Auto Sales December 2023: Ola Electric Registers 74 Per Cent Growth, Captures 40 Per Cent Market Share

Ola Electric has reported its sales for December 2023. The electric two-wheeler maker retailed 30,219 units in the last month of 2023, registering a year-on-year hike of 74 per cent compared to December 2022. Ola Electric continues to be a dominant force in the electric two-wheeler segment and the latest rise in numbers secures the manufacturer with a 40 per cent market share in this space.

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Ola Electric further revealed that it sold 83,963 electric scooters in the last quarter between October and December 2023, registering a 48 per cent growth over the same quarter in 2022. It revealed that it has emerged as the first-ever electric two-wheeler manufacturer to record over 2.65 lakh registrations in a calendar year, as per VAHAN portal. 

Speaking about the strong sales momentum, Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold.” 

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Ola Electric currently retails three e-scooters, including the S1 X, S1 Air and the S1 Pro. The company recently began deliveries for the S1 X+ e-scooter in the market. More recently, Ola’s co-founder and CEO Bhavish Aggarwal hinted at the company entering the electric two-wheeler rental business in tourist cities.