New Delhi, June 1 Ola Electric saw a 51 per cent (year-on-year) slowdown in electric two-wheeler sales to 18,499 units in May, dropping to the third position behind rivals TVS Motor and Bajaj Auto.
May saw a strong performance in the electric two-wheeler (E2W) segment, with retail sales reaching 100,266 units, according to the government’s Vahan data.
TVS Motor led with selling 24,560 units, registering a 107 per cent year-on-year (YoY) growth and securing 24 per cent market share in May.
Bajaj Auto clocked the sale of 21,770 units, registering a 135 per cent YoY growth and 22 per cent market share at the second position, the Vahan data showed.
Bhavish Aggarwal-led Ola Electric registered an 18 per cent market share last month at the third spot.
Ather Energy, which went public last month, sold 12,840 units and captured 13 per cent share of the market.
Ola Electric's financial performance took a sharp beating in the fourth quarter (Q4) of FY25, as the electric vehicle maker reported a steep drop in revenue and a twofold increase in net losses on a year-on-year (YoY) basis.
The company posted a net loss of Rs 870 crore for the January–March quarter (Q4), up from Rs 416 crore in the same quarter previous fiscal (Q4 FY24), according to its stock exchange filing.
Revenue from operations fell significantly to Rs 611 crore in Q4 FY25, marking a 61.8 per cent decline from Rs 1,598 crore a year ago.
This is one of the company’s worst quarterly revenue performances since it began commercial deliveries of its electric two-wheelers in late 2021. The drop comes amid rising competition in the electric scooter market, regulatory uncertainty around government subsidies, and inventory correction across dealerships.
For the full year FY25, Ola Electric’s revenue also fell to Rs 4,645 crore, down from Rs 5,126 crore in FY24.
Ather Energy also reported a net loss of Rs 234.40 crore in the fourth quarter of the last financial year (FY25), widened by 18.5 per cent from Rs 197.8 crore net loss in Q3 (quarter-on-quarter). Total expenses rose to Rs 922 crore in Q4, 8.7 per cent up on a quarterly basis and 12.6 per cent year-on-year.
The company's revenue from operations went up 29 per cent to Rs 676 crore in Q4, from Rs 523.4 crore in the year-ago period.
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