The electric two-wheeler manufacturers in India have registered robust retail sales of 91,791 units in April 2025, up 40 percent YoY (April 2024: 65,555 units) according to the latest retail sales data available on the Vahan portal (7am on May 1, 2025).
TVS Acing The Game
Prior to this, electric two-wheeler manufacturers in the country have wrapped up FY2025 with record sales of 1.14 million units.
With 19,736 units, TVS iQube has topped monthly sales for the very first time in April 2025, narrowly beating Ola Electric (19,709 units) as mentioned in the Vahan retail sales data.
Although these numbers are still 30 percent less than the March 2025 sales of 1,31,163 units.
But March is also the last month of the fiscal year so it usually pulls in more sales.
Usually, April sales have been somewhat tepid as it is followed by slow sales momentum in the monsoon months.
After this, strong sales in the festive season around September-October is expected.
With this presentation, we can say that FY2026 has opened on a very strong note for the Indian E2W industry, further giving it a good foundation to build on for another fiscal year of strong sales.
Sales Figures Reported by TVS, Ola Electric, Bajaj Auto, Ather Energy And Hero MotoCorp
Earlier, TVS Motor Co sported the second position but now it has finally topped the sales charts.
Besides TVS, the Hosur-based major came very close to being No. 1 in January 2025 later on it was pipped to the post by Ola.
There was a close competition with 19,736 units as TVS has beaten Ola and topped the charts by a mere 27 units.
In this race, Ola Electric narrowly missed out on being the bestseller in April 2025 with the sales of 19,709 units.
Prior to this, it had topped the monthly sales chart in January 2025, but later on lost its spot to Bajaj Auto in February and March 2025.
While that being said, Bajaj Auto has achieved third place in April 2025 which earlier topped the e-2W chart in February (21,563 units) and March (35,160 units) marking its lowest sales in three months.
Analysts say that this is due to buyers waiting for the company to roll out the most affordable Chetak in the new 35 series.
Next in line is Ather Energy, which sold 13,167 units in April, up 31 percent YoY (FY2024: 4,144 units).
With these numbers, it has occupied a monthly market share of 14 percent versus 6 percent in April 2024.
In the case of Ather, its main growth driver is the Rizta family e-scooter launched a year ago.
Hero MotoCorp sales are up 540 percent YoY with the sale of 6,123 Vida V2 e-scooters in April 2025 compared to 956 units a year-ago.
