Ola Electric Sales Crash: Sales fell 47% in February 2026, company reached lowest level in 4 years
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Ola Electric sales fell 47% to just 3,968 units in February 2026, which is the lowest level in four years. The company which was once the leader of the e-scooter market has now fallen out of the top-5. Amidst falling market share, huge fall in share price and increasing competition, a big challenge has arisen before the company.
Ola Electric
Ola’s troubles are showing no signs of decreasing. The sales of India’s leading electric two-wheeler company Ola Electric have fallen drastically in February 2026, falling to the lowest level in four years. According to data from the government vehicle portal Vahan (VAHAN), the company recorded retail sales of only 3,968 units of electric scooters this month. This figure is about 47 percent less than 7,516 units in January 2026. In February 2022, the company had sold 3,910 units, after which this is the lowest monthly sales.
At one time Ola Electric was the uncrowned king of the electric two-wheeler segment. It had made a peak record of 53,646 units in March 2024 and had been selling 30,000-40,000 units in many months. But now the situation has completely reversed. The company’s market share has declined to only 3.7 percent and it is out of the list of top-5 companies. Greaves Electric Mobility (Ampere brand) overtook Ola by selling 4,725 units and captured the fifth position.
TVS continues to shine!
During this period, the total electric two-wheeler market also shrank by 9 percent to about 1.01 lakh units. TVS Motor Company retained leadership with 29.4 percent share. Bajaj Auto stood second, while Ather Energy recorded strong sales of 20,585 units (19.1 percent share) and Hero MotoCorp recorded strong sales of 12,516 units.
This huge decline in sales had a direct impact on the shares of Ola Electric. On Monday, the company’s shares reached a record low of ₹ 21.21, which is a decline of 16 percent in a day. The stock is down about 86 percent from its peak and the market cap is around ₹ 10,500 crore. Investor confidence has been completely shaken.
Company doing structural reset
The company is currently running the process of ‘structural reset’. There is a plan to reduce the retail store network from 700 to 550 by the end of March. In the third quarter (October-December 2025), revenue fell by 55 percent to ₹470 crore, while net loss stood at ₹487 crore (less than last year). Ola is cutting costs by 50 percent. Apart from scooters, steps are being taken towards diversification by launching a residential battery energy storage system named ‘Shakti’.
What will happen next?
Analysts believe that chronic problems in the service network, increasing competition and lack of consumer trust are the main reasons. However, company founder Bhavish Aggarwal says that this is a temporary phase and in the long run Ola will make a strong comeback. At present, challenges remain and Ola’s path to becoming a leader in the market once again seems difficult.
