Bajaj Chetak narrows sales gap to TVS iQube in FY2025

Both Bajaj and TVS have been performing strongly in the EV two-wheeler space. TVS has managed to stay ahead, but in FY25, Bajaj managed to narrow the gap more than ever. TVS sold around 2.73 lakh iQubes, which constitutes a lead of 13,000 units over the Bajaj Chetak’s 2.60 lakh units (approx). Bajaj has hugely reduced the gap recently on the TVS iQube because the earlier difference was around 74,000 units, with the iQube in the lead.

1. Bajaj Chetak trails the TVS iQube by just 13,000 units
2. Bajaj manages to reduce sales disparity from the earlier 74,000

iQube and Chetak hit best-ever fiscal year sales

Both the EVs have recorded sales of over 2.5 lakh units

Both TVS and Bajaj have delivered stellar market performance in FY2025, each registering over 2.5 lakh-unit sales for the first time in a fiscal year. While TVS’ sales of around 2.73 lakh iQubes is a 44 percent YoY increase, Bajaj Auto sold approximately 2.60 lakh Chetaks, which marked 125 percent YoY growth. In terms of additional units sold in FY2025 compared to FY2024, TVS sold around 83,000 iQubes versus Bajaj Auto’s 1.44 lakh units (approx).

As a result, the sales gap between the TVS iQube and the Bajaj chetak in FY2025 was just 13,000 units, hugely reduced from the considerable difference of around 74,000 units the two e-scooters had in FY2024.

Both companies registered their best-ever sales in the festive month of October 2024 – Approx 29,000 TVS iQubes and around 30,000 Bajaj Chetaks. It was an evenly fought battle as the monthly sales stats indicate. In FY2025, the TVS iQube outsold the Bajaj Chetak over six months (May, July, August, September 2024, January and February 2025) while Chetak fared better than the iQube in the other six months of FY2025.

In an expanding marketplace which is witnessing a number of new products being introduced, what ticks the EV sales boxes for both TVS and Bajaj is their strong brand image, well-developed and innovative in-house R&D capability and reliable after sales support.

Also see: Honda Activa e review: promising EV, just not today