Mumbai, Sept 2: Ola Electric’s yearly sales fell sharply by over 31 per cent in August compared to the same month previous year, the government’s VAHAN data showed on Monday.The company sold 18,972 units last month, down from 27,624 units in August 2024.
However, on a monthly basis, Ola managed to bounce back, posting a 6.3 per cent increase in sales compared to July.
This recovery helped Ola climb to the second spot in the electric two-wheeler (E2W) market, overtaking Bajaj Auto.
According to the data, the overall E2W industry registered 1,04,306 units in August, marking a 1.4 per cent rise from July.
Ola Electric secured an 18.19 per cent share of the market in August, and the boost in its monthly numbers lifted investor sentiment.
Its stock price jumped over 11 per cent to around Rs 60.2, giving the company a market capitalisation of Rs 26,464.98 crore ($3 billion).
In last five days, the shares of the company were up by Rs 13.12 or 27.21 per cent. In the last one month, the shares climbed over 51 per cent.
On a longer timeframe, however, the stock has been cooling off, delivering a return of just over 11.2 per cent in the last six months, while falling nearly 29 per cent so far in 2025.
Bajaj Auto, however, slipped to the fifth spot, registering 11,730 units in August. Its sales dropped 40.3 per cent month-on-month, pulling its market share down to 11.25 per cent from 19.10 per cent in July.