TVS tops April monthly sales as competition tightens in electric two-wheeler segment
This is the first time the legacy brand has toppled Ola Electric and Bajaj Auto on the back of demand for its TVS iQube Electric.
The electric two-wheeler segment displayed heightened rivalry between the top players in April, as legacy player TVS Motor took the top spot in sales for the first time.
TVS Motor, which saw rising demand for its iQube Electric scooters, sold 19,749 units during the month, capturing a market share of 21.5%.
Despite TVS’ rise to the top, rival companies were close behind. Bhavish Aggarwal-led Ola Electric sold 19,709 units during the period, garnering a 21.47% market share, while Bajaj Auto sold 19,011 units.
Ather Energy, which closed its public subscription and is on track to become the second publicly listed EV player, sold 13,173 units during April. The company is tentatively scheduled to list on public bourses on May 6.
The competition between these players has strengthened over the past few months, with Bajaj Auto topping the February and March sales, while Ola Electric took the spot in January.
December 2024 was the first time Ola Electric was toppled from its consistent standing as the market leader in the electric two-wheeler segment. The company on Thursday said it delayed deliveries of its Roadster X motorcycles to May this year, as opposed to the earlier date of April 11.
For the past few months, Ola Electric has been in regulatory crosshairs regarding sales discrepancies observed on the Vahan portal, the national vehicle registry system, and the actual sales numbers the company reported.
According to a CNBC-TV18 report, the Ministry of Heavy Vehicles was investigating these differences. In March 2025, Ola Electric confirmed receiving inquiries from the Ministry of Heavy Industries and the Ministry of Road Transport and Highways of India over discrepancies in sales data and non-compliance with trade requirement certificates.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric)
Edited by Suman Singh