EV Mechanica

Subscribe to EV Mechanica's Current Newsletter & never miss an update!

    Close Menu
      Facebook X (Twitter) Instagram
      EVMechanicaEVMechanica
      EVMechanicaEVMechanica
      • Home
      • News
        • E-Mobility
        • EV Battery
      • Charging Stations
      • Policy
      • Research
      • Interview
      • Jobs
      • Events
      • E-Mag
      • Subscription
      Facebook YouTube LinkedIn WhatsApp
      EVMechanicaEVMechanica
      Home » Ola Claims 50% Market Share Despite April Dip in India’s EV Sales

      Ola Claims 50% Market Share Despite April Dip in India’s EV Sales

      Garima SharmaBy Garima SharmaMay 2, 2024Updated:May 2, 2024 E-Mobility 2 Mins Read
      Ola Claims 50% Market Share Despite April Dip in India's EV Sales
      Share
      Facebook Twitter LinkedIn WhatsApp

      Ola Electric saw its market share increase to more than 50% in April, selling 33,934 electric two-wheelers, despite a larger 52 per cent decline in overall EV two-wheeler sales to 64,013 units from the previous month.

      Industry sources told Moneycontrol that April is a historically sluggish sales month and that the post-holiday demand dropdown as the key cause of the total sales fall. 64,855 electric vehicle two-wheeler sales were recorded in April 2023.

      “The EV two-wheeler sales are flat at 1 per cent year-on-year (YoY). This is because April is usually a slow month for sales. Last month was the end of financial year and many OEMs were offering huge discounts, which would have led to a boost in sales,” said an industry source.

      In March, electric two-wheeler sales in India reached a record 136,000 units, a 50% rise over the same month last year. Thanks to year-end reductions, sales reached 942,088 units in the 12 months that concluded on March 31. This represents an increase of around 30% over the prior year. To be clear, Vahan doesn’t keep track of bookings—only the overall amount of transactions that are recorded. It also does not include statistics for Lakshadweep, Madhya Pradesh, and Telangana, nor does it account for low-speed E2W sales.

      The Ministry of Heavy Industries (MHI) has been blocking subsidies since last year, which is another reason given by industry analysts for the decreased sales.

      “Stagnation in the growth of electric two-wheelers can be attributed to both the significant reduction in subsidies and the challenges faced by several OEMs. The decrease in subsidies has led to higher prices for electric vehicles, except for those like Ola, which have heavily discounted their products,” said Sohinder Gill, director general of the Society of Manufacturers of Electric Vehicles (SMEV).

      e-mobility Ministry of Heavy Industries news Ola SMEV
      Share. Facebook Twitter LinkedIn WhatsApp
      Garima Sharma

      More article from Garima Sharma

      Keep Reading

      Bihar Set to Deploy 150 Electric Buses August

      Tesla Unveils Oasis Supercharger with Solar, Off-Grid Batteries

      Heybike Galaxy series debuts with sleek, powerful e-bikes

      Leave A Reply Cancel Reply

      16 − fifteen =

      E-MOBILITY

      Bihar Set to Deploy 150 Electric Buses August

      July 4, 2025

      Heybike Galaxy series debuts with sleek, powerful e-bikes

      July 4, 2025

      Mahindra launches XEV 9e Pack Two in India

      July 4, 2025

      Matter aims to sell 10,000 electric motorcycles in 2025

      July 4, 2025

      Articles

      Delhi’s Fuel Ban Flip-Flop: A Policy Failure in Motion

      Introduction: A Capital Confusion Delhi government took a U-turn on its decision to implement the…

      India’s Largest Electric Bus Procurement Signals a Green Public Transit Revolution

      The Government of India has introduced the largest electric mobility project to date the procurement…

      Delhi’s Vehicle Age Ban: A Harsh Road to Clean Air or Policy Misfire?

      The government took fairly bold action to address Delhi’s chronic air pollution crisis by implementing…

      © 2025 EVMechanica.com.
      • Home
      • About Us
      • Contact Us
      • Subscription

      Type above and press Enter to search. Press Esc to cancel.