Growth journey and market share

Ola Electric soon became a top player in India’s electric two-wheeler segment. More than 1 lakh units were sold in 2022. This number was more than the combined sales ather energy And TVS Motor Company That time.

However, 2024 turned out to be its strongest year yet. Ola sold more than 4 lakh units in a year. It also achieved record monthly sales of over 53,000 units. This performance helped the entire EV market surpass 1 million annual sales.

Meanwhile, rivals also increased during this period. Bajaj Auto And Ather improved its sales numbers. TVS has also crossed 2 lakh annual sales, showing strong competition in this segment.

The recent recession has raised concerns for the brand

Nevertheless, there was a sharp decline in Ola’s growth in 2025. In the same year the company purchased about 1.99 lakh units. This was a huge decline compared to 2024 sales. New competition and product developments occurred which affected its performance. This was the time when Ola entered the electric motorcycle industry.

Due to this Ola lost its lead in the market. TVS Motor led strong and sustained growth. Ola’s market share also declined drastically. Apart from this, recession is also present in 2026. Between January and March 23, Ola sold a little more than 16,000 units. This is a huge decrease compared to last year.

Ola currently ranks second in monthly sales behind TVS, Bajaj Auto, Ather Energy and Hero MotoCorp. Now its market share is less than 5%. But Ola remains at the forefront in terms of total sales. In cumulative numbers it is still above TVS and Bajaj. Maybe some new policies and better products can bring Ola back to its place.

Before you go, don’t forget to check Two-wheeler sales in India in February 2026.