Ola Electric is one of the most popular electric two-wheeler manufacturers in the Indian market. Enjoy the sheer popularity amongst the customers, the company is also one of the early movers in the e-scooter segment. While Ola Electric has been doing consistently well in terms of sales figures, the month of March 2024 has brought good news for the company.
In the latest development, Ola Electric sold over 53,000 electric scooters last month, registering a new high for the fifth consecutive month. The electric two-wheeler manufacturer grossed highest highest-ever monthly sales in March 2024.
As per the announcement made by the company, the total bookings for its entire range of e-scooters stood at over 53,000 units for the month of March 2024. In addition to this, Ola Electric also revealed that it ended the last fiscal year with a staggering growth of 115% YOY by selling 3,28,785 units in total. Talking about the previous financial year (FY2023), the cumulative sales stood at 1,52,741 units.
It is also important to note that the overall industry size for the electric two-wheeler market grew by a healthy 30% and it is a good sign for all the manufacturers. The electric two-wheeler occupied 9% of the total two-wheeler sales in the month of March 2024. The company went on it highlight that it continued with its top spot in the electric two-wheeler segment in March 2024.
Apart from this, the quarterly sales result revealed a 42% growth from January to March 2024 as compared to the previous quarter. Ola Electric sold 1,19,310 units in the recent quarter over the previous quarter’s numbers of 84,133 units. Ola Electric currently sports 3 electric scooters in its line-up, i.e. S1 Pro, S1 Air and S1X+. The top-spec Ola S1 Pro will set you back by Rs. 1.3 lakh (ex-showroom), while the entry-level model costs Rs. 85,000 (ex-showroom).
All these electric scooters are operating on the company’s latest MoveOS 4. Constant product improvement, introduction of discounts and offers as well as the rising demand for electric two-wheelers are some of the major factors contributing to this growth.
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