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According to the latest data released by the Federation of Automobile Dealers Associations (FADA), three-wheeler retail sales stood at 13,63,412 units in FY 2026. This represents an 11.70% year-on-year (YoY) growth compared to 12,20,834 units sold in Financial Year 2025.
The segment continued to witness steady demand across both ICE and electric three-wheelers. This is supported by growing last-mile mobility needs, fleet expansion, and rising EV adoption across urban and semi-urban markets.
The FY 2026 market recorded stable growth across key OEMs. Leading players such as Bajaj Auto Ltd, Mahindra & Mahindra Group, and Piaggio Vehicles Pvt Ltd contributed significantly to the overall numbers.
Meanwhile, TVS Motor Company Ltd and Zeniak Innovation India Ltd posted strong growth. It highlights the rapid expansion of the electric 3 wheeler segment. EV focused brands like YC Electric Vehicle and Saera Electric Auto Pvt Ltd reported a decline, indicating rising competition in the segment.
Bajaj Auto Ltd retained its leadership with 4,73,247 units in FY 2026, compared to 4,37,678 units in FY 2025, registering an 8.10% YoY growth.
Mahindra & Mahindra Group reported 1,10,036 units in FY 2026, up from 77,768 units, marking a strong 41.50% YoY growth.
Mahindra Last Mile Mobility Ltd sold 1,09,135 units, up from 76,900, marking an increase of 41.90%.
Mahindra & Mahindra Limited recorded 901 unit sales, compared to 868 units last year, registering a 3.80% YOY rise.
Piaggio Vehicles Pvt Ltd recorded 90,892 units in FY 2026, compared to 89,356 units last year, reflecting a 1.70% YoY growth.
TVS Motor Company Ltd reported 55,488 units in the financial year 2026, more than doubling from 25,882 units. TVS achieved a strong 114.40% YoY growth.
YC Electric Vehicle recorded 36,807 units in FY 2026, down from 44,626 units, reflecting a 17.50% decline.
Atul Auto Ltd registered 32,422 units in FY 2026, compared to 28,372 units, marking a 14.30% YoY rise.
Saera Electric Auto Pvt Ltd reported 22,845 units in FY 2026, down from 28,230 units, reflecting a 19.10% decline.
Dilli Electric Auto Pvt Ltd recorded 21,655 units in FY 2026, compared to 24,216 units, marking a 10.60% decline.
Zeniak Innovation India Ltd. sold 16,055 units in FY 2026, up from 7,997, delivering a strong 100.80% YoY rise.
The Others, including the EV category, recorded 5,03,965 units in FY 2026, compared to 4,56,709 units in FY 2025, marking a 10.30% YoY growth. This category includes several regional and emerging manufacturers contributing steadily to overall market volume.
India’s three-wheeler retail market maintained positive momentum in FY 2026, registering 11.70% YoY growth. Strong performances from TVS Motor and Zeniak Innovation highlight the rapid shift towards electric mobility. On the other hand, Bajaj Auto and Mahindra Group continued to dominate overall volumes. Despite some decline among select EV players, increasing participation from emerging OEMs reflects a highly competitive and evolving three-wheeler market in India.
Disclaimer:
The above numbers do not have figures from TS.
Vehicle Retail Data has been collated as on 02.04.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,463 out of 1,466 RTOs.
Others include OEMs accounting less than 1% Market Share.
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