Ola Electric Share: Lower Units Sold in March 2025; FY25 at 3.44 Lakh, Maintaining a 30% Market Share

India’s leading electric two-wheeler manufacturer, Ola Electric, released its March 2025 business update, outlining monthly sales figures. The company also provided insights into its annual performance, offering a snapshot of its operational momentum amid ongoing challenges.

March 2025 Sales and Annual Performance

Ola Electric registered 23,430 electric two-wheeler units in March 2025, according to the VAHAN portal. The number is slightly lower than February’s 25,000 units and falls well short of the 50,000-unit monthly target necessary for EBITDA breakeven, said CEO Bhavish Aggarwal at an analyst call after the company’s December quarter earnings.

Despite the decline, Ola reported total registrations of 3,44,005 units for FY25, maintaining a 30% market share in the electric two-wheeler segment and retaining its industry leadership.

Update on Registration Backlog

The company addressed the registration backlog issue stemming from its transition to in-house vehicle registration processes in February. This move caused a temporary disruption in daily registration volumes.

“We have nearly cleared the February backlog and expect to complete the remaining February–March registrations in April 2025. To support this, we’re scaling up our registration operations and actively coordinating with all external stakeholders,” Ola said in a filing.

Gen 3 Portfolio Deliveries and Demand

Ola confirmed that deliveries of its Gen 3 product portfolio began in March 2025. The company reported stronger-than-anticipated customer demand, which led to a production ramp-up during the month. It plans to further scale production in April 2025 to accelerate deliveries and enhance customer experience.

The Gen 3 launch is part of Ola’s broader strategy to refresh its product lineup and maintain its dominant position in the electric mobility space.

Ola Electric Share Price Performance

Following the operational update, Ola Electric’s share price opened at ₹52.81 on 1 April 2025, reached an intraday high of ₹54.40, and closed the day at ₹52.75, slightly lower than its previous close of ₹53.05.

While the company’s efforts to resolve delivery and registration issues have been received positively, the stock remains well below its IPO price and all-time high, reflecting ongoing investor caution.

Conclusion

Ola Electric’s March performance highlights both operational challenges and progress. While sales dipped slightly, strong demand for the new Gen 3 range and steps to resolve the registration backlog indicate that the company is working to stabilise operations. The next few months will be crucial in determining whether it can regain momentum and move closer to its breakeven goals.

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