EV (2W) Sales: Aug'25 Part-3 report

Festive season buying clearly helped boost sales in the final part of Aug'25. From the Daily Registrations data from VAHAN, that I am assimilating in my Spreadsheets for 12 EV (2W) manufacturers, it is observed that Part-3 contributed nearly 42% of the total numbers for the entire month of Aug'25.

Let's start with the performances of the Top-5 players:

OLA Electric was clearly the star performer again. After reporting sharp improvement in Part-2, OLA Electric continued improving & grabbing the Top-spot in Part-3. This helped OLA close the month in No.2 spot with over 19% market share & almost 19,000 Registrations, a modest 6% M-o-M jump.

TVS Motor retained the No.1 spot for the month, but had to settle with No.2 for Part-3 of the month. Compared to ~ 26% or more market share in Part-1 & 2, TVS Motor saw it's share drop to little over 22% in Part-3. TVS managed to report a decent 7.5% M-o-M volume growth. It has launched a new Electric scooter model, priced under it's current iQube models. Let's see if the new model helps it expand the market share back again.

Ather Energy & Hero MotoCorp were the Mr. Consistents in Aug'25. While Ather managed to keep it's market share steady at 18% or little over that for all 3 parts, it has reported a healthy 9% M-o-M volume growth. Hero MotoCorp reported a strong 26% M-o-M volume growth & managed to hold on to it's market share around the 13.5% mark through all 3 Parts.

Bajaj Auto's Chetak dispatches were worst affected due to supply constraints of magnets needed for Motors. It's Aug'25 volume was just about half of it's Average monthly volumes for previous 7 months this Calendar year. Supply seems to have eased a bit in the final week of Aug. Let's see if Bajaj can start reporting daily figures close to what it used to do till a month ago.

Amongst the remaining 7 smaller players in my Spreadsheets, everyone except Honda reported modest M-o-M volume growth. The stand-out performances were from Simple Energy reporting 42% M-o-M growth & Revolt Motors managing 31% growth, though on small numbers. Honda, just like other Japanese Auto manufacturers, is clearly not taking the EV segment seriously yet.