Electric two-wheeler sales in July 2023: Ola Electric leads the race with a significant lead

Electric two-wheeler sales in July 2023: Ola Electric leads the race with a significant lead

News by Team Drivio | 8 Aug 2023

Ola Electric is going strong banking on its value-for-money proposition, while TVS is catching up gradually with its iQube. 

  • Ola Electric sells 18,333 units, thus maintaining a clear lead over other brands.
  • While TVS secures second position with 9,599 units, Ather Energy took the third position with 6,198 units.
  • Ampere and Okinawa suffer the most due to the recent subsidy cuts.

Despite tumultuous ownership reports arising in the recent past regarding its products, Ola Electric has consistently become the leading brand among electric two-wheeler manufacturers in July 2023. With 18,333 units sold in July 2023, Ola Electric ended up with a clear lead over the second-ranked TVS (9,599 units) and third-ranked the Ather Energy (6,198 units). 

Following are the complete sales figures of the leading electric two-wheeler brands:

BrandJuly 2023June 2023Difference
Ola Electric19,03317,622+4.03%
Ather Energy6,1984,596+34.85%
Bajaj Auto3,9123,002+30.31%
Hero Electric7591,136-33.18%

Considering the bigger picture, a total of 51,299 electric two-wheelers were sold in July 2023, thus scoring an 11.55 per cent growth in comparison to June 2023 sales figures. Ola Electric has maintained a market share of 36 per cent – the highest among electric two-wheeler brands in India. The leading EV maker has Ola S1 Pro and Ola S1 Air in its India portfolio.   

The highest gainers this month were TVS, Ather Energy and Bajaj Auto. While TVS is baking heavily on its sole electric two-wheeler, the TVS iQube, Ather Energy also performed positively on the anticipation built up around the upcoming TVS 450S. Bajaj Auto also gained higher numbers with the expansion of its electric brand ‘Bajaj Chetak’ in more cities across India. 

Meanwhile, the subsidy cuts introduced by Central Government in June 2023 saw Okinawa, Ampere and Hero Electric suffer the most brunt in sales. Once high-selling brands, these three brands reported edgrowths in July 2023.