Ola Electric defends February sales data, says orders based on paid, confirmed orders

The clarification comes amid reports, first published by Business Standard and other outlets on March 20, suggesting that Ola’s February sales included models that had not yet been rolled out.

Ola Electric Ltd defended its February sales figures, stating the numbers represent paid, confirmed customer orders and not preliminary bookings, as suggested by some media reports.

“Nearly 90 percent of these orders were paid in full at the time of placement. This includes customer orders for our new products, Gen 3 and Roadster X, which have been available for full purchase (not just pre-booking) during February,” Ola said in a statement to stock exchanges on March 8.

The company attributed the discrepancies between its order data and VAHAN portal figures to disruption due to the transition of the registration process in-house as part of an efficiency initiative.

“These are not token bookings,” the company said. “Vehicle deliveries are sequenced to follow confirmed orders with full payment—a standard and universally accepted industry practice. Any attempt to conflate bookings with full-payment orders or to suggest that deliveries must precede or immediately follow orders misrepresents how the automotive industry functions.”

Ola added that it recognizes revenue only upon completion of the registration and delivery of vehicles.

The company also defended its direct-to-consumer model, which it said has “upended traditional automotive sales practices”.

The clarification comes amid reports, first published by Business Standard and others on March 20, alleging that Ola’s February sales included models that had not yet been rolled out. The reports also noted inquiries from the Ministry of Heavy Industries and the Ministry of Road Transport and Highways regarding discrepancies between Ola’s reported sales and registrations on the VAHAN portal.