Ola Electric slashes sales targets by more than 50%

volkman10 · 6th December 2023, 19:02

India's Ola Electric slashes sales targets ahead of planned IPO -document.

The company's revenue target is $591 million against the previous goal of $1.55 billion, indicating a cut of around 60%, as per the internal document.

The electric two-wheeler company slated to go public, has cut its sales targets till 2025 by over half, and deferred its goal of achieving profits by a year.

A document that shows that the Softbank-backed electric two-wheeler firm, now expects to record 300,000 e-scooter sales in the ongoing fiscal year to March 2024, which is lower by two-thirds, as compared to its initial ambition of 882,000 e-scooter sales.

The company's revenue target is $591 million against the previous goal of $1.55 billion, indicating a cut of around 60%, as per the internal document.

Link:

Aditya · 7th December 2023, 17:08

Ola Electric slashes sales targets by more than 50% - Post moved to a new thread.

lsjey · 7th December 2023, 17:35

Depending on government subsidy, is not a good thing. This is the main reason for reduction in sales numbers. The markets are on an all time high now. I think we will see many IPOs now.

Regards,
Lsjey

hemj · 8th December 2023, 14:06

If this had come 6 months ago, it has value. We already know they are not going to sell 1-2 lakhs per month to Mar 24 now.

6th December 2023, 19:02	#1
volkman10 Distinguished - BHPian Join Date: Dec 2010 Location: -- Posts: 25,759 Thanked: 78,863 Times View My Garage	Ola Electric slashes sales targets by more than 50% India's Ola Electric slashes sales targets ahead of planned IPO -document. The company's revenue target is $591 million against the previous goal of $1.55 billion, indicating a cut of around 60%, as per the internal document. The electric two-wheeler company slated to go public, has cut its sales targets till 2025 by over half, and deferred its goal of achieving profits by a year. A document that shows that the Softbank-backed electric two-wheeler firm, now expects to record 300,000 e-scooter sales in the ongoing fiscal year to March 2024, which is lower by two-thirds, as compared to its initial ambition of 882,000 e-scooter sales. The company's revenue target is $591 million against the previous goal of $1.55 billion, indicating a cut of around 60%, as per the internal document. Link: Last edited by volkman10 : 6th December 2023 at 19:17.
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7th December 2023, 17:08	#2
Aditya Team-BHP Support Join Date: Feb 2004 Location: Mumbai Posts: 20,105 Thanked: 86,679 Times View My Garage	Re: Ola Electric slashes sales targets by more than 50% Ola Electric slashes sales targets by more than 50% - Post moved to a new thread.
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7th December 2023, 17:35	#3
lsjey BHPian Join Date: Mar 2006 Location: Chennai Posts: 449 Thanked: 1,026 Times	Re: Ola Electric slashes sales targets by more than 50% Depending on government subsidy, is not a good thing. This is the main reason for reduction in sales numbers. The markets are on an all time high now. I think we will see many IPOs now. Regards, Lsjey
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8th December 2023, 14:06	#4
hemj Newbie Join Date: Oct 2021 Location: New Delhi Posts: 18 Thanked: 35 Times	Re: Ola Electric slashes sales targets by more than 50% If this had come 6 months ago, it has value. We already know they are not going to sell 1-2 lakhs per month to Mar 24 now.
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