Ola Electric Scooter
Ola Electric’s retail sales have dropped sharply in recent months, with February 2026 volumes falling to just 3,968 units. This marks the lowest monthly sales for the company in more than four years, returning to levels last seen during the early phase of its market entry in 2021/22.
The decline is notable as Ola Electric has continued expanding its product lineup over the past few years. The company has introduced multiple new electric scooters / variants and even launched electric motorcycles, while simultaneously expanding its distribution network. Despite these efforts, monthly retail volumes have continued to slide.
Ola Electric Sales Last 50 Months. Source – FADA
From EV Market Leader To Sharp Sales Decline
Ola Electric had emerged as one of India’s largest electric two-wheeler sellers during 2023 and early 2024. The company recorded its highest-ever monthly retail sales of 53,646 units in March 2024, with several months in 2024 crossing the 30,000–40,000 unit mark.
However, the momentum began weakening through late 2024 and into 2025. While the year began strongly with 24,413 units in January 2025, sales steadily declined through the year. By October 2025, volumes had dropped to 16,036 units, followed by 9,021 units in December 2025. The slowdown has intensified in 2026. After reporting 7,516 units in January 2026, sales fell further to 3,968 units in February 2026, one of the lowest monthly figures since February 2022, when Ola sold 3,910 units.
Ola Electric Sales Last 50 Months
Rising Competition In Electric 2W Segment
While Ola’s sales have declined, the overall electric two-wheeler market continues to grow rapidly. Established manufacturers such as TVS, Bajaj, Ather and Hero MotoCorp’s VIDA brand have been steadily expanding their EV portfolios and dealer networks. Legacy OEMs are increasingly leveraging their strong service networks, brand trust and dealership reach, allowing them to capture a larger share of the fast-growing EV market.
Ola Electric Sales Last 4 Years
Stock Price Also At Record Lows
The slowdown in sales comes at a time when Ola Electric Mobility’s stock price is also under pressure. The company’s shares are currently trading around Rs 24.52, marking a decline of over 73% from their peak levels, reflecting weak investor sentiment amid slowing sales momentum and intensifying competition in the EV space.
With retail volumes now at a four-year low and the stock price sliding sharply, the coming months will be critical for Ola Electric as it attempts to regain momentum in India’s rapidly evolving electric two-wheeler market.
