The company offered discounts nearing 18% or ₹20,000 on the SIX+electric scooter, its cheapest offering in the market, as it moved to grab a larger share of the e-two-wheeler market ahead of a potential public listing early this year.
While there were negligible discounts on the TVS iQube and Bajaj Chetak after the festive season, Hero's Vida VI and Ather's 450 range of scooters had cash discounts of just 16,500, according to a report by Motilal Oswal. Ola was followed in the market share pecking order by TVS Motor (16.2%) and Bajaj Auto (13.7%). No other company touched double-digit market share in December.
Ola is planning to continue the discount on the SI X+ in January, a person aware of the matter said on condition of anonymity. It will also launch promotional offers each month, such as exchange bonuses, even though they may not be cash discounts.
This is the first month in nearly three years that any company has crossed 40% market share in this segment.
Denne historien er fra January 03, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 03, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Premium the watchword for SBI as Q2 profits surge
Chairman says the bank will compete on quality of service, not on deposit rates
India eyes grants, loans for Global South at COP29
India plans to leverage its climate commitments to pitch for grants and concessional loans, instead of investments for the Global South, at the upcoming climate negotiations in Baku, two people aware of the matter said.
Tata Steel's Q2 show weighed down by slow Europe revival
The September quarter (Q2FY25) earnings of Tata Steel Ltd had its share of positives even as European operations remain a drag.
Spectre of fall in revenue nixes telecom levy cut
Indian telecom service providers' hopes to get relief from levies on adjusted gross revenue (AGR) might get dashed on the Union finance ministry's revenue concerns, according to two senior officials close to the discussions.
Zomato, Swiggy face CCI heat on antitrust violation
An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show.
Trump enters just as the Fed is shifting its focus
With its second consecutive interest-rate cut this year, the Federal Reserve is attempting to boost the odds of a soft landing.
Regulator gets staff to enforce drug quality
The govt is planning to fill 250 new positions to strengthen enforcement
Govt unveils scheme for meditech industry
The government on Friday launched a scheme aimed at strengthening the medical devices industry with an initial outlay of ₹500 crore for three years 2024-2025 to 2026-27.
RATAN TATA MADE INDIA A BETTER, KINDER PLACE
Shri Ratan Tata's support for the Swachh Bharat Mission was close to my heart
Ministry cancels allocation of coal block to JSW Steel
The Union coal ministry has annulled the allocation of the Banai-Bhalumunda coal block in Chhattisgarh to Sajjan Jindal-led JSW Steel over the non-payment of a performance bank guarantee worth about ₹1,000 crore.
