FADA: Electric 2-wheeler market drops 18.70% in November 2025 sales

The electric two-wheeler (E2W) market recorded a sharp decline in November 2025, with the latest retail data from the Federation of Automobile Dealers Associations (FADA) reflecting an 18.70 per cent month-on-month decrease in total volumes. Total E2W retail dispatches fell to 1,16,982 units, down from 1,43,887 units in October 2025, reflecting a subdued month for most major OEMs despite festive-season momentum carrying into early November.

Year-on-year performance also remained marginally low, with volumes dipping 2.51 per cent compared to the 1,19,998 units sold in November 2024. While the market slowed considerably at large, individual players recorded varying sales trajectories.

TVS Motor Company emerges as the only major gainer in a shrinking market

TVS Motor Company retained its upwards momentum and topped the charts with 30,347 units in November 2025, becoming the month’s highest-selling E2W manufacturer. It was also the only legacy brand to record a positive MoM growth, inching up by 2.82 per cent over October’s 29,515 units. The company further registered an 11.02 per cent YoY growth, reinforcing its market presence with its expanding iQube, X, and Orbiter lineup.

Bajaj Auto slips to second as volumes fall

Bajaj Auto ceded the top position after retailing 25,565 units in November, down 18.18 per cent from the previous month and 3.23 per cent lower than its November 2024 tally. Its Chetak portfolio continues to drive demand in large volumes, but the slowdown suggests overall market pressures are catching up with the brand after months of strong momentum.

Ather Energy retains third; Ola Electric drops further

Ather Energy maintained its No. 3 spot with volumes reaching 20,349 units in November 2025, although the Bengaluru-based EV maker saw a steep 27.59 per cent MoM decline. Its YoY performance was significantly stronger, up 56.98 per cent from 12,963 units in the same month last year.

Ola Electric took the biggest hit, dropping to fifth place for the month. The company registered just 8,402 units in retail sales, down 47.61 per cent from October and a staggering 71.35 per cent lower YoY. The decline continues a downward trend that began after Q1 FY26, fuelled by intensifying competition and weakening demand.

Hero MotoCorp moves up to fourth with strong YoY growth

Hero MotoCorp climbed into the top four after retailing 12,213 units, clinching the seat from Ola. Although its numbers dropped by 23.44 per cent MoM, the company recorded a 66.12 per cent YoY growth, driven by the VIDA lineup’s wider availability.

Smaller OEMs show mixed performance

Greaves Electric Mobility posted 5,764 units, marking a 24.45 per cent MoM decline but a positive 28.92 per cent YoY improvement over November 2024.

BGauss recorded 2,566 units, down 12.48 per cent MoM, while River Mobility continued its upward trajectory with 1,800 units and a notable 650 per cent YoY jump, reflecting scaling production and deliveries of the Indie scooter. Kinetic Green also saw healthy YoY growth of over 22 per cent with 1,340 units.

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