Ola Tops Electric Two-wheeler Sales In April 2024, TVS Edges Out Bajaj

FADA has released its April 2024 sales data and the electric two-wheeler space witnesses familiar names doing quite well. Here’s how the top five stand.

It is no surprising to see that all of the top five as well as other EV manufacturers have faced a sharp decline in the sales numbers in April 2024. With the FAME-II subsidies making way for EMPS, which offers less benefits to the end buyer, sales of electric two-wheelers were bound to take a hit. 

In fact, the likes of TVS, Ather and Hero MotoCorp’s Vida electric division have suffered the most. All three have clocked in -70% above lesser sales than what they mustered in March 2024. With heavy discounts during the final few weeks of March, the sales had surged. However, we expect the April numbers to be more representative of the EV market going forwards. With the Ather Rizta set to arrive in July, the sporty electric scooter maker will have to wait a while for its growth to pick up.

What is concerning for TVS, though, is that it is likely to lose its second spot to Bajaj with the low-cost, more affordable version of the Chetak that will be launched in the coming few weeks. And considering the gap between the two established manufacturers is not more than 150 units, the new trim might just make that switch in position very possible.

Another brand that has had a really bad month and will need to revise its strategies is Hero. The Vida V1 is an expensive e-scooter and by selling only 947 units in April, Hero will likely be concerned. Opting for the same strategy as Bajaj might help matters for the world’s largest two-wheeler manufacturer.