Retail sales of electric two-wheelers in India have registered their best-ever monthly numbers in October 2025. As per the latest sales data on the Vahan portal as of 7am on November 1, 2025, 1,43,713 two-wheelers were delivered to customers last month, translating into over 4,635 units sold every day.
October 2025’s record sales represent a 2 percent year-on-year (YoY) growth over 1,40,225 units in October 2024. The previous monthly best numbers came in March 2024 (1,40,350 units) and October 2024.
What also lit up sales was the Diwali festival on October 20, which turned out to be a demand accelerator for the top e-2W manufacturers. Importantly, what makes October 2025 stand out from the other two big-sales months is that it came after GST 2.0 implementation, which has helped reduce prices of IC engine two-wheelers, made them more affordable and also shrunk the gap between them and electric two-wheelers. Nevertheless, last month’s stellar market performance proves that the e-2W industry has little to fear about sales being eaten into by its fossil-fuelled counterparts.
As is customary, combined sales of the top six OEMs (Bajaj Auto, TVS Motor, Ather Energy, Hero MotoCorp, Ola Electric and Greaves Electric Mobility), at 1,28,310 units, accounted for 89 percent of the total market.
Bajaj regains top spot, Ola slips to fourth
Bajaj: 31,168 units
The big news here is that Bajaj Auto has regained the number one position it lost to TVS Motor in April this year. Having been in the lead halfway into the month, Bajaj maintained its steady pace of sales in the second half. October saw Bajaj sell 31,168 units to ride ahead of its Chennai-based rival by 1,684 units.
This marks a 10 percent YoY increase (October 2024: 28,442 units) and gives it a market-leading share of 22 percent. Bajaj Auto, which had last topped the monthly e-2W sales in February (21,570 units) and March (35,214 units), had been in the No. 2 slot right since April and even dropped to No. 5 in July due to supply constraints. Bajaj Auto’s strong October 2025 sales are its second-best monthly sales after March 2025.
TVS: 29,484 units
TVS Motor Co, which has topped the e-2W market for six months in a row from April 2025, sold 29,484 units last month, down 3 percent YoY (October 2024: 30,240 units) for a 21 percent market share. TVS’ slower sales in October can be attributed to iQube production constraints – speaking to analysts recently after announcing the H1 FY2026 results, the company management said “there has been a shortage of production and supplies into the market, primarily because of availability of the (rare earth) magnets.” Once this issue is resolved, expect TVS Motor to bounce back with vigour.
TVS, whose main growth driver till now has been the iQube, recently launched the Orbiter at Rs 99,900 (ex-showroom Bengaluru). This prices the Orbiter — which has a 3.1 kWh battery pack — slightly lower than the base iQube 2.2. Orbiter sales have commenced in Karnataka and the company is now expanding its latest EV offering to Maharashtra as well.
Ather Energy: 28,061 units
Another October news-making OEM is Ather Energy which is on a roll this year. Having begun CY2025 on a strong note, sales have risen month on month and October 2025 (28,061 units, up 73 percent YoY) is its best month yet, which gives the startup a best-ever market share of nearly 20 percent.
October 2025 beats its previous best (August 2025: 18,105 units) and marks the first time that the Bengaluru-based startup has raced past both 20,000 and 25,000 retail sales in a single month. Importantly, it is just 1,423 units behind TVS and 3,107 units behind Bajaj Auto. This sets the stage for Ather to perhaps take the fight to Bajaj and TVS someday in the future when its cost-effective EL platform comes out. The Rizta remains Ather’s key growth driver and currently accounts for the bulk of its sales.
Ola Electric: 16,034 units
Ola Electric, which was the market leader not very long ago, is ranked fourth in the Top 10 listing and narrowly missed being fifth. In October 2025, as per Vahan data, Ola delivered 16,034 e-2Ws comprising both e-scooters and e-motorcycles – just 100 units more than Hero MotoCorp’s Vida. Ola’s October 2025 sales are down 62 percent YoY (October 2024: 41,843 units).
Vida (Hero): 15,934 units
Vida continues to grow from strength to strength with robust demand for its new cost-effective VX2 model. Last month, the world’s largest two-wheeler manufacturer registered its best-ever electric scooter monthly sales – 15,934 units – and highest market share yet – 11 percent. The October 2025 sales are a 117 percent YoY increase (October 2024: 7,355 units) and beats the previous monthly best of 13,380 units in August 2025.
This is the fourth month in a row that the company has surpassed the 10,000-unit monthly sales mark since it entered the electric two-wheeler industry in October 2022. What’s more, it is set to achieve the 1 lakh-unit annual sales milestone for the first time in 2025.
Greaves: 7,629 units
Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, which markets the Ampere brand of e-scooters, is sixth on the OEM ranking list with a stellar performance – 7,629 units. This marks strong 91 percent YoY growth (October 2024: 3,990 units) and is the best monthly retail sales total for GEM which has a 5 percent e-2W share in October. GEM and Ampere have three key e-scooter brands: Nexus (EX and ST), Magnus (Neo and EX), and Reo (80 and Li Plus).
Another startup which is now a top 10 regular is the Bengaluru-based River Mobility, which has a single product – the River Indie. In October, the company delivered 1,601 units to customers.
With inputs from DINSHAW MAGOL
Azaman Chothia
Vishal Venugopal
