Ola Electric Retains First Rank Despite 26 Percent Decline in Sames, Bajaj Auto, TVS Motor

Ola Electric, one of large electric two-wheeler companies, has been more than 25,000 units in February. This is a decline of about 26 percent in the company’s sales on a year-on-year basis. However, despite this, Ola Electric has retained its first rank in this market.

The company’s market share was around 28 percent in February. Ola Electric has reported that its electric scooters’ S1 range performance is strong. Along with this, he is also getting help from about 4,000 stores sales and service networks. The company spokesman said, “We have retained the speed and leading position of the sales. We are getting strong demand from Tier 3 and 4 cities besides big cities. Our Roadster X Electric Motorcycle has a rapid growth in sales after the delivery of delivery in March.”

Recently, the company had said that its registrations on the Vahan portal may decrease in February. The company had said that it is talking to vehicle registration agencies about its contract. Its purpose is to make the process of registration easier and reduce the cost. However, this will not affect the company’s sales. Ola Electric had stated in a regulatory filing that with Rosmerta and Shimnit to improve the registration process, she is negotiating to change the terms of the agreement. Due to this, the number of registrations in February may be temporarily reduced. However, it will not affect the sale. The company’s electric two-wheelers are sold directly to customers. Because of this, Ola depends on these third-party agencies to complete the process of registration of electric vehicles.

In the third quarter of the current financial year, the company’s EBITDA loss rose to about Rs 460 crore. It was about 301 crore rupees in the same quarter of the last financial year. Recently, Ola Electric entered the segment of electric motorcycle. The company launched Roadster X and Roadster X+. The initial price of this electric motorcycle is Rs 74,999 (ex-showroom). At the end of last year, Ola Electric had increased its sales and service networks about four times.