16,691 electric scooters sold: Bajaj Chetak achieves 2 lakh EV sales milestone

The Bajaj Chetak electric scooter on Monday announced that the company has crossed the 2 lakh-unit sales mark, with 16,691 units sold in June 2024, making it the company’s biggest monthly sales. 

Demand didn't really take off until FY2024, despite poor sales up to March 2023. The COVID-19 pandemic was one of the reasons for this slowdown. The globe and the automobile industry came to a complete stop two months before the Chetak was introduced. 

Initially, the scooter was only available in Pune and Bengaluru and was offered through KTM showrooms. 

As a result, the company recorded very little sales as expected. Only 1,587 units were sold in the first fifteen months. However, Chetak sales numbers increased to 31,485 units in the previous fiscal year, despite FY2022 seeing total sales of 8,187 units.

Bajaj Auto completely redesigned the Chetak lineup with the introduction of two new versions including the entry-level 2901 (Rs 95,998) and the mid-tier Urbane (Rs 1.23 lakh) in addition to the updated range-topping Premium model (Rs 1.47 lakh).

In terms of retail, Ola Electric continues to control the market by a wide margin despite not being listed among SIAM member businesses.

According to SIAM wholesales data, Bajaj Chetak sold 1,15,627 units in FY2024 taking a lead by 7,733 than Ather Energy (1,07,894 units). Meanwhile, the company fell short by 74,269 sales to overcome TVS Motor Co (1,89,896 units). Sales of 40,854 Chetaks during the first quarter of FY2025 have been good for Bajaj Auto which shows an increase of 96% year over year (April–June 2023: 20,834 units). The present difference with the TVS iQube (Q1 FY2025: 49,164 units) is just 8,310 units.