Once the de facto electric scooter manufacturer in India, Ola Electric has had a colossal downfall with volume and market share declines beyond company’s expectations. 74.5% decline in volumes YoY and 64.5% MoM, to be precise, from 33,906 units registered in February 2024 to 8,647 units registered in February 2025.
Ola Electric Feb 2025 Sales
The negative rep around Ola Electric is increasing and the company is now under the limelight for a colossal YoY sales decline and cutting down around a quarter of its workforce across multiple departments. Ola Electric is also under the scrutiny of IFCI for not meeting set milestones under the PLI ACC scheme.
The aforementioned issues surrounding Ola Electric are additions to the already existing ones revolving around drop in sales and market shares, plummeting share prices after its grand debut in August 2024, social media backlash for lack of quality in products and service, misleading advertisements, around 80,000 complaints in a month and many more.
One look at the sales charts, we can see that Ola has lost considerable market share to major rivals like Bajaj Chetak, TVS iQube, Ather Energy and Hero MotoCorp’s Vida. As per the VAHAN portal, Ola registered a total sales of just 8,647 units in February 2025. In contrast, Ola registered 33,906 units in February 2024, which resulted in a 74.5% YoY decline.
At the same time, TVS registered 28.7% YoY growth with 18,748 units, Bajaj Chetak registered a staggering 81.8% YoY growth with 21,335 units, Ather registered 30.3% YoY growth with 11,789 units, Hero Vida registered 52.5% YoY growth with 2,607 units and other brands combined, registered 12.2% YoY growth with 12,802 units.
While mentioning sales, we are using the term ‘registered’ and not ‘sold’. That’s because Ola Electric quotes this colossal drop in sales to negotiations and optimisations of registration process, thus impacting the actual sales data for the month of February 2025 on VAHAN portal. As per Ola Electric, actual units sold may be more than 8,647 units in February 2025.
1,200 Ola workforce laid-off
When Ola Electric filed for IPO launch in March 2024, the company disclosed that it had a workforce of 4,011 individuals. Majority of these workers were employed in manufacturing, supply chain management, sales and service fulfillment. In November 2024, Ola Electric let go of up to 10% of its workforce at around 400 employees.
In March 2025, the situation for Ola worsened with crushing financial losses. In a grand plan of restructuring, Ola Electric is laying off around 1,200 employees, which is more than a quarter of its total workforce. These include both permanent staff and contract basis workers and the company aims to curb costs and increase profitability.
Apart from workforce, Bhavish Aggarwal led Ola Electric has witnessed multiple senior-level departures as well. Primary of them include Chief Technology Officer Suvonil Chatterjee and Chief Marketing Officer Anshul Khandelwal. With a new multi-pronged approach, Ola Electric is poised to turn the tides around in its favour.
Source – Economic Times
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