Business
Ola E-Scooter Sales Down After Firm Switches To One-Time Full Payment Model: Report
Ola electric scooter
The sales of Ola electric's e-scooter have slumped to 130-200 units per day over the last two weeks after the company switched from the multiple-payment window model to one-time full payment for the vehicle.
The company had moved to the new payment model on 28 May. Earlier, customers could only make partial payments through four separate windows that opened on specific dates.
Ola was selling around 500 scooters per day after switching from the multiple-payment window model, but sales have slumped after that, sources were cited in a Economic Times report.
“The company has also offered employees around Rs 10,000 discount if they are interested in buying the scooter,” a source was quoted in the ET report as saying.
Some customers are getting delivery of their scooters in 48 hours, which, according to some people, is a possible sign of a Ola's shrinking order book, the report said.
Several fire incidents involving e-scooters have been reported in India recently, including an Ola scooter that caught fire in March.
Registrations on the Vahan portal had shown a marginal decline in April, which was the first time the Indian EV two-wheeler industry saw a drop in sales in 10 months, according to data compiled by Elara Capital from the Vahan portal.
In May, the domestic sales of e-scooters were down by over 20 per cent compared with April, registering the second consecutive month-on-month decline in sales.
“Ola was expected to top the charts in May, but Okinawa sold the most number of vehicles, and it is expected that Ola’s sales may slump further,” said the source quoted above.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
