With best-ever monthly retail sales of 83,682 units in November and 11-month sales of 709,000 units, the electric 3-wheeler segment’s share of the overall 3-wheeler market has risen to 60% from 56% while that of CNG-powered 3Ws has fallen to 25% from 29% a year ago.
19 Dec 2025 | 8628 Views | By Ajit Dalvi
The smart growth of India’s electric 3-wheeler industry, which displays the fastest transition from conventional fuels to electric mobility amongst all vehicle segments, continues to eat into the CNG-powered 3W sub-segment which is the second-largest in volume.
Following its highest monthly retail sales of 83,682 units in November, ...
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The smart growth of India’s electric 3-wheeler industry, which displays the fastest transition from conventional fuels to electric mobility amongst all vehicle segments, continues to eat into the CNG-powered 3W sub-segment which is the second-largest in volume.
Following its highest monthly retail sales of 83,682 units in November, the e-3W industry has surpassed the 700,000 milestone for the first time. As per Vahan data, 709,488 e-3Ws were sold in the January-November 2025 period, up 12% YoY (January-November 2024: 631,899 units). Of the total 1.18 million 3Ws across all powertrains (electric, CNG, diesel, LPG and petrol) sold in India (other than Telangana for which Vahan does not provide the retail data), electric 3Ws account for the bulk of them – 60% – clearly establishing their stranglehold over this vehicle segment. Furthermore, it is also the one to register the highest YoY growth (see data table below). The 12% YoY growth in sales has given it an additional 4% market share, increasing from the 56% it had in July 2024.
In comparison, CNG three-wheelers have lost exactly the same level of market share that EVs have gained: 4 percent. The past 11 months have seen 297,602 CNG 3Ws sold, down 9% YoY (January-November 2024: 327,903 units), being delivered to customers. This translates into 30,301 fewer sales YoY. Among the impediments to better adoption of CNG three-wheelers have been regular price hikes of this fuel which increase the total cost of vehicle ownership, which is critical in this vehicle category which caters to both passenger and cargo transport. As of today, CNG costs Rs 78 per kg in Mumbai, Rs 76.59 in Delhi, Rs 90 in Kolkata and Rs 90.50 in Chennai. Diesel costs Rs 90 per litre in Mumbai – a difference of Rs 12.
In a highly price- and value-conscious market like India, which have scores of individual-owned 3Ws and a growing number of last-mile mobility fleet operators, the e-3W value proposition is hitting home. When compared to electric 3Ws, CNG loses out on the zero-emission wallet-friendly alternative. EVs offer a much lower running cost per kilometre of around Rs 1.40 per kilometre with a 90-120km range on a full charge. Meanwhile, a CNG 3W has a running cost of around Rs 1.40 per kilometre, which works out to a 140% increase compared to an e-3W.
Meanwhile, diesel-engined 3W sales, at 139,167 units, have risen by 10% YoY. This sees the diesel 3W share improve marginally to 12% from 11% a year ago. LPG-fuelled 3W sales (30,889 units) were up 2% YoY but the 3% market share remains unchanged. And only 3,821 petrol-engined 3Ws were sold last month, down 64% YoY, which is understandable given the wallet-busting cost of this fossil fuel.
MAHINDRA AND BAJAJ AUTO LEAD THE CHARGE IN E-3W MARKET
The electric 3W segment has the largest number of players – over 600 – compared to the two-wheeler, passenger vehicle or commercial vehicle segments in India. This vehicle segment’s robust performance this year is mainly driven by four legacy OEMs – Mahindra & Mahindra, Bajaj Auto, TVS Motor Co and Piaggio Vehicles – which will ensure that India remains the world’s No. 1 e-3W market for the third year in a row, outselling China.
Of these four OEMs, Mahindra & Mahindra, Bajaj Auto and TVS will achieve their highest-ever e-3W annual sales at the end of December. While M&M is well set to cross the 100,000 milestone for the first time in CY2025, Bajaj Auto, which has recently diversified into the e-rickshaw segment, is expected to close the year with sales of 82,000 to 85,000 units. Meanwhile, TVS, the most recent legacy player to enter this market, should hit the 25,000-unit mark.