Synopsis
India's electric two-wheeler market experienced a significant 22% dip in April registrations, falling to 1.48 lakh units after a March peak. Despite a broad decline, Ola Electric saw a notable 20% surge in sales, improving its market share. This slowdown follows a strong FY26 growth driven by legacy automakers and aggressive March sales tactics.Listen to this article in summarized format
Market leader TVS Motor and Bajaj Auto retained their top spots, with 37,661 and 32,883 units respectively. However, TVS sales fell 24% and market share slipped to 25.33%, while Bajaj reported one of the steepest declines, with registrations dropping nearly 29% month-on-month.
Despite the broad-based drop, Ola Electric stood out with registrations rising over 20% to 12,166 units. Its market share improved to 8.18% from 5.4% in March.
The April slowdown comes after a strong FY26, when the e2W market grew about 22% year-on-year, driven largely by legacy automakers gaining share. March, in particular, saw aggressive retailing and inventory push with different sales discounts, cashbacks and financial schemes.
Ather Energy saw volumes fall over 25% to 27,024 units from 35,736 registrations in March. Hero MotoCorp remained fourth, with a 29% drop in sales to 15,230 units, while Greaves Electric Mobility also reported a 13.6% decline to 6,884 units.
Among smaller players, Greaves Electric (6,884), River Mobility (3,198), BGauss (3,065) and Simple Energy (1,188) maintained their positions in the top 10, while Bounce entered the list after recording more than threefold growth in April at 1,077 units.
