Homegrown automotive manufacturing company Bajaj Auto has claimed the second position in electric two-wheeler retail sales in September 2024, according to industry sources cited by CNBC-TV18. Bajaj’s Chetak electric scooter now holds a 21.4% market share, edging closer to Ola Electric’s 27.6%.

Retail sales data from the Vahan portal for the period from September 1 to 29, reveals that Ola Electric sold 22,821 units, while Bajaj Auto sold 17,507 units, surpassing TVS Motor Company, which sold 16,351 units. This marks the first time Bajaj has overtaken TVS in monthly sales, solidifying its position as a key player in the electric two-wheeler market.

Ola Electric, once the dominant force in the sector, has seen its market share shrink significantly. In September 2023, the company controlled 47% of the market but has since fallen to just over a quarter in September 2024.

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The company’s year-on-year sales dropped by nearly a third, reflecting growing competition and challenges in customer service. Ola’s September 2024 sales were also lower compared to August 2024, when it sold over 27,000 units.

Bajaj Auto’s rise to the second spot can be attributed to its competitive pricing strategy and revised distribution model. According to the media reports, previously sold through exclusive Chetak showrooms and KTM outlets, Bajaj has now begun retailing its Chetak scooter through its existing motorcycle dealerships.

This broader sales strategy has helped the Pune-based brand increase its reach and boost sales. In contrast, TVS has struggled with the absence of a sub-₹1 lakh model, a gap it is expected to fill with a new product launch during the upcoming festive season. TVS’s market share for September 2024 stands at 19.56%.

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Meanwhile, Ather Energy has emerged as the only non-legacy manufacturer to make significant gains in market share. Ather’s sales increased by 75%, with over 11,000 units sold, giving the company nearly 14% of the market.

Ola Electric has acknowledged the challenges and is actively addressing them with its ‘hyperservice’ campaign. This initiative aims to double its company-owned service outlets to 1,000 by December 2024 and includes a training programme to equip 100,000 third-party mechanics with the skills to service Ola’s vehicles. In addition, the company plans to implement AI-powered proactive maintenance and remote diagnostics starting October 10, 2024.

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