India's Electric PV Market Sees 44% Annual Surge in February 2026; Monthly Sales Dip Sharply

India's electric passenger vehicle (EV) segment continued its structural growth trajectory in February 2026, with total retail volumes reaching 13,733 units — a robust 44.48% jump compared to 9,505 units sold in February 2025, according to data released by the Federation of Automobile Dealers Associations (FADA). However, on a month-on-month basis, sales contracted sharply by 25.65% from the 18,470 units recorded in January 2026, reflecting typical post-festive season softness.

Electric vehicles' share of the total passenger vehicle market stood at 3.5% in February 2026, marginally lower than the 3.6% in January but meaningfully higher than the 3.0% recorded in February 2025. The consistent improvement in penetration underscores a gradual but steady shift in consumer preference towards electric mobility in India.

Tata Motors Passenger Vehicles Ltd retained its position as the undisputed market leader, selling 5,568 units in February 2026 — a strong 38.51% year-on-year increase from 4,020 units in February 2025. However, the automaker witnessed a steep 30.46% month-on-month decline from January's 8,007 units.

Mahindra & Mahindra emerged as the most striking gainer on a year-on-year basis, posting a staggering 473.43% jump — from a mere 508 units in February 2025 to 2,913 units in February 2026. The surge is largely attributed to the successful ramp-up of its BE 6 and XEV 9e electric SUVs. On a monthly basis, however, volumes were down 20.58% from January's 3,668 units.

JSW MG Motor India secured second place with 3,312 units, though down 29.58% month-on-month and 5.10% year-on-year. Kia India stood out with the most dramatic percentage leap among established players — a 1,240.91% year-on-year surge from just 22 units in February 2025 to 295 units in February 2026.

Hyundai Motor India saw one of the sharpest annual declines, with volumes plunging 60.77% from 775 units in February 2025 to just 304 units. BYD India was a rare bright spot, posting a 32.47% month-on-month increase — from 231 units in January to 306 units in February — alongside a 10.07% year-on-year gain.