Mahindra Leads India’s E-3W Market in April 2026

India’s electric three-wheeler retail market posted steady growth in April 2026, with total registrations reaching 64,549 units, according to retail data released by the Federation of Automobile Dealers Associations (FADA). The segment recorded a 3.30 per cent year-on-year increase compared to 62,489 units sold in April 2025, while month-on-month sales also rose by 1.58 per cent over March 2026. The data is based on retail figures collected from 1,463 out of 1,466 RTOs as of May 3, 2026, excluding Telangana registrations.

Mahindra Group continued to dominate the electric three-wheeler retail market in April 2026, registering sales of 10,292 units, an 82.71 per cent increase over 5,633 units sold during the same month last year. The company also recorded a 10.32 per cent month-on-month growth compared to March 2026.

Within the group, Mahindra Last Mile Mobility Ltd contributed 10,269 units, while Mahindra & Mahindra Ltd accounted for 23 units.

Bajaj Auto retained the second position in the segment with retail sales of 9,725 units. The company posted a strong 76.53 per cent year-on-year growth along with a 7.46 per cent increase over March 2026.

TVS Motor Company emerged as one of the fastest-growing OEMs among leading players. The company’s retail sales surged to 3,046 units in April 2026 from 1,207 units in April 2025, reflecting a remarkable 152.36 per cent annual growth. Among other established players, YC Electric Vehicle sold 1,932 units during the month but witnessed a 42.60 per cent decline compared to the previous year.

Saera Electric Auto Pvt Ltd recorded retail sales of 1,388 units, down 22.59 per cent year-on-year, while Dilli Electric Auto Pvt Ltd sold 1,327 units, registering a 24.52 per cent annual decline.

Piaggio Vehicles Pvt Ltd maintained relatively stable performance with 1,181 units sold, reflecting a 3.51 per cent increase over April 2025.

Several emerging manufacturers also reported notable growth. Terra Motors India Pvt Ltd retailed 763 units, posting a 33.86 per cent year-on-year increase, while Hooghly Motors Pvt Ltd recorded 716 units with a strong 75.92 per cent growth.

Atul Auto Ltd sold 702 electric three-wheelers during April 2026, registering a 57.05 per cent rise compared to the same month last year.

FADA’s data also showed that electric three-wheelers accounted for 60.4 per cent of the total three-wheeler retail market in April 2026, slightly lower than the 62.7 per cent share recorded in April 2025. However, penetration improved sequentially from 57.9 per cent in March 2026.

The “Others” category continued to remain a major contributor to the market with 28,568 units sold in April 2026, though the segment declined 17.62 per cent year-on-year.

Overall, the April 2026 retail data indicates that organised OEMs such as Mahindra Group, Bajaj Auto and TVS Motor Company are further strengthening their presence in the electric three-wheeler market, while several smaller manufacturers continue to face pressure on volumes.