Ola Electric’s Market Shares Fell Below 20% in December

Ola Electric Loses Market Leadership to Bajaj Auto

Ola Electric’s dominance in the electric two-wheeler market took a hit in December 2024 as its market share fell to 18.78%. This marked a significant drop from its 49% share in June. Bajaj Auto emerged as the new leader, capturing 24.92% of the market with 18,276 units sold, according to Vahan data.

Chennai-based TVS Motor secured the second spot with a 23.48% share, selling 17,212 units. Ola Electric, despite offering steep discounts, managed to sell only 13,769 units in December, reflecting its declining position in the competitive market.

Market Trends Show Declining Demand and Ola’s Challenges

The overall electric two-wheeler market shrank considerably, with sales dropping from 119,654 units in November to 73,316 units in December. Industry experts attribute this decline to fluctuating consumer demand and intensifying competition.

Ola Electric’s struggles were compounded by internal challenges, including high-profile exits and an inability to sustain its earlier momentum. However, the company retained the highest annual market share of 35.5% for the calendar year 2024, reflecting its strong performance earlier in the year. Total electric two-wheeler sales for the year stood at 11.4 lakh units.

OLA Electric Share Performance

As of January 02, 2025, 2:16 PM, the shares of Ola Electric are trading at ₹86.05 per share with a decline of 0.2% from its previous day’s closing price. Over the last month, the stock has seen a decline of 8.41%. The stock has a 52-week high and 52-week low of ₹157.40 per share and ₹66.66 per share respectively. 

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