Bajaj Closes Gap on Ola, Overtakes TVS in Electric Scooter Race

1 Oct 2024 , 01:32 PM

According to a report by CNBC-TV18, domestic automaker Bajaj Auto would rank second in electric two-wheeler retail sales in September 2024. Bajaj’s Chetak electric scooter now has a 21.4% market share, approaching Ola Electric’s 27.6%.

Retail sales data from the Vahan portal for the period of September 1 to 29 show that Ola Electric sold 22,821 units, while Bajaj Auto sold 17,507 units, outselling TVS Motor Company, which sold 16,351. This is the first time Bajaj has surpassed TVS in monthly sales, bolstering its position as a prominent player in the electric two-wheeler segment.

Ola Electric, long the dominant power in the business, has seen its market share decline dramatically. In September 2023, the corporation held 47% of the market, but this has since dropped to little over a quarter in September 2024.

Bajaj Auto’s ascension to second place can be ascribed to its competitive pricing strategy and updated distribution model. According to media reports, the Chetak scooter, which was formerly offered exclusively through Chetak showrooms and KTM outlets, is now available through Bajaj’s existing motorcycle dealerships.

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