Ola Electric’s October 7, 2024 sell-off came amid reports of mounting customer complaints and a sharp drop in its electric two-wheeler market share. TechCrunch reported that the shares fell as much as 9.1% to ₹89.14 during that session. That is a historical price, not a current quote. Later company statements and registration data provide additional context, but they use different periods and measures and do not establish the company’s current complaint total or stock price.
What happened to Ola Electric’s stock in October 2024?
On October 7, 2024, Ola Electric shares fell as much as 9.1% to ₹89.14, according to TechCrunch’s report that day. The article linked the decline to mounting customer-service concerns and a loss of electric two-wheeler market share, against rising competition from Bajaj Auto and TVS Motor. The ₹89.14 figure describes the low reported during that session; it should not be read as the share price today.
TechCrunch also said the shares had previously reached ₹157. That is a historical comparison from the same 2024 report, not a current valuation benchmark.
How many complaints were reported, and what did the service concerns involve?
TechCrunch attributed a figure of more than 80,000 customer complaints per month to Mint in 2024. The figure is dated media reporting; it is not a verified current monthly total, and the available information does not establish how many complaints were unresolved.
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The 2024 TechCrunch article also described service-center visits by HSBC analysts. In a note quoted by TechCrunch, the analysts wrote: “Most service centers appeared overwhelmed by service requests and were struggling to provide adequate service quality (as expected from an Auto OEM in India).” The report also described concerns about service capacity, skilled staff, testing equipment and product issues. These are reported observations and analyst commentary, not a regulator’s finding or a current independent audit of Ola’s service network.
How much market share did Ola Electric lose?
TechCrunch reported that Ola Electric’s share of India’s electric two-wheeler market fell from about 49% in the quarter ended June 2024 to 27% at the end of September 2024, citing figures published by the Indian government. It also reported that TVS and Bajaj had each grown to more than 20% of the EV market at that time.
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Those figures describe the 2024 periods and market-share framing reported at the time. They should not be used as October 2026 market shares or compared directly with later figures unless the period, metric and denominator match.
What later registration figures show—and what they do not
A Flash Finance Reports Desk report updated October 7, 2026, citing VAHAN and India’s Ministry of Road Transport & Highways, listed 13,452 Ola Electric registrations in September 2026. The report said that was down 3.0% year over year and 3.6% month over month. It separately put Ola’s calendar-2026 year-to-date share at 0.6% of two-wheeler registrations. The report also displayed 0.5% as the company’s share of all registrations—a different denominator, not another two-wheeler market-share figure.
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These are registration figures in a secondary compilation, not a direct VAHAN page. They are not interchangeable with bookings, deliveries or the 2024 market-share figures.
Company-reported recovery in late 2025
In a January 1, 2026 release, Ola Electric said its VAHAN-based market share rose to 9.3% in December 2025 from 7.2% in November 2025, and reported 9,020 December registrations. The company attributed the improvement to its Hyperservice effort and described a 250-member rapid-response team and a direct-to-consumer genuine-parts initiative. These are company claims, not an independent assessment of service quality or proof that the 2024 complaint trend had been resolved.
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The December 2025 company-reported share and the 2026 secondary report’s year-to-date figure cover different periods. Their reported bases and denominators should be checked before treating them as a continuous market-share trend.
Why bookings, deliveries and registrations can differ
In an FY26 shareholder-letter excerpt, Ola said NSE and SEBI had sought information about a variance between registrations shown on VAHAN and a press announcement. The company’s explanation was that the announcement referred to bookings, while revenue recognition followed delivery after registration. That is Ola’s explanation; it does not independently resolve the variance. The distinction matters because bookings, deliveries and vehicle registrations measure different stages and should not be substituted for one another.
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What investors should know about the October 2026 rights-issue update
Ola Electric’s investor-relations materials list a board outcome concerning a rights issue and record date dated October 7, 2026, along with a resolution on issue terms from that date. The materials also list BSE and NSE in-principle approvals dated October 6, 2026. The page index alone does not establish the final offer terms. Investors assessing the issue should use the filed Letter of Offer and other live exchange filings to confirm the price, entitlement ratio, record date and timetable.
How to read the figures without mixing unlike measures
- Keep the period attached: the 2024 market-share figures refer to June and September 2024; the company’s later share figures refer to November and December 2025; the registration compilation covers September and year-to-date 2026.
- Check the metric: complaints, bookings, deliveries, registrations and market share answer different questions.
- Check the denominator: a share of electric two-wheelers is not the same as a share of all vehicle registrations.
- Check who reported it: distinguish media-attributed figures, a secondary registration-data compilation and Ola’s own statements.
- Do not infer a current service trend from the old complaint figure: the more-than-80,000 monthly number is attributed reporting from 2024, not a current company or regulator total.
The available figures do not establish Ola Electric’s exact share price at the October 8, 2026 timestamp or an independently verified current monthly complaint count. They support a dated account of the 2024 sell-off and later, differently measured indicators—not a conclusion about today’s valuation or present service quality.
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