The Bajaj Chetak electric scooter has achieved a significant milestone, surpassing cumulative sales of 3,03,621 units in the Indian market by October 2024. Launched in January 2020, this milestone reflects its growing popularity as one of the top electric two-wheelers in India.
Rapid Growth in Sales
After reaching the 2 lakh sales mark in June 2024, Bajaj added another 1 lakh units in just four months, signaling a remarkable surge in demand. October 2024 alone accounted for 30,644 units, the highest monthly dispatch for the Chetak to date. From April to October 2024, Bajaj dispatched 1,41,885 units—a 160% year-on-year (YoY) growth compared to the same period in FY2024.
The scooter’s early years showed modest sales, but momentum picked up significantly in FY2024, with sales crossing 1,15,702 units—a 219% YoY increase. By November 2023, the Chetak hit its first 1 lakh units, taking nearly four years. However, the next 2 lakh units were achieved within just a year, driven by an expanded retail network, enhanced production capacity, and growing consumer demand.
In the April–October 2024 period, the Bajaj Chetak secured a 16% share of India’s electric two-wheeler (e2W) market, a significant rise from 5.51% during the same period in 2023. It now stands as the No. 2 player among legacy manufacturers, trailing TVS Motor’s iQube but ahead of Ather Energy in both wholesale and retail sales.
Retail figures reveal the Chetak sold 1,07,970 units between April and October 2024, giving it a 16.61% retail market share. While TVS iQube leads with an 18.35% share (1,19,256 units), Ola Electric remains the dominant leader with a 37% share, driven by its 2,44,303 retail units sold.
Driving Factors Behind the Growth
Key factors behind the Chetak’s success include increased production, an expanded dealer network with around 1,000 showrooms nationwide, and an improved production-to-sales ratio that reflects efficient inventory management. These strategies have enabled Bajaj to meet rising consumer demand effectively.
Looking Ahead
As Bajaj Auto continues to invest in its electric mobility ecosystem, the Chetak is well-positioned to maintain its upward trajectory, further consolidating its presence in India’s rapidly growing e2W market. With innovations and expanded reach, the Chetak is not just a nostalgic icon but a strong competitor in India’s transition to electric mobility.
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