Ola Electric Vehicle Registrations Plummet by 33% in November
Click to start listening
New Delhi, Dec 1 (NationPress) After an impressive sales performance in October, attributed to the festive season, Ola Electric vehicle registrations experienced a significant decline of 33% in November.
Data from the Vahan portal indicates that the number of registrations for Ola Electric vehicles dropped by 33% month-on-month (MoM) to 27,746 units. In contrast, the figure exceeded 40,000 units in October.
The decrease in registrations caused the company's market share to decline to 24% in November, down from 30% in October. Nevertheless, the company continues to hold the top position in the electric two-wheeler market in terms of sales.
Led by Bhavish Aggarwal, Ola Electric has experienced fluctuations in sales in recent months, attributed to growing competition and issues with service and product quality.
In addition to Ola Electric, the registration of electric two-wheelers from TVS Motor also saw a 13% drop month-on-month (MoM), with 26,036 electric two-wheelers registered in November. However, TVS' market share increased to 23% last month, compared to 21.5% earlier.
Bajaj Auto registered 24,978 electric two-wheelers in November, reflecting a 12% decline MoM. The company's market share in November was 22%, up from 20% in October.
Ather Energy reported a 24% decrease in EV two-wheeler registrations last month, totaling 12,217 units compared to 16,148 units in October.
The overall decline in registrations among major players led to a total drop of over 18% MoM in EV two-wheeler registrations, amounting to 1.14 lakh units in November. On a year-on-year (YoY) basis, however, registrations increased by 23.5%.
