Bajaj EV penetration hits 23.1%, leads legacy OEMs as petrol sales stay flat
June retail data shows Bajaj's EV share at 23.1% (43,176 units), highest among legacy makers, offsetting a mere 2.1% rise in its petrol portfolio to 143,520 units. TVS trails at 13.1%, Hero 4.7%, Honda 0.18%. Overall two-wheeler market grew 21% to 1.81 million units.
What happened
Bajaj Auto · June two-wheeler retail data shows Bajaj's EV penetration hit 23.1%, highest among legacy OEMs, offsetting flat petrol sales, while Hero, Honda
Key facts
- petrol two-wheeler registrations +16.7% YoY June
- overall two-wheeler market +21%
- Bajaj petrol portfolio +2.1% to 143,520 units
- Bajaj EV 43,176 units, 23.1% penetration
- TVS EV penetration 13.1%
- Hero EV 4.7%
- Honda EV 0.18%
- total market 1.81 million units
Why this matters
The widening EV penetration gap (Bajaj 23.1% vs Honda 0.18%) exposes laggards as potential partnership or acquisition targets for EV powertrain, battery, and charging capabilities.
What to watch
- Monthly VAHAN EV penetration data for Bajaj vs TVS/Hero
- FAME/state EV subsidy policy changes
- Battery cell pricing and localization announcements
- Petrol two-wheeler volume trend (currently flat +2.1%)
- New EV model launches from Honda and rural-market EV demand signals
- Bajaj expands Chetak dealer touchpoints and financing schemes to defend penetration lead
- TVS/Hero announce new EV variants or price actions within 1-2 quarters
- Honda accelerates EV entry to avoid being locked out (currently 0.18%)
- Component and battery supply chain scaling to sustain 40k+ monthly EV units