Ola Electric vehicle registrations decline by 33 pc in November

New Delhi, Dec 1 (IANS) After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33 per cent in November.

According to Vahan portal data, the number of registrations of Ola Electric vehicles in November fell by 33 per cent on a month-on-month (MoM) basis to 27,746 units. In October last year, this figure was more than 40,000 units.

Due to fewer registrations, the company’s market share dipped to 24 per cent in November, which was 30 per cent in October. However, the company still maintains the first position in the electric two-wheeler market by sales.

Bhavish Aggarwal-led Ola Electric has seen volatility in sales in recent months. The reasons for this were attributed to increasing competition in the market and poor service and product quality.

Along with Ola Electric, registration of electric two-wheelers of TVS Motor declined by 13 per cent on a month-on-month (MoM) basis. A total of 26,036 electric two-wheelers of TVS were registered in November. However, TVS’ market increased to 23 per cent last month, which was 21.5 per cent earlier.

Bajaj Auto’s 24,978 electric two-wheelers were registered in November. The company’s sales declined by 12 per cent on a month-on-month (MoM) basis. The company’s market share in November was 22 per cent. It was 20 per cent in October.

Ather Energy’s EV two-wheeler registrations saw a decline of 24 per cent last month and stood at 12,217 units. At the same time, 16,148 units were registered in October.

Due to a decrease in sales of big players, the total registration of EV two-wheelers in November declined by over 18 per cent on a month-on-month (MoM) basis to 1.14 lakh units. However, registrations surged by 23.5 per cent on a year-on-year (YoY) basis.

–IANS

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