Ola Electric now has 62% market share!
It is no secret that the electric scooter market in India is witnessing massive growth. With the entry of new makers and models, the market is flourishing. In a year-on-year comparison for March, the electric scooter market has grown by a whopping 795%. Total sales of e-scooters in March 2022 stood at 14,523 units compared to 1,622 units in March 2021.
The market leader in the segment is Bengaluru-based Ola Electric. It sold 9,127 units in March 2022, and currently holds a whopping 62.85% market share in the segment. Ola has also recorded a 133.73% growth in month-on-month comparison.
Ather came a distant second with 2,591 units sold. Last year in March, Ather had sold 1,177 units, translating to a 120.14% growth this time. They hold a 17.84% market share. In the month-on-month comparison, Ather grew 26.89% from Feb 2022 figures.
Third on the list is the TVS iQube (Missed our iQube review?), with a 406% growth from the previous year. It sold 1799 units in March 2022, compared to just 355 units in the same month last year. In the month-on-month comparison, iQube lost nearly 19% sales volume as the March figures went below 2,000 units.
Bajaj Chetak came fourth with a sale of 1,006 units. Last year in March, Chetak had sold just 90 units. With the staggering performance this year, the company has registered a growth of 1,017.78%. Meanwhile, in the month-on-month comparison, Chetak recorded de-growth, dropping 9.37% in sales, but the deficit is just 104 units.