Ola Electric officially launched its BOSS – Biggest Ola Season Sale campaign on October 3, 2024, aiming to attract customers during the festive season. This initiative marks a significant move for the company, as it introduces enticing offers and price reductions on its electric scooters, particularly the S1 portfolio.
Key Highlights of the BOSS Campaign
- Affordable Pricing: The entry-level Ola S1 X (2kWh) is now available for just ₹49,999, a substantial reduction from its previous price of around ₹75,000. This limited-time offer is designed to boost sales amid increasing competition in the electric vehicle (EV) market.
- Festive Benefits: Customers can enjoy additional benefits worth up to ₹40,000, which include:
- Cash Discounts: Up to ₹25,000 off on the S1 X model and discounts of up to ₹15,000 on other S1 variants.
- Warranty Offers: A complimentary 8-year/80,000 km battery warranty, valued at ₹7,000.
- Finance Options: Up to ₹5,000 off on select credit card EMIs.
- Software Upgrades and Credits: Free MoveOS+ upgrade worth ₹6,000 and Hypercharging credits valued at up to ₹7,000.
Market Context: Ola Electric
This campaign comes at a crucial time for Ola Electric, as the company has recently faced declining sales figures. In September 2024, Ola’s market share dropped to approximately 27%, marking its lowest point in 16 months. This decline is attributed to increased competition from rivals like Bajaj Auto and TVS Motor, which have been gaining market share by introducing new models that closely compete with Ola’s offerings.
Strategic Moves
To counteract these challenges, Ola Electric has also announced plans to expand its sales and service network significantly. The company aims to increase its service outlets to 10,000 by the end of 2025 and train one lakh third-party mechanics to ensure that every mechanic in India is equipped to handle EVs. This initiative aligns with Ola’s broader mission to enhance customer satisfaction and maintain a competitive edge in the rapidly evolving EV market.
Conclusion
The launch of the BOSS campaign reflects Ola Electric’s commitment to making electric vehicles more accessible during the festive season while addressing the challenges posed by competitors. With attractive pricing and comprehensive benefits, this initiative could potentially rejuvenate sales and strengthen Ola’s position in the Indian electric two-wheeler market. As Bhavish Aggarwal, Chairman and MD of Ola Electric, stated, this is “the best time to buy an EV,” encouraging consumers to consider switching from internal combustion engine vehicles to electric alternatives.
