Ola Electric, the country’s largest electric two-wheeler company, has announced the BOSS sale. The company has named this sale as ‘Biggest Ola Season Sale‘ i.e. BOSS. This sale will start from 3rd October i.e. Navratri. The company’s community members will get first access to this sale. Additionally, they will also be given exclusive offers on the Ola S1 range. The special thing is that you will be able to buy an Ola S1 electric scooter for only RS 49,999. Let us tell you that Ola’s market share fell significantly in September.
Ola S1X On Bumper Discount :
Ola has offered a huge discount of RS 35,000 on S1X. Its ex-showroom price starts from RS 84,999. Let us tell you that with the discount, the price of Ola S1X has now become RS 49,999 ex-showroom. However, this offer is valid only till the stock lasts.
Other models in the S1 range are getting a discount of RS 10,000 with additional benefits worth RS 21,000. Additional benefits include an exchange bonus of up to RS 5,000, over 140 MoveOS features worth RS 6,000, eight-year battery warranty worth RS 7,000, and hyper charging credit worth RS 3,000.
Referral Offer:
Apart from these offers, Ola is also giving referral bonuses to customers. The company said customers can get RS 3,000 off per referral and RS 2,000 off on S1 per referral. Interestingly, the referral bonus on S1 is only valid till 2nd October and it is valid for 5 referrals only.
Additionally, top-100 referring community members will get a reward of up to RS 11,11,111. The company’s Top-100 Referring Community Scheme will be applicable from October 2 to October 31, 2024.
- Up to RS 10000 off on entire S1 range
- Additional benefits of RS 21000
- Exchange bonus up to RS 5000
- More than 140 MoveOS features worth RS 6000
- 8 years warranty of RS 7000
- RS 3000 Hyper charging Credits
Ola Sales Report
According to the central government’s vehicle portal, Ola Electric had sold 23,965 electric scooter units in the month of September. This is the second consecutive month that month-on-month sales have declined.
Apart from this, Bajaj Auto sold 18,933 units of its e-Chetak last month, while TVS also registered a monthly growth by selling 17,865 units of its iQube. Both have managed to narrow the gap with Ola Electric in terms of monthly sales.
Ola Market Share Remained at 27% in September
When the figures of electric two-wheelers were revealed in September, they surprised everyone. These figures were worrying for Ola Electric, which till now was the country’s number-1 company in the segment. Actually, Bajaj Auto was still far behind in the electric vehicle race. At the same time, the market share of startups like Ola was increasing rapidly. Before the start of the new financial year in April, Ola’s market share had almost doubled. However, Ola’s sales fell to 27% in September. It was 50% in April. This is also the first time when Ola Electric’s sales remained below 30%.
Ola Electric has dominated India’s electric two-wheeler market for the last three years, but September 2024 is considered a turning point. In fact, for the first time in the last 12 months, Ola’s market share went below 30%. Earlier this had happened in September 2023. By April 2024 the company was dominating everyone. Then its market share had exceeded 50%. However, after reaching its high, it has also seen a continuous decline. Its stake is reduced to less than 30% in September 2024.
Ola Electronic Share Price
Shares of Ola Electric Mobility Limited have fallen in 9 out of the last 11 days. With this the share price went below RS 100 for the first time. The company’s shares fell by about 4% to RS 98.4 in early trading on September 30. This is its lowest level since it was listed on the stock exchange in August. with this fall, Ola shares have fallen by 37.7% so far from their high of RS 157.4.
Meanwhile, Ola electric said last Friday that it will double the number of its service center network to 1,000 by December. This step has been taken under the company Hyperservice Scheme, which aims to promote electric vehicles in the country. we are expanding our network and improving the EV-vehicle experience with on -demand and AI- based service, Ola CEO Bhavish Aggarwal said in a social media post.
The company also recently announced the network partner Programme which aims to further expand the penetration of electric vehicles in Tier-2 and Tier-3 cities. Ola has on-boarded 625 partners so far and from the upcoming festive season working on a plan to connect the first 1,000 Autopartners. About to be launched. However, despite this, HSBC has maintained a buy rating on Ola Electric shares and has given a target price of RS 140.
Currently, Ola Electric shares are trading at RS 99 with a decline of 3.1%, the company’s IPO came at a price of RS 76 per share. Its listing remained flat, but after this its shares increased by a huge amount of almost 100%.
