[ferrarirules]

MOM Change in Sales

YoY Change in Sales



Sales trend - Legacy vs New player in E2W market



Data Source - Vahan Dashboard

Observations:

1. Overall sales were up 70% - MoM and down 7% YoY. All of this is attributed to Ather and OLA losing sales.
2. OLA sales have recovered post February but there are too many controversies and legal issues surrounding the brand. Ather has restricted themselves to the mass premium market and they have lost the first mover advantage.
3. Bajaj continues to be the leader of E2W market and by some margin. The three legacy players have reversed the sales numbers in last 1 years. In Mar-24, "New" players sold 74k and "Legacy" players sold 49k E2Ws. In Mar-25, "New" players sold 45k and "Legacy" players sold 73k E2Ws.
4. Greaves is gaining traction post the sales start of their LFP based E2W.
5. Post the sales start of Vida v2, Hero is back to the numbers they were doing 3 month before.
6. Honda Scooters remain in the "others" category. They sold 187 E2W in the first month of launch.

[yedukrishnan199]

Bajaj seems to be doing very well with their new Chetak Lineup, and with TVS continuing the momentum with the iQube, the legacy players are doing great. Even Hero, with its Vida has had a great March. Ather's sales mostly come from the family-focused Rizta, while OLA is having a very hard time. Let's see how the sales, prices, etc, remain in April as the PM-edrive subsidies have reduced to just Rs 5000 now.

In all probability, the manufacturers will likely absorb the price hike and sell their products at existing prices. Considering input costs of batteries have fallen sharply, that seems the way the market is going. With more legacy players coming into the market, like Honda and Suzuki, lets see how the current players fare in 2025-26.

[Sentau]

Originally Posted by ferrarirules

1. OLA sales have recovered post February but there are too many controversies and legal issues surrounding the brand. Ather has restricted themselves to the mass premium market and they have lost the first mover advantage

So OLA claimed that their February Vahan numbers did not match first party published sales numbers because of registration issues. They said that these sales will be reflected in the Vahan database for March. Taking that into consideration, they seem to have actually sold far fewer units in March (around half of what is shown here. Calculated by looking at the discrepancy between OLAs numbers and Vahan numbers for February and subtracting that from March's Vahan numbers) than what is shown in Vahan so I don't think we can claim that sales have recovered just yet.

[srh]

I think Ola has logistical challenges across their supply chain. The switchover from Gen 2 to Gen 3 seems to have caused at least 3-4 weeks of delay. The issues around registration related to Rosmerta also don't seem to have been resolved. And I suspect that issues will persist as they try to manufacture and start deliveries of the motorcycles.

[jaganm]

I think Ola is in trouble. My gen 2 has been inoperable for the last 20 days. Initially it would not turn on and they kept delaying service and closing tickets and now they say that as battery is 0%, they will charge for towing. So, they may be facing severe cash and resource crunch.

[Flyingdutchman]

No suprise that Ather's Rizta is a hit. IMHO, The biggest USP of this bike is that it mimics the styling and dimensions of an established ICE scooter. It has its funky bits but it doesn't miss out on important design quotient. Seats are widest in the class, even more spacious than ICE scooter. Power delivery is smooth and has enough oomph to be a fun scooter unlike the Chetak. Range is also sufficient. Build quality is nice. Price is reasonable too.

Current styling of EVs are very funky looking, tall, unaccommodating for families. OLA, although has good enough space but just doesn't convince to carry elderly pillion. Ever since I have ridden Rizta, I am contemplating to replace my Chetak with it.