Bajaj Auto leads e2W sales in first week of December, TVS ahead of Ola

The first week of the last month of this year is done and dusted. The electric two-wheeler segment, which accounted for a 60% share of the entire electric vehicle industry’s retails in January-November 2024, has clocked retail sales of 17,978 units in the first week of December as per Vahan data (as of 5pm, December 8). Interestingly, Bajaj Auto, which has sold 4,988 Chetaks, is leading the OEM chart. Will December, when it is counted till the turn of the year into 2025, spring a surprise on the leader board?

Bajaj Auto, which is to take the covers off the next-gen Chetak on December 20, is already in the lead by a fair margin. Other than September 2024, when it sold 19,211 Chetaks to TVS’ 18,243 iQubes, the Pune-based company has through all of CY2024 remained at No. 3 position.

TVS Motor Co, which sold 3,964 iQubes in the first week of this month, is currently at No. 2 position and ahead of Ola Electric (3,351 units). Ather Energy, which has the Rizta, 450S and 450 Apex e-scooters, stands fourth with 2,523 units. The combined sales of these top four OEMs at 14,826 units make up 82% of total e-two-wheeler retails in the first week of December, leaving the remaining 18% of the market to 200 other players.

Greaves Electric Mobility, which is seeing growing traction for its Nexus e-scooter, is ranked fifth with 641 units, followed by Quantum Energy (368 units). Revolt Motors, which sold a record 1,998 electric motorcycles in November, is No. 7 with 300 units. Hero MotoCorp, which launched the new Vida V2 on December 4, has clocked retails of 280 units.

It’s early days yet in the month and the coming three weeks will determine if the industry sees a new leader. Will Ola Electric, which remains the cumulative sales leader by a massive margin, drop a rank or two this month, or see a strong run? Or will the numbers rev up strongly for TVS, the longstanding No. 2 player? Stay tuned as we bring you the latest sales updates from this sub-segment of zero-emission mobility.