Festive demand revs up Bajaj Auto to top spot in EV two-wheeler sales; Ola slips to fourth

EV two Wheeler

The festive season has powered a sharp surge in electric two-wheeler sales, with Bajaj Auto emerging as the top seller in October, displacing TVS Motor. According to data from the government’s Vahan portal, Bajaj sold 29,597 units, cornering a 21.9 percent market share, while TVS Motor followed closely with 28,008 units and 20.7 percent share.

October also saw overall EV sales crossing the 2 lakh mark. As of October 30 Vahan data, total EV registrations across all vehicle segments stood at around 2.04 lakh units, marking an 11 percent sequential increase after two consecutive months of decline.

Ather Energy registered its best-ever monthly performance, selling 26,713 units and securing a 19.6 percent share, while Ola Electric continued its slide to the fourth spot for the second consecutive month with 15,481 units and an 11.6 percent share.

Industry officials attributed the strong performance to festive-season offers, new product variants, and improved financing options.

Bajaj saw higher traction for its Chetak Urbane and Premium models, which were offered with cashback and low down payment schemes. TVS Motor’s iQube range continued to perform strongly in urban markets, while Ather Energy’s recently launched 450 Apex and grid expansion initiatives helped drive sales.

In comparison, September saw total EV two-wheeler registrations at 96,031 units, with TVS Motor leading the charts at 21,052 units. Bajaj had then sold 17,972 units, and Ather 16,558 units, pushing Ola Electric to fourth place with 12,223 units.

With festive demand tapering off, analysts expect November sales to normalise, though the ongoing price cuts and the entry of new models are likely to sustain momentum in the coming months.

India’s EV two-wheeler market continues to be dominated by these four players, together accounting for more than 70 percent of total sales in October.