Ola Electric's April sales dip, rivals expand market share

Sales decline 40% in April as registration issues persist; TVS overtakes Ola in market share

- Manas Pimpalkhare & Ayaan Kartik

In a continuing slide in fortunes, electric two-wheeler (e-2W) market leader Ola Electric Mobility Ltd recorded its second-lowest monthly sales last month since listing on the public markets in August 2024. The company was able to deliver 19,709 vehicles in the month, according to data from the government's Vahan portal. That's a hefty fall from the 34,160 units it sold last April.

What is not clear is how many units were registered in April alone. The company had sold 25,000 vehicles in February but was able to register only 8,500 units due to issues with its registration partners, leaving a backlog of around 16,000 units. Even in March, all the vehicles sold were not registered.

Despite some of this backlog being cleared in April, the company saw more than 40% decline in sales in the month, indicating that the number of vehicles sold and registered only in April would be lower than the 19,709 figure.

"The company shared that it has nearly cleared the February backlog and expects to complete the remaining February-March registrations in April 2025," Ola Electric said in a statement on 1 April.

It is not clear whether the company has cleared the entire backlog.