The law of averages is finally catching up with Ola. Poor consumer sentiment driven sales degrowth & top management exits has market the beginning of Olas southward journey. Poor customer service and the new one-time full payment rule for its vehicle purchases, has lead to Ola taking the 4th Spot at a sales 5869 scooters in June, from an all time high of 26,817 units by the end of April 2022 according to data from VAHAN portal.
Earlier, customers could make part payments through four separate windows that opened on specific dates. However, Ola Electric moved to the new full payment model on May 28 and the absence of flexi payments too has contributed to the EV maker losing market share.
Also as the overall EV industry registered a 935 per cent growth with sales of 42,172 units in June 2022 as compared to 4073 units in June 2021, Ola has been marked 32 top level executives exits since 2020. "This is the time when the Indian EV industry is just beginning to look good. It its highly unfortunate that for a brand like Ola to have so many top level execs leaving the organization and the sales slowing down, clearly showing a lack of focus in the organization."
Sustenance is the most difficult part of a company's life cycle journey. Growth is fine but for managing growth values and ethics, overall business culture comes into play as it empower your key people and ensure they do the business responsibly. How Ola manages to straddle between these challenges needs to seen" said the CEO of a leading two wheeler to three wheeler EV manufacturer.
Okinawa, Ampere, and Hero Electric have overtaken the company as Ola Electric was the top EV player in the country in April and since then, it has seen its position sliding continuously.
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