Ola Electric Sees Over 57% Drop in July Sales, Market Share Slashed by Half

Ola Electric, previously the uncontested champion of India's electric two-wheeler market, is now seeing its dominance seriously eroded. According to the government's VAHAN data published on Friday, the company had sold only 17,848 electric scooters in July 2025—a whopping 57.29% decline from the 41,802 units it had sold in the same month last year.

This precipitous drop in volumes has reflected immediately on the market share of the company, which has tumbled from 38.83% to 17.35% year-on-year.

The slump in sales has also led to a big drop in the market valuation of Ola Electric. The market capitalisation of the company has declined by more than 45%, which fell from ₹33,521 crore ($3.95 billion) to ₹18,190.2 crore ($2.14 billion).

Ola Electric's share performance is grim. The shares are now at ₹41.2, a precipitous fall from its listing value of ₹76. The stock had touched an all-time high of ₹157.4 soon after it made its debut but has been declining steadily since then.

In the last six months, the stock has lost 43.3%, or ₹31.69, whereas the YTD performance indicates a more drastic loss of more than 52%, amounting to ₹44.84.

Aside from share troubles, the firm has been plagued by persistent falling volumes each month, which have allegedly resulted from intensified competition and growing customer unhappiness, industry sources report.

Financially, Ola Electric's performance in the first quarter of FY26 has added to concerns. The firm posted a net loss of ₹428 crore, marking a nearly 30% increase from the loss reported in the same period the previous year. Operational revenue halved to ₹828 crore. E-scooter deliveries also slumped significantly—from 1,25,198 units in Q1 last year to just 68,192 units this year.

The company, in a recent letter to shareholders, has said that it is now concentrating on operations simplification, profitability improvement, and preparation for future product launches. "Consolidating and institutionalising operations, improving margins, and preparing for the next phase of growth," the company said.

In the coming years, Ola Electric has estimated 3.25 to 3.75 lakh vehicles of sales for FY26, targeting revenue of ₹4,200 crore to ₹4,700 crore.