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TVS retains EV two-wheeler lead in October; Ather grows 3%, Ola declines 10%

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TVS retains EV two-wheeler lead in October; Ather grows 3%, Ola declines 10%

India’s electric two-wheeler market continued its growth momentum in October, with registrations increasing to 2,23,847 units from 2,08,705 units in September, with TVS Motor retaining its leadership, while Ather Energy posted marginal growth and Ola Electric saw a decline in registrations.

According to latest Vahan data, TVS Motor led the market with 60,429 registrations in October, accounting for a 27% market share. The company’s registrations increased 11.08% month on month from 54,403 units in September, further strengthening its lead over other manufacturers.

Bajaj Auto retained the second position with 49,067 registrations and a 21.92% market share. However, its registrations grew marginally by 0.67% compared to 48,742 units in the previous month.

Ather Energy ranked third with 31,796 registrations and a 14.2% market share. Its registrations rose 2.75% month on month. The company also turned profitable in Q2 FY27 as revenue surged 63% year on year to Rs 1,464 crore.

Following 27% growth in September, Hero MotoCorp continued its strong run in October, with registrations increasing 22.34% month on month to 29,901 units from 24,440 units. The company held a 13.36% share of the electric two-wheeler market during the month.

Ola Electric remained in fifth position with 12,096 registrations and a 5.4% market share. It was the only player among the top five to report a monthly decline, with registrations falling 10.12% from 13,458 units in September.

3% month-on-month increase from 9,319 units in September. 3% to 6,796 units against 5,649 units in September.



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