Ola Electric Tops EV Sales For Second Time In A Row: What Could Be The Driving Factor?

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Ola Electric Tops EV Sales For Second Time In A Row In October

Ola had an electric festive season in terms of sales. The Indian EV scooter manufacturer sold about 15,000 units of its Ola S1 series of scooters in October 2022 according to the Vahan portal. Ola Electric says that it has dispatched over 20,000 units. Suffice to say, Ola Electric has come back from the dead as it posted very sales of 3,421 units in August 2022.

 

Ola Electric also topped the charts in September 2022 with sales of 9,634 units marginally beating Okinawa, another Indian-bred EV manufacturer. Ola Electric not only managed to hold the top position for the second time in a row but also increased the number of dispatches.

What Are The Driving Factors Behind The Surge In Sales?

Not just Ola Electric, the EV two-wheeler market as a whole witnessed its highest-ever sales in October. According to the Vahan portal, the total EV two-wheeler sales stood at 75,294 units, up from 52,975 units in September 2022.

According to Ola Electric, the company gained more than 60 percent growth sequentially. It added that during the festive season, the company managed a 4x increase in sales during Navratri, and a 10x increase on Vijayadashami.

The rise in sales of Ola scooters could also be attributed to the fact that the brand offered cash discounts and EMI schemes on its Ola S1 Pro scooters during the Navratri and Diwali festivals. It also introduced an entry-level Ola S1 Air electric scooter last month, which may have added a few numbers to the tally.

 

What About Its Competitors? Were They Far-Off From Ola's Sales Numbers?

Okinawa held the second position for the second time in a row with a total sales of 11,754 units. Ampere toppled Hero Electric from the podium securing third place with 8,812 units. Hero Electric managed to sell 8,348 units. The top five were completed by Ather Energy, which sold 6,976 units during October.

Established two-wheeler manufacturers of India, TVS Motors and Bajaj Auto, reeled behind the newcomers as they sold 5,205 units and 3,265 units respectively. The low scores of the legacy players could be due to the lack of a multi-product portfolio.

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