OLA tops the sales of electric vehicles

   Mar 10,2023

Three manufacturers - TVS Motor Co, market leader Ola Electric and Ather Energy – achieved new vehicle retails in excess of five figures in the month of February 2023. Let's take a deeper look at the performance of electric two-wheeler market in terms of sales in the previous month.


Ola Electric has sold 17,667 units

Ola Electric recorded has second-best monthly sales with 17,667 units and 18,282 units in January. With 27% share, Ola tops the rankings in February. With a total of 1,29,866 units sold in the first 11 months of FY2023 and a significant lead over competing Manufacturers, the company is poised to be the market leader this fiscal year.


TVS: 12,573 units

TVS Motor Co holds on to the number 2 spot for the second consecutive month in a row and holds a 19% market share. The company's market performance has continually risen month after month, and February's 12,573 units, according to VAHAN, are its most significant monthly sales ever, surpassing the 10,423 units sold in January. TVS claimed 15,522 units sold in February; it may be because the VAHAN portal does not include data for a few states.


10,013 Ather Energy units

Ather Energy is in third place with 10,013 units sold in February 2023. Ather, like TVS, has claimed increased sales of 12,147 units this month. The Bengaluru-based startup marginally outperformed its previous month's performance of 9,139 units. The 11-month sales were 63,963 units.


5,861 Hero Electric units

Our previous market leader, Hero Electric, sold in February. The manufacturer’s January target has reduced to 6,393 units. So far, Hero has sold 80,954 units. The company's monthly sales have dropped as a result of the revocation of its FAME-II subsidy.
Last month, the total number of electric two-wheelers sold was nearly double the quantity sold in February 2022.

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