Bajaj Auto & TVS has surpassed Ola Electric in December 2024 sales figures
2024 has been the most important year in India for the Indian two-wheeler industry, accounting for incredible growth in the market. In 2024, India saw a major increase in sales shift with India’s major auto manufacturers such as TVS and Bajaj Auto outsold their electric scooters to Ola Electric which dominated India’s market with over 4 lakh units sold and had over 50% market share. Let’s take a look at the reason behind Bajaj Auto and TVS’ rise in sales.
Highlights
- Bajaj Auto has sold over 9,513 units and has a market share of 27%.
- TVS sold over 7,567 units with a market share of 22%.
- Ola Electric has a market share that stood at 18% with 6,387 units sold.
Sales Outlook
As for 14 December 2024, Bajaj Auto has sold over 9,513 units and has a market share of 27%, TVS sold over 7,567 units with a market share of 22%, and Ola Electric saw a reduction in market share that stood at 18% with 6,387 units sold.
India’s largest E2W auto giant, Ola Electric saw a decline in market share which is now at 24%, which stood at around 50% in India. The reason was due to rising customer complaints, service-related issues, and product quality. Due to this, several legacy automakers gained their percentage in the market to boost their performance.
Bajaj Auto’s Rise
India’s leading two-wheeler automaker Bajaj Auto recently launched its new Chetak lineup that has dominated the market. With its stunning build quality, smooth drive and better brand value, Bajaj’s new Chetak offers better reliability and had better consumer feedback. The automaker plans to introduce more offering via its electric three-wheeler brand by Q1 FY26. The automaker aims to achieve 5 lakh sales by FY26 with 40,000 e-scooter/ month by the end of FY25.
Bajaj Auto is launching its brand-new Chetak 35 electric scooter on December 20, 2024, offering several upgrades to its performance and features. More details include new technological upgrades, better battery efficiency, improved range, and more.
The new Chetak will offer a range of around 150 Km (IDC Range) and will be the most affordable e-scooter in the market for its upgrades. Bajaj Auto has launched its new Chetak starting at Rs. 96,000 for the entry-level variant, while the top spec model at Rs 1.20 lakh (all price ex-showroom).
TVS Motors’ Growth
India’s leading automaker TVS Motors has also showed consistent performance, boosting its grip in the market. Company’s iQube electric scooter is also climbing ladders and gained a massive boost in sales making it a reliable choice among electric two-wheeler buyers. The brand is focused on boosting more technology, and performance and will offer a wide range of scooters for every type of buyers.
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