Bajaj Auto has regained its second position in monthly electric two-wheeler (E2W) sales after ceding the spot to Ola Electric in August, when a rare earth magnet supply chain disruption severely impacted its production and retail volumes.
According to the latest Vahan data, the Pune-based automaker sold 5,935 units in September, securing a 20% market share in total E2W sales till date. Bajaj Auto — which also sells the Chetak brand of e-scooters — held the number two position for several months before slipping behind Ola Electric in August. Its sales in the past month fell more than 30% to 11,802 units due to China’s curbs on rare earth magnets. The company, however, resumed production and restarted supplies of its Chetak scooters from the last week of August.
What did Eric Vas Say?
“Demand for Chetak remains robust, supplies have normalised, and deliveries against bookings have commenced. We are scaling up production to meet rising demand while staying true to our standards of quality and customer delight,” Eric Vas, president — Urbanite Business Unit, Bajaj Auto, said earlier.
Bajaj Auto was the first one to flag the rare earth supply chain issue during the company’s first-quarter earnings call. Its MD Rajiv Bajaj had warned that an acute shortage of heavy rare-earth magnets could bring production to a standstill in August. He had also flagged that switching to alternative suppliers or redesigning components would be costly and time-consuming, particularly with the festive season approaching.
How do these companies rank today?
Meanwhile, Ola Electric, which overtook Bajaj in August to claim the second spot, slipped back to fifth position in September, falling behind both Ather Energy and, for the first time, Hero MotoCorp. The Bhavish Aggarwal-led company sold just 3,694 units to date, translating to a 12% market share.
Ather Energy registered sales of 5,528 units, securing an 18% market share, while TVS Motor retained its leadership with 6,769 units sold, commanding a 22% market share. TVS has also expanded its EV line-up with the recent launch of the TVS Orbiter, priced at ₹99,900. Positioned as the company’s entry-level EV offering, the Orbiter sits below its popular and best-selling iQube e-scooter range.