The Chetak electric scooter has been a big winner. Its maker, Bajaj Auto, notched up an enviable share of 25% in the electric two-wheeler (E2W) space in December, leaving Ola Electric with a share of just 19% and others with 14%. With TVS Motor's share at 23%, the ICE (internal combustion engine) players are making the switch to EVs remarkably well.
The market, however, shrank, with total E2W sales falling sharply to 12,090 units in December from 1.39 lakh units in October and 1.19 lakh units in November.
It's been a rough ride for Ola Electric, which, even in April 2024, enjoyed a 52% share of the market; at the time Bajaj's share was just 11%. Bajaj's success can be credited to a strategic pivot to the mass market and the addition of dealers to its network. Ola was the first to introduce a range of scooters below the ₹1 lakh mark, a segment into which Bajaj and TVS had not ventured.
The company, which revived the iconic Chetak brand for electric scooters in 2020, had been focused on the premium segment, pricing its vehicles at more than ₹1.2 lakh. In June 2024, however, Bajaj shifted gears, launching the Chetak 2901, priced at ₹96,000 to target the sub-₹1 lakh mass market. Its monthly sales volumes, which were clocking just over 1,500 units in April, nearly tripled to 8,035 units by December.
Diese Geschichte stammt aus der January 06, 2025-Ausgabe von Financial Express Bengaluru.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 06, 2025-Ausgabe von Financial Express Bengaluru.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
HMPV: Centre asks states to step up surveillance of respiratory illnesses
Two suspected cases of the virus were reported from Nagpur, taking the total number to seven
Nvidia Unveils New Tech for Gamers
● Also announces first desktop PC
Samsung CEO touts AI fridges & washers
SAMSUNG ELECTRONICS IS ramping up investment in AI for consumer electronics, betting on its ubiquitous presence in gadgets from smartphones to TVs to help it stake out a spot in the AI arena.
Only 1 in 5 Sees Household Income Rising in '25: Study
ONLY 24% OR 1 out of every 5 Indians expects their household income to rise in 2025, a survey released on Tuesday showed.
A boost to Act East policy
STRATEGIC ALLIANCES WITH GLOBAL BHARATIYAS
Orbit, Sanabil Launch Startups' Accelerator
ORBIT STARTUPS (ORBIT) and Sanabil Investments have launched an accelerator programme to cultivate early-stage startups from the Saudi Arabia and the Middle East and North Africa (MENA) region as well as global startups seeking to expand into the region.
BPCL board clears ₹1K-cr MNGL IPO
THE BOARD OF state-owned Bharat Petroleum Company has given an in-principle approval for the listing of Maharashtra Natural Gas (MNGL)—its joint venture company with GAIL and Indraprastha Gas, the company said on Tuesday.
Growth engine runs out of steam
THAT REPRESENTS A loss of 6.4% growth over the period, against an average annual growth of 6%.
Vi planning phased 5G rollout, says CEO
VODAFONE IDEA is preparing for a phased 5G rollout, and will launch new tariff plans in 2025, the telco's CEO Akshay Moondra wrote to Vi customers in an emailed new year greeting.
The cost of consent
The proposed DPDP Rules challenge marketers to rethink strategy
