Bajaj Chetak vs TVS iQube vs Ather 450X vs Ola S1: July 2022 Sales Compared

Bajaj and TVS witness growth but both Ola and Ather sales decline in July 2022

Bajaj and TVS witness growth, but both Ola and Ather sales decline in July 2022

Sales of electric scooters from various companies have quite a dramatic increase. From April to July, the electric 2-wheeler OEMs have already sold a total of 1,75,591 units. April marked the most sales at 49, 166 units, followed by July at 44, 475 units, then June with 42,260 unit sales and finally May with the least sales of 39,490 units.

Among the OEMs, Ola Electric now currently ranks second after Okinawa Autotech with a total of 31, 678 unit sales. But compromised build quality and an increase in fire accidents have left a visible impact with depreciating sales figures. For Ola Electric sold just 3,859 units in July 2022 compared to 12, 698 units in April 2022.
In comparison, TVS outsold its April sales by almost 3 times in July 2022. The Chennai-based manufacturer sold 4,258 units last month compared to 1,417 unit sales in April 2022. A reason behind this increase in sales can be approved to the recent revival of the iQube electric scooters. It is now available in three new variants – base iQube, mid-spec iQube S, and top-spec iQube ST.
Electric Two-Wheelers retailed in April, May, June, July*

Electric 2-wheeler OEMSApril 22′May 22′June 22′Jul 22Total
Ola Electric
Ather Energy
Bajaj Auto
TVS Motor Co1,9444,2588.062

It’s battery-pack has been updated into a bigger 4.56 kWh packed with the new generation of 21700-lithium-ion cells, compared to the 2.2 kWh battery pack from before. The 4.4 kWh electric motor remains the same as before. However, the overall torque output has increased from this set-up and it is now rated at 33 Nm. To further up the ante, TVS is also offering the iQube in 10 new exterior color options, compared to just one from before.

(Also Read: 2022 TVS iQube Launched in India With Three New Variants)
Even Bajaj Auto’s sales have increased from before. From April to July, the company sold a cumulative 7,073 units of its electric Chetak scooters, with the most numbers coming up last month with 2,433 unit sales. In April, the Pune-based two-wheeler automaker sold 1,121 units which rose to 1,724 units in May and 1,795 units in June.
Electric Two-wheelers June 2022 vs July 2022 Retail Sales – Market Share& MoM growth*

Electric 2-wheeler OEMSElectric 2-wheeler OEMSJuly 22′June 22′DiffGrowth % MoM%Share June 22
Ola Electric3,8595,892-2,033-34.50%15.65%
Ather Energy1,2863,830-2,544-66.42%10.18%
Bajaj Auto2,4331,79863535.32%4.78%
TVS Motor Co4,2581,9462,312118.81%5.17%

On the other hand, Ather was also witnessing a steady growth in its sales, until it launched the new Gen3 Ather 450X electric scooters. They had to shut down their factory for the most part of July to restructure their manufacturing line for the production of the new generation of scooters. Thus, the 1,286 unit sales of Ather 450X scooters for July were registered on the last 10 days of the month. The Bengaluru-based electric two-wheeler manufacturer sold 3,816 units in June and 3,333 units in May 22′, compared to 2,447 units in April.

Thus, on an MoM both Ola and Ather basis witness depreciation of -34.50% and -66.42%, respectively. But, Bajaj and TVS registered MoM growth of 35.32% and 118.81%, respectively. However, as of till June, Ola continues the hold the most market share at 15.65% over the other three manufacturers with the most units, despite the depreciation in its MoM sales. Of the three, Ather holds the most market share in July 2022 at 10.18%, followed by TVS at 5.17%, and finally Bajaj Auto at 4.78%.

(The Dara in Tables have been corroborated from FADA’s monthly sales)*