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According to VAHAN data, Ola Electric was in fourth place, with 5,753 registered electric scooters as of the evening of June 30. It was overtaken by Okinawa, Ampere and Hero Electric. After two months of poor results, Hero Electric has improved its position.
Bhavish Aggarwal founded Ola Electric, launched electric scooters into the market. The company has seen its registrations drop month after month. It was at the top in April, losing May to Okinawa and now it is number four. The registration numbers for Ola have dropped by 33% in the last few days of June, compared to May’s last day. Ola Electric didn’t respond to my query.
It is shocking to learn that registrations have fallen sharply in May compared to April by 24% (based on VAHAN data for 8 scooter companies), but they are slightly up in June at 32,807 vehicles compared with 32,680 in May. This data does not include TVS and Bajaj Auto sales.
The steady registration volume is due to Hero Electric’s substantial increase in numbers, which more than doubled in May from 2,739 to 6,049, putting it in third place. Due to a shortage of chips, the company’s registrations had fallen sharply. Ampere saw an increase in registrations, from 5,529 in May, to 6,199 in June. This was an increase of 12%, which pushed it into the second slot.
Ather Energy saw an 18% increase in registrations from May to reach 3,651 vehicles. Revolt also saw a significant increase in registrations to 2,332 vehicles. Okinawa remained at the top, but registrations dropped by 24% in June compared to May.
Experts believe that the inflated demand for vehicles has ended. Ola, for instance, has been able to deliver large orders that were pending. The long wait is over. These numbers reflect normal demand.
A vehicle manufacturer said, “It’s common when a new product, and in this case a new product in a new category, comes, there will always be initial huge demand and bookings. Once this is met, the numbers will come to normal levels. It is not a mass scooter and has a stiff price tag of Rs 1 lakh. The test of success will be seen in the next few months on how the numbers hold on and increase.”
Experts agree that the market has been affected by fires and security concerns. The shortage of chips is not going away.