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Ola Electric has refuted claims of discrepancies in its February 2025 sales figures, asserting that 90% of reported orders were fully paid. Despite this, VAHAN data revealed only 8,390 registrations against the claimed 25,000 sales, raising regulatory concerns. The company's market share has declined from 35% to 30% as traditional manufacturers like Bajaj Auto and TVS Motors gain ground, underscoring the competitive challenges in the electric two-wheeler market.
In March, electric two-wheeler registrations in India surpassed the 100,000 mark, marking a significant milestone for the industry. Bajaj and TVS Motor continue to lead the market, showcasing their dominance in the growing EV segment. This surge reflects the increasing adoption of electric vehicles among consumers.
Rajiv Bajaj, managing director of Bajaj Auto, announced that the Chetak electric scooter has become the largest selling electric scooter in India, according to December VAHAN registration data. At the CNBC-TV18 India Business Leader Awards 2024, he humorously remarked, “Ola to Ola Hai, Chetak to Shola hai,” while celebrating this achievement, which coincided with his son Rishabh's involvement in the Electric Chetak team.
Nifty and Sensex traded flat on December 6 as the RBI maintained the repo rate at 6.5% for the eleventh consecutive time, while cutting the CRR by 50 basis points to inject Rs 1.16 lakh crore into the system. PSU banks, auto, and FMCG stocks gained, with Bajaj Auto, Axis Bank, Titan Company, BPCL, and ITC leading the Nifty's top gainers. The market showed resilience amid a choppy session, with 2,076 shares advancing against 1,289 declining.
Nifty and Sensex opened flat on December 6 as investors awaited the RBI MPC meeting outcome. While auto and FMCG stocks gained, IT and realty sectors weighed down the indices. The Sensex fell 61 points to 81,704.86, and Nifty dropped 19.90 points to 24,688.50, with a mixed market breadth.
In a volatile session on December 5, the Indian equity market closed higher, with Nifty surpassing 24,700 for the fifth consecutive session, driven by broad-based buying except in the realty sector. The Sensex rose by 809.53 points to 81,765.86, while Nifty gained 240.95 points to close at 24,708.40. Key gainers included TCS, Infosys, and Titan Company, while SBI Life Insurance and Bajaj Auto were among the notable losers, as investors remained cautious ahead of the Reserve Bank of India's policy announcement.
Bajaj Auto has clarified that there has been no price change for 72% of its Freedom motorcycle portfolio since launch, despite a recent brokerage report suggesting otherwise. The company confirmed a Rs 5,000 price cut on the entry-level variant, which represents 13% of sales. As of November, 67,000 units of the Freedom motorcycle have been dispatched to dealers, with inventory levels deemed normal for distribution.
Analysts at SBI warn that under a potential Trump 2.0 administration, the Indian rupee may depreciate by 8-10%, with projections suggesting an average exchange rate of 87-92 against the dollar. This scenario poses significant challenges for Indian markets, particularly affecting companies like Godrej Properties and Bajaj Auto.
Bajaj Auto has reduced prices of its Freedom 125 motorcycle by ₹5,000 for the entry-level variant and ₹10,000 for the mid-level variant, just five months post-launch. This move follows a significant drop in shares, which have corrected over 30% from a peak of ₹12,774, and UBS anticipates further downside to the company's estimates. Despite dispatching 80,000 units to dealers, retail sales stand at only 34,000, raising concerns among analysts, with UBS maintaining a sell recommendation and a price target of ₹7,800.
Bajaj Auto has reduced the price of its Freedom 125 motorcycle by Rs 5,000 for the entry-level variant and Rs 10,000 for the mid-variant, amid concerns over high dealer inventory. Despite dispatching over 80,000 units, actual sales stand at only 34,000, highlighting a significant gap. The company plans to ramp up production to 30,000 units per month in Q3, increasing to 40,000 in Q4.
Bajaj Auto Limited
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