Bangalore-based Ola Electric has released the sales figures for March 2024 and has announced overall positive growth for the company. The brand has recorded over 53,000 registrations in the said month, according to the VAHAN portal, reporting the highest-ever monthly consecutive sale.
With a significant YoY growth of 115 per cent, the EV brand managed to register 3,28,785 units in FY24 and over 1,52, 741 units in FY23. For March, Ola has managed to further increase its market share by 42 per cent QoQ, with the registration of 1,19,310 units as compared to 84,133 units in the corresponding month last year.
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Commenting on the achievement, Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said, “There couldn’t have been a better year-end for us to FY24 with our registrations zooming past the 53,000 mark in March. The past year has been a momentous one for us as well as the EV industry, and we have been the market leader for the full financial year recording consistent growth in both volumes and market share.”
He further added, “The fact that we recorded almost 1.20 lakh registrations in Q4 FY24 alone speaks volumes of our robust scooter portfolio, and we aim to continue the growth trajectory and contribute further to India’s electrification journey.”
With the introduction of the S1 X (4kWh), Ola Electric’s portfolio now consists of three models, the entry-level S1 Air, followed by the S1 X and the range-topping S1 Pro. Prices of the Ola scooters range start from Rs 1.05 lakh and go up to Rs 1,30 lakh, both ex-showroom.
