India’s EV Two-Wheeler Market: March 2025 Sales Report – Bajaj Auto Leads, TVS and Ola Follow

The EV two-wheeler market, especially in the commuter segment scooter market, has been experiencing significant growth and the brands have been displaying immense competitive spirit to come out as the top-selling brand in the market. Considering this competitive shift, here are the top six brands which are bagging success all over the country, which continues with the latest sales trends of the monthly sales chart.

The table below depicts the overhaul sales in March 2025, concerning FY figures:

Bajaj Auto

​Bajaj has been sitting in the top position since February 2025 with their best monthly sales of 34,863 units in March 2025. According to Bajaj’s last month’s performance, this is the third time Bajaj has outsold the competition. Bajaj Auto's previous best monthly sales were in October 2024 with 28,415 units.

Bajaj’s consistent growth throughout the fiscal shows that Bajaj has sold 230,761 Chetaks in FY2025, which is a 116% increase as FY2024’s sales were 106,624 units. An additional sale of 124,137 units has enabled Bajaj to step over the 200,000 milestone in the fiscal year for the first time in that matter. The company’s electric two-wheeler market share has nearly doubled to 20% from 11% in FY2024.

Bajaj Auto has been contending with legacy rival TVS Motor Co. The sales gap between these two OEMs in FY2024 was 76,565 units, which indicates the rapid demand for the Bajaj Chetak.

TVS Motor Co.

The TVS Motor Company has been gripping the second position concerning sales for a seemingly long time. TVS was close to bagging first place in January 2025 but slipped by 542 units against OLA Electric. In March 2025, the TVS iQube was bought by 30,453 consumers, giving it a monthly market share of 23%. This is TVS' best-ever monthly sales when compared to the sales of October 2024 amounting to 30,180 units.

In the entire FY2025, TVS Motor Company has retailed 237,551 units, an increase of 30% YoY (FY2024 was 183,189 units), which makes an additional 54,362 units, giving it a market share of 21% for the fiscal year, an increase of 2% on FY2024’s 19%.

TVS has also surpassed the 200,000-unit retail milestone in a fiscal for the first time and has hit record retail, although the sales of the two legacy companies, a sales gap, which was 76,565 units in FY2024, has shrunk to 6,790 units in FY2025.

OLA Electric

​Ola Electric, which did remain the overall electric two-wheeler market leader for the third straight fiscal year, sold 23,430 units in March 2025 for a market share of 18% in March. OLA, which retained its No. 1 title in January 2025, dropped down by three ranks in February to No. 4. OLA’s improved performance in March has let the company move up to second position after Bajaj Auto and ahead of TVS Motor Co.

With respect to cumulative retail sales front, with 344,004 e-scooters and e-motorcycles sold between April 2024 and March 2025, Ola has registered a 4% YoY increase, surpassing its FY2024 total of 329,947 units by 14,057 units. This has given the company an FY2025 market share of 30%, which is a dip by 5% on the 35% market share it had in FY2024.

Ather Energy

​Ather Energy sold 15,446 e-scooters in March 2025, giving it a 12% market share and the No. 4 rank. Ather’s total FY2025 retails at 130,913 units are a 20% YoY increase, having sold an additional 21,752 units, giving Ather a market share of 11.39% when compared to 11.50% in FY2024 when it had sold 109,161 units.

Ather’s March 2025 sales are the e-scooter start-up's second-best monthly retail since October 2024's 16,233 units.

Hero MotoCorp

​Hero MotoCorp closed FY2025 with a monthly retail of 7,977 units, improving upon October (7,350 units) and November 2024 (7,344 units). This totals FY2025 to 48,668 units, which resulted in a 175% YoY growth (FY2024: 17,720 units).

Greaves Electric Mobility

​Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, is ranked fifth for March 2025 and sixth for FY2025. In March, the company sold 5,641 e-scooters, which is its best-ever monthly retail yet, which gives it a 4% share for the month. GEM’s FY2025 retails of 40,161 units are at an increase of 28% on its FY2024 sales of 31,276 units and give it a market share of 3.49%, which is a marginal improvement upon its 3.29% share of FY2024.

Also Read: Redefining the Future of Electric Mobility with the Kia EV6​