TVS Leads as Ola Records Steep Decline in November 2025 Electric Two-Wheeler Sales

In October 2025, Ola Electric sold 16,034 units, which was a 62% decline compared to the previous year, marking a significant drop in sales. This decline continued into November 2025, where Ola Electric's registrations fell to 4,800 units, reflecting a staggering 71% year-on-year decrease. The consistent decline in sales raises concerns about Ola Electric's market position amidst increasing competition.

Ola Electric's decline in sales can be attributed to several factors, including a backlash against the company's founder, Bhavish Aggarwal, after a public controversy that likely affected consumer perception. Additionally, the reduction in EV subsidies by the government and overall weaker demand for electric two-wheelers may have contributed to the steep drop in registrations for Ola Electric.

River Mobility exhibited the most remarkable growth in November 2025, with registrations soaring to 1,797 units, which translates to a staggering 649% year-on-year increase compared to just 240 units in November 2024. This sharp rise indicates a rapidly growing consumer interest in River Mobility's offerings amidst a competitive market.

From January to November 2025, TVS Motor Company led with cumulative sales of 2,72,874 units, followed by Bajaj Auto at 2,50,366 units and Ather Energy with 1,83,163 units. Ola Electric reported a cumulative tally of 1,90,088 units, despite its significant decline in November. This data highlights the competitive landscape and the varying performance of manufacturers in the electric two-wheeler segment.

The reduction in government EV subsidies in 2024 and 2025 had a pronounced impact on the electric two-wheeler market, leading to weaker demand. Manufacturers had to offer substantial discounts to attract buyers, particularly during the festive season. This shift in consumer behavior and the competitive pricing strategies directly influenced sales performance across various brands, including significant players like Ola Electric.