Overview

• VAHAN data show about 96,000 electric two‑wheelers registered in September, down roughly 8–9% from August’s ~105,000.
• TVS Motor retained the top spot with 21,052 units and about a 22% share, extending its six‑month lead.
• Bajaj Auto returned to second place with 17,972 registrations, rising about 52% month on month after August’s supply hit.
• Ather Energy recorded 16,558 registrations to surpass Ola Electric’s 12,223 for the month, reshaping the top‑three order.
• The magnet shortage’s fallout persisted as Ather deferred INR 26.2 crore in PM E‑DRIVE incentives citing China’s export limits, while several smaller OEMs also posted month‑on‑month declines.