With Ola registering strong sales, the ‘OATS for breakfast’ diet doesn’t seem to have turned out a healthy choice after all
Owing to high fuel prices, an increasing number of users are shifting to electric two-wheelers. February sales numbers clearly demonstrate that trend, with combined YoY growth of Ola, iQube, Ather and Chetak rising by 672.65%. As compared to 1,203 units sold in February last year, sales were at 9,295 units in February 2022. MoM growth is also positive at 38.24%, as compared to 6,724 units sold in January 2022.
Electric Scooter Sales Feb 2022 – Ola leads
While Ola Electric had to face multiple issues since it began deliveries last year, things appear to have been streamlined now. The company has reported sales of 3,905 units in February. Percentage share in sales among these four scooters is at 42.01%. MoM growth has improved by an impressive 254.36%, as compared to 1,102 units sold in January 2022.
According to Ola Electric CEO Bhavish Aggarwal, sales in February were actually higher than reported. The company has a fully online model of sales and distribution and there is a significant number of temp registrations. Currently, the Vahan portal is not programmed to count these. Bhavish has also stated that Ola scooter sales will be around 15K in March, making it the top electric two-wheeler manufacturer in the country.
At number two in the list is TVS iQube, which continues to be a consistent performer. Sales were at 2,238 units in February 2022. YoY growth has increased by a whopping 1,002.46%, as compared to 203 units sold in February last year. This is the highest in the group in percentage terms. Share in sales is at 24.08%. MoM growth is up by 46.37%, as compared to 1,529 units sold in January 2022.
Ather, Chetak report negative MoM growth
At number three is Ather with sales of 2,042 units in February 2022. YoY growth is up by 140.24%, as compared to 850 units sold in February last year. Percentage share is 21.97%. MoM growth is down by -27.72%, as compared to 2,825 units sold in January 2022.
Bajaj Chetak has reported sales of 1,110 units in February 2022. YoY growth is 640.00%, as compared to 150 units sold in February last year. Share in sales is at 11.94%. Chetak MoM sales are down by -12.46%, as compared to 1,268 units sold in January 2022.
While there could be multiple factors at play, these numbers do provide some clues as to why Ola and iQube are ahead. One key factor could be the affordable pricing of these two scooters, relative to Ather and Chetak. Ola has the additional advantage of operating a fully online sales and service platform.
As compared to other EV manufacturers that work through dealerships, Ola can deliver its scooters to any part of India. As such, its sales are not dependent on the number of dealerships, which is the case with other OEMs. It remains to be seen if Ola’s new system can sustain itself when its customer base reaches a sizeable level.
Source: Bike - rushlane.com
