After more than a year of sliding volumes, Ola Electric has finally posted numbers moving in the right direction. The company registered 43,719 electric two-wheelers on the Vahan portal between April and June 2026 — nearly double the 22,252 units it managed in the January–March quarter. June alone contributed 16,144 registrations, its strongest month in recent quarters, and the stock rallied when the figures landed in early July.
A real recovery — from a low base
The sequential doubling is genuine progress. Ola attributes it to better retail execution, improved product availability and steadier demand after several quarters spent firefighting service complaints and registration backlogs. The June momentum also coincided with a favourable tailwind at home: Delhi's new EV policy — with an e-two-wheeler subsidy of up to ₹30,000 — took effect on July 1, and EV stocks including Ola rallied in the run-up.
But context matters. A year ago Ola was still fighting for the #1 spot; today it sits behind TVS, Bajaj, Ather and Hero Vida in the monthly pecking order. In a June market that grew 75% year-on-year to 1,93,495 units, Ola's 16,144 registrations translate to a share of just 8.3% — a fraction of the 30%-plus it once commanded. Doubling from a weak March quarter is a floor being found, not a crown being reclaimed.
Why the March quarter was so weak
Ola's Q4 FY2026 numbers were depressed by a well-documented rough patch: showroom-level registration disputes, service-network strain and intense competition from legacy players with dealer networks many times larger. TVS and Bajaj each now sell more than 43,000 e-scooters a month — roughly what Ola managed in the entire quarter.
What it means for buyers
For shoppers, a steadier Ola is good news regardless of the scoreboard: it means sharper pricing pressure across the market and a healthier used-scooter ecosystem. If you're weighing an S1 against its rivals, start with our Ola scooter brand guide, browse the full e-scooter catalogue, or run the numbers with the EV vs petrol cost calculator.
Sources
Q1 FY2027 and June 2026 Vahan registration figures as reported by Business Standard · SaurEnergy · Goodreturns