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The market share of Ola Electric slid to nearly 3.5 per cent with total volumes of under 4,000 units in February 2026
Last month proved particularly challenging for Ola Electric as the company witnessed a steep erosion in its standing within electric two-wheeler market. Its share slid to nearly 3.5 per cent during the month – a notable fall from the double-digit territory it enjoyed a year ago. Total volumes remained under 4,000 units pushing the once-dominant player out of the top-five rankings altogether.
It is worth knowing that Ola Electric was leading the segment only a few months ago. The company recently rolled out “hyper service” initiative to tighten after-sales processes – improving spare parts availability and accelerating technician training. Backlog timelines have reportedly been reduced significantly as part of the corrective initiative.
While Ola grappled with shrinking volumes, legacy manufacturers tightened their grip on the segment. TVS Motor Company and Bajaj Auto together commanded close to 51 per cent of total registrations in February – the first time their combined share crossed the halfway mark. TVS emerged as the market leader for the month courtesy of the iQube and Orbiter range.
Also Read: Bajaj Posts Nearly 4.50 Lakh Unit Sales In Feb 2026 With 27% Surge
It retailed around 31,000 units and secured 28.3 percent share. Bajaj Auto followed with domestic sales of more than 25,000 units – holding about 22.7 per cent of the market. The Chakan-based manufacturer has also moved past earlier supply bottlenecks tied to rare earth materials and is now looking to expand its Chetak portfolio further.
Registrations in February crossed 1.1 lakh units though this was about 9 per cent lower than January’s tally of 1.22 lakh units. On a yearly comparison, however, the industry expanded by around 46 per cent versus February 2025. The consistent sales increase shows growing acceptance of electric scooters and motorcycles across multiple market tiers.
Also Read: Jan 2026 Delivers Historic High For India’s PV Segment With 4.49 Lakh Sales
Among other key players, Ather Energy retained its status as the leading electric-first brand with over 20,000 units and around 18.4 per cent share. Hero MotoCorp followed with more than 12,000 units – capturing around 11.2 per cent. The segment is all set to get more competitive in the course of this year and it will be interesting to see how Ola fares.
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