The Indian electric two-wheeler (E2W) market witnessed a significant shift in November 2025, as TVS Motor Company reclaimed the top position, surpassing traditional rivals.1 Meanwhile, Ola Electric's sales plummeted by nearly 50% compared to the previous month, dropping the company to fifth place in the segment.2
Based on registration data from the government's VAHAN portal (as of November 28, 2025), the rankings and key sales figures for the top players are as follows:
| Rank | Manufacturer | Units Sold (Nov 2025) | Market Share |
| 1 | TVS Motor Company | 27,382 | ~26% |
| 2 | Bajaj Auto | 23,097 | ~21.9% |
| 3 | Ather Energy | 18,356 | ~17.4% |
| 4 | Hero Vida | 10,579 | ~10% |
| 5 | Ola Electric | 7,567 | ~7.2% |
TVS Motor Reclaims Leadership
TVS Motor Company bounced back strongly, driven by the consistent and growing acceptance of its iQube electric scooter family across the country.3 The company's success is attributed to its strong foundation, including:
Reliable build quality and established brand trust.
A stable nationwide dealership and service network.
Consistent supply chains and production from its Hosur plant, avoiding major delivery delays.4
Ola Electric's Sharp Decline
The most striking change was the sharp drop experienced by Ola Electric, which held the market leader position for much of the preceding year.
The company's retail sales of 7,567 units marked a significant downturn, representing a decline of nearly 50% compared to its October figures (which were around 16,000 units) and an approximate 80% fall from its peak in March 2024.5
The poor performance pushed Ola Electric to its lowest monthly sales volume in about three years, placing it behind Hero MotoCorp's electric arm, Vida, for the first time.
Industry analysts and reports attribute Ola's sales slump to a combination of factors:
Intensified Competition: Established players like TVS and Bajaj Auto have significantly ramped up their electric portfolios, offered aggressive pricing, and leveraged their wide dealer networks and brand trust to capture market share.
Customer Satisfaction & Service: Persistent concerns over product quality and after-sales support have reportedly led to customer dissatisfaction.
Delivery Issues: Some customers reported waiting periods that extended beyond initial promises.
Strategic Shift: Ola Electric is reportedly consolidating costs and prioritizing profitability after years of cash burning, which includes making operational cuts and taking a more measured approach to expansion.6
Other Key Players
Bajaj Auto secured a strong second position with its Chetak scooter, benefitting from wider availability and the trust associated with the decades-old brand name.7
Ather Energy maintained its strong hold on the premium electric segment, driven by its 450 lineup and newer models like the Rizta, alongside a robust charging network (Ather Grid).8
Hero Vida climbed to fourth place, showing impressive growth driven by expanding its presence in Tier-2 and Tier-3 cities, leveraging Hero MotoCorp's wide service network, and introducing volume-based models like the VX2.9
The November sales figures underscore the increasing competition and diversification of the Indian E2W market, suggesting that consistent product quality, stable supply, and a wide service network are becoming crucial factors for market leadership.