TVS Motor retained its number one position in monthly electric two-wheeler (E2W) sales in September, holding the top spot for the sixth consecutive month since the start of the current fiscal year.
The iQube e-scooter maker sold 21,052 units in September, capturing a 22% share of the 96,031 electric two-wheelers sold during the month, according to the latest Vahan data. This compares with 18,256 units and a 20% share in September last year. While the iQube continues to anchor its EV portfolio, TVS broadened its lineup in late August with the launch of the Orbiter—a sub-₹1 lakh scooter priced at ₹99,900, aimed at the cost-conscious urban family segment.
How do Bajaj Auto and Hero MotoCorp rank?
Bajaj Auto, which had slipped to fifth place in August, bounced back to reclaim the number two spot in September. The Chetak maker sold 17,972 units during the month, securing a 19% market share. Bajaj, which had long held the second position, had fallen sharply in August to fifth with just 11,821 units (11% share), trailing TVS Motor, Ola Electric, Ather Energy, and Hero MotoCorp. The decline was attributed to China’s restrictions on rare earth magnets, which disrupted production and supply chains for multiple EV makers. Bajaj later confirmed it had resumed production and restored Chetak deliveries in the last week of August.
Ather Energy overtakes Ola Electric
Meanwhile, Ather Energy overtook Ola Electric to reclaim third place in September. Driven by strong demand for its family-oriented Rizta scooters, Ather sold 16,558 units, giving it a 17% share—up from 14% in the same month last year.
Ola Electric, by contrast, saw a sharp dip in volumes despite aggressive festive promotions and steep discounts. The company sold 12,223 units in September, translating into a 13% share, down from 19,020 units and 18% in August.
Ola had rolled out a festive campaign with introductory prices starting at ₹49,999 for its S1 range and Roadster X motorcycles, claiming its entire nine-day campaign inventory sold out within five minutes on launch day. The company’s “Muhurat Mahotsav” offer runs through October 1, and its final September sales may rise once updated Vahan data is published, given the typical one- to two-day reporting lag.
Hero MotoCorp also gained ground, posting a sharp year-on-year jump in September. The company sold 11,856 units, securing a 12% share compared with 5% a year earlier. Hero’s Vida brand has doubled its market share since the start of FY25, boosted by the launch of its most affordable Vida VX2 scooter in July. Priced at ₹59,490 and equipped with swappable batteries and a Battery-as-a-Service option, the VX2 has become a key driver of Hero’s rising monthly volumes.
