Ola Electric, the leader in the Electric vehicle business, is slowly losing its charm. Why, do I make this bold statement? Well, it is not just a statement because Ola Electric’s sales figures have gone into a big dip. Recent sales data reveal a worrying trend for the company with some months showing significant dips. I think this has to do with the EV sector becoming increasingly competitive, therefore maintaining leadership requires consistent growth and strategic planning the only areas where Ola Electric seems to be facing challenges. This shows that popularity too has a vanishing time.
Now, let’s take you to the monthly sales figure of Ola Electric.
Breaking Down the Monthly Sales Data of Ola Electric
The sales numbers for Ola Electric over the past 12 months will give us a deep insight into the highs and lows. Despite a few strong sales figures monthly, the overall trend indicates fluctuations that have allowed competitors to come up and fill the market demand. Here’s a month-wise breakdown of Ola’s EV sales:
| Month | Sales figure |
| January | 32,424 |
| February | 34,061 |
| March | 53,640 |
| April | 34,162 |
| May | 37,378 |
| June | 36,858 |
| July | 41,799 |
| August | 27,620 |
| September | 24,745 |
| October | 41,793 |
| November | 29,222 |
| December | 5,922 (Till 14th Dec) |
Bajaj and TVS topping the sales list
Ola’s glorious sales figures were defeated by Bajaj and TVS with Bajaj selling the most number of electric scooters this month closing a figure of 10,781 scooters. The next in line is TVS with sales figures of 7,212.
Bajaj Electric sales figure for FY 24
| Month | Sales figure |
| January | 12,470 |
| February | 13,444 |
| March | 21,444 |
| April | 8,840 |
| May | 11,608 |
| June | 11,596 |
| July | 21,457 |
| August | 20,480 |
| September | 24,212 |
| October | 34,711 |
| November | 32,407 |
| December | 10,781 (Till 14th Dec) |
TVS sales figure for FY 24
| Month | Sales figure |
| January | 15,384 |
| February | 14,641 |
| March | 26,660 |
| April | 7,798 |
| May | 11,884 |
| June | 14,050 |
| July | 19,695 |
| August | 17,735 |
| September | 18,307 |
| October | 30,207 |
| November | 27,191 |
| December | 7,212 (Till 14th Dec) |
December 2024 Sales Comparison: Ola Electric vs Bajaj vs TVS
December 2024 saw a significant decline in sales to 5,922 units, down by 79.7% compared to November 2024 sales of 29,222 units. The December numbers are worrying for Ola, the year started the year with impressive sales figures, hiking to 53,640 units in March. However, the numbers began to dip during the middle of the year maybe the company got carried away with the market listing. Surprisingly, the company failed to hold a strong fort with sales falling to 24,745 units in September. The most shocking sales results came out in December, with just 5,992 units sold.
| December Sales Till 14th Dec | November Sales | Month-on-Month (MoM) | |
|---|---|---|---|
| Bajaj | 10,781 | 32,407 | -21,626 (-66.7%) |
| TVS | 7,212 | 27,191 | -19,979 (-73.5%) |
| Ola Electric | 5,922 | 29,222 | -23,300 (-79.7%) |
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I am sure the company must have experienced severe insecurity upon seeing this worrying trend. I think we cannot pin the dip on only one figure rather it can be attributed to market saturation and seasonal trends, and it also reflects internal challenges within the company.
There are some Issues such as supply chain disruptions, rising competition, and customer concerns over service and product quality may have contributed to the decline.
Ola Electric Faces Strong Competition: Bajaj and TVS Surge Ahead
As Ola’s numbers flattened, competitors such as Bajaj Chetak and TVS Motors have gained popularity. These companies have built a strong repo on building reliable networks, introducing innovative and cool products, and providing quick after-sales service—areas where Ola has faced a lot of criticism in the past. As new and new players join the market and established players strengthen their presence, Ola is under pressure to regain its competitive edge and I think they should act fast, or else the competitors will soon close the gap.
What This Means for Ola
Ola Electric should act soon or else the market will act fast. We all remember how Jio acted and rang a red bell on the big telecom operators.
I might sound a bit pessimistic here but trust me a company is nothing without its sales figures that too in such a competitive market. This is a wake-up call for Ola Electric.
I think the company needs to work on the root causes of its inconsistent performance, Like service centers, reliability of scooters. Investments in improving production efficiency, customer satisfaction, and product innovation will be critical to emerge again. You need to cater to the existing customers before closing the new customers.
Writer’s viewpoint
The EV market in India is still budding, with immense growth potential. Ola Electric is the most distinguished brand given its long existence in the market. The company has the advantage of being a recognizable brand. They shouldn’t have any problem in bouncing back. The coming months will be crucial as the company attempts to reverse its declining trend and rebuild trust among customers.
Ola’s journey in 2024 will likely be a defining chapter in its story. Will the company bounce back, or will it cede the spotlight to rising stars in the EV industry? Only time will tell. Until then, see you next time.
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