TVS tops record e2W sales in October, Ola falls for 4th month

TVS crosses 60,000 units in a month for the first time

India's electric two wheeler market had its best month yet in October 2026. Retail registrations on the Vahan portal totalled 223,847 units, up 48 percent from 150,891 units in October 2025 and up 7 percent from 208,705 units in September 2026, according to data compiled by Autocar Professional.

TVS Motor Company led the market with 60,429 units, a 94 percent jump over the 31,076 units it sold in October 2025. It is the first time any Indian electric two wheeler brand has crossed 60,000 units in a single month. TVS sells its iQube and Orbiter scooters under a Battery as a Service plan that cuts the upfront price, which the company has credited for part of the demand. TVS now holds 27 percent of the e2W market.

Bajaj Auto was second with 49,067 Chetak units, up 51 percent year on year, for a 22 percent share. Ather Energy sold 31,796 units, up only 5 percent, holding 14 percent share. Hero MotoCorp's Vida brand sold 29,901 units, up 81 percent, for 13 percent share. Greaves Electric Mobility, which sells Ampere scooters, sold 10,838 units, up 40 percent. River Mobility, a newer entrant, grew 273 percent to 6,796 units, and BGauss Auto sold 5,554 units.

Ola Electric falls for a fourth straight month

Ola Electric was the only brand among the top ten to post a year on year decline. The company registered 12,096 units in October, down 26 percent from 16,439 units a year earlier, and its share slipped to 5 percent from 11 percent. Business Today reported this marked Ola's fourth consecutive monthly fall, as the company that once led the e2W market loses ground to TVS, Bajaj, Ather and Hero Vida.

The slide comes even as the overall market expands. Nine of the top ten e2W makers grew in October, Business Today noted, which points to the slowdown being specific to Ola rather than a sign of weaker scooter demand across the category.

Electric cars also had a record month

The same Vahan pull showed electric passenger vehicle registrations at 37,049 units in October, up 76 percent year on year and up nearly 3 percent over September. Tata's electric cars led with 14,669 units, Mahindra followed with 8,538 units, and MG Motor India registered 5,939 units. VinFast, which only entered India this year, registered 2,571 units against 142 a year ago.

What it means for buyers

The e2W numbers suggest more competition on price and after sales for anyone shopping an electric scooter this festive season, with TVS and Bajaj now pulling ahead on volume and Ola needing to answer with service and pricing moves of its own. For electric car buyers, the growth at Tata and Mahindra and the entry of VinFast point to a wider field of options than a year ago, though combined EV car volumes remain a small slice of the roughly 5 lakh passenger vehicles registered every month in India.

Sources

• Diwali comes early for electric 2Ws: October sales cross 2,23,000, TVS delivers record 60,429 units
• EV two wheeler sales jump 48% in October, electric car registrations surge 76%. TVS leads market
• Indian e-two-wheeler sales crosses a record 2.23 lakh units in October