 units and Ola is in third position with 6,387 units until December 14.

Based on the above sales performance, Bajaj Auto has a market share of 27 per cent, followed by TVS with 22 per cent and Ola has fallen behind at just 18 per cent. If the Bajaj Chetak is able to sustain this momentum, it will be the first occasion that it will become the best-selling electric scooter in our country ever since its debut in 2020. The strong sales performance of the Chetak is surprising as Bajaj will be launching the new version of the Chetak on December 20. 

It will be interesting to see whether or not Ola Electric will respond with a festive season or a year-end discount to counter its sales downfall. The other big new addition to the Indian EV space is the introduction of the Honda Activa e: which will go on sale in early 2025. 

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