Festive Demand Drives Bajaj Auto to Top Spot in EV Two-Wheeler Sales; Ola Electric Slides to Fourth
India’s electric two-wheeler market witnessed a major shift in October as Bajaj Auto surged past competitors to claim the top position in monthly sales, riding high on festive demand, cashback offers, and new model launches. According to data from the government’s Vahan portal, Bajaj Auto sold 29,597 electric scooters in October 2025, capturing a 21.9 percent market share — the company’s strongest monthly performance to date.
Trailing close behind, TVS Motor Company registered sales of 28,008 units, commanding a 20.7 percent share, while Ather Energy notched up its best-ever monthly sales with 26,713 units and a 19.6 percent share. Meanwhile, Ola Electric, once the market leader, continued its downward slide to the fourth position for the second consecutive month, recording 15,481 units sold and an 11.6 percent market share.
Overall EV Market Crosses 2 Lakh Units in October
October proved to be a milestone month for the electric mobility sector in India. Total electric vehicle (EV) registrations across all segments touched 2.04 lakh units, an 11 percent sequential rise after two months of decline. Industry observers attribute this surge to festive season discounts, increased product availability, and easier financing schemes introduced by OEMs and dealers.
For context, September 2025 had seen EV two-wheeler registrations of 96,031 units, led by TVS Motor at 21,052 units, followed by Bajaj Auto at 17,972 units, Ather Energy at 16,558 units, and Ola Electric at 12,223 units. The October data shows a sharp rebound across the board, signaling renewed consumer confidence and robust market sentiment heading into the last quarter of the year.
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Festive Offers and Financing Schemes Spark Growth
Industry executives highlighted that festive schemes played a pivotal role in driving October’s growth. Bajaj Auto’s Chetak Urbane and Premium models received strong traction, backed by cashback offers and low down payment options, which attracted first-time EV buyers.
Similarly, TVS Motor’s iQube lineup performed strongly in major metropolitan areas, supported by consistent product availability and extended dealership networks. Ather Energy, on the other hand, capitalized on the launch of its 450 Apex variant and charging grid expansion, which enhanced customer confidence in long-term usability.
“The festive season served as a perfect catalyst for electric mobility adoption. With better consumer financing and increasing charging infrastructure, EV two-wheeler demand is showing sustainable growth momentum,” said an industry analyst tracking EV trends.
Ola Electric Faces Competitive Pressure
Ola Electric, which dominated India’s electric two-wheeler space for much of 2023 and early 2024, has seen a continued dip in its market position. The brand’s October sales of 15,481 units marked a decline from its earlier highs, reflecting rising competition and price sensitivity among buyers.
Industry watchers suggest that while Ola remains a key player, newer models from rivals and growing dealer-based networks by legacy manufacturers like Bajaj and TVS have made market competition more intense. Moreover, customers are showing increased preference for physical touchpoints and after-sales service, areas where traditional manufacturers have an edge.
Ather Energy Achieves Record Monthly Sales
Ather Energy’s performance stood out as a highlight for October. The company achieved its highest-ever monthly sales at 26,713 units, benefiting from aggressive marketing, expanded retail presence, and improved charging infrastructure. With this, Ather now commands nearly 20 percent of India’s EV two-wheeler market, positioning itself as a strong contender for the No. 2 spot in the coming quarters.
EV Market Outlook: Sustained Momentum Ahead
Despite expectations of a slight moderation in November as the festive season winds down, analysts believe the growth trajectory remains positive. Upcoming model launches, ongoing price corrections, and government incentives for localized manufacturing under the FAME-II scheme are likely to sustain momentum in the near term.
“The Indian EV two-wheeler segment has entered a new phase of maturity. The leadership battle between Bajaj, TVS, Ather, and Ola will now be driven by network strength, customer experience, and continuous innovation rather than just price,” said an auto industry expert.
The top four manufacturers — Bajaj Auto, TVS Motor, Ather Energy, and Ola Electric — together accounted for over 70 percent of total electric two-wheeler sales in October, underscoring their dominance in India’s evolving e-mobility landscape.
Conclusion
With Bajaj Auto reclaiming leadership and Ather Energy gaining historic highs, India’s EV two-wheeler market is seeing renewed competition and robust growth. The festive season has not only boosted demand but also reaffirmed consumer trust in electric mobility. As the segment expands with new entrants and more localized manufacturing, India is well on its path toward becoming a global hub for electric two-wheelers.
