Electric PV Retail Surges 76% in October 2026 as Tata and Mahindra Lead Volume Growth

India’s electric passenger vehicle sector recorded substantial expansion in October 2026, with total retail sales surging by 76.47 percent year-on-year to reach 37,049 units compared to 20,995 units in the corresponding period of the previous year, according to data released by the Federation of Automobile Dealers Associations (FADA).

This volume growth elevated overall electric passenger vehicle retail penetration to 7.3 percent for the month, representing a sharp increase from 3.5 percent in October 2025, albeit down on the 8.5% recorded in September 2026 as passenger vehicles dipped 14 percent year-on-year.

Tata Motors continued to lead the electric PV segment, registering 14,669 retail units during October 2026 to post a 77.6 percent year-on-year growth. However, domestic competitors are narrowing the gap as competition intensifies across price brackets. Mahindra and Mahindra secured the second position with 8,538 retail units, marking an 85.7 percent year-on-year increase from 4,599 units in October 2025. Meanwhile, JSW MG Motor India maintained its strong market footprint by capturing 5,939 units, up 10.8 percent compared to the previous year.

The broader market data also highlighted the rapid scaling of newer entrants and emerging market participants. VinFast Auto India recorded 2,571 retail units during the month, achieving exponential year-on-year growth over its nascent base from last year. At the same time, Maruti Suzuki India Ltd registered 1,200 units, establishing a firm presence on the monthly EV retail scoreboard as India's largest automotive manufacturer scales its electrified product rollout.