Jefferies Bullish on Indian Two-Wheeler Market, Warns of Ola Electric's Declining Share

Jefferies forecasts strong growth for India's two-wheeler market, projecting a 13-15% CAGR for FY25-27. The brokerage expects electric two-wheeler market share to rise from 5.6% to 13% by FY27. However, Jefferies cautions about Ola Electric's market position, noting its share has dropped from 49% in Q1 FY25 to 33% in August due to increased competition. TVS and Bajaj have gained ground with affordable electric models. Jefferies favors M&M, Eicher Motors, and TVS as top picks, citing their strong growth prospects. The report also highlights the gradual adoption of EVs, with electric two-wheelers expected to reach 10% market share by FY27.

 

Source: Jefferies Research Report