Rivals like TVS Motor and Bajaj Auto have made steady gains, with both companies reporting increased market share for five and three consecutive months, respectively.
In September, Ola Electric recorded its lowest monthly sales this year, with 23,965 units sold, marking its second straight month of decline, according to government data. The company’s market share has dropped steadily over the last five months, from over 50% in April to just 27% by September.
As TVS and Bajaj close the gap, Ola’s struggles are compounded by a strained servicing network, which has resulted in complaints and a backlog of e-scooters. Meanwhile, Bajaj and TVS have expanded their dealership networks, with Bajaj growing its outlets for Chetak e-scooters from 100 to over 500 in just a year. In comparison, Ola’s network has seen modest growth, rising from 750 to 800 dealerships.
The service-related challenges have also led to notable incidents, including the arrest of a man who set fire to an Ola showroom in Karnataka over dissatisfaction with scooter servicing. Analysts from HSBC warn that Ola’s ability to maintain its market share hinges on improving its after-sales service network.
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