Electric Truck & LCV Sales March 2026: Tata Motors Leads With 45.6% Share
Every electric goods vehicle registered in India in March 2026, brand by brand: volumes, market share inside the segment, month-on-month and year-on-year change, and who gained or lost share.
How March went
India registered 1,950 electric goods vehicles in March 2026, +177.0% on March 2025 and +29.7% on February.
Across the 3 completed months of 2026 to March, 5,145 electric goods vehicles have been registered, +183.9% on the same months of 2025.
Monthly electric goods vehicle registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
Electric Truck & LCV market share, March 2026
Tata Motors led the month with 890 registrations — 45.6% of the electric goods vehicle market — ahead of Euler Motors on 485 (24.9%), a gap of 405 units. Tata Motors also led February.
Euler Motors has gained the most share against March 2025, +20.47pp to 24.9%; Mahindra Last Mile has lost the most, −10.59pp to 13.8%.
The top three hold 84.4% of the segment; 20 manufacturers registered at least one electric goods vehicle.
Top 10 electric goods vehicle makers, March 2026
Electric goods vehicle registrations only — every other vehicle type these companies make is excluded.
Share is of every electric goods vehicle registered in the month. MoM and YoY compare each maker's own volume; the last column is its change in share of the segment.
| # | Manufacturer | Mar 2026 | Share | MoM | YoY | Share vs Mar 2025 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 890 | 45.6% | +41.0% | +188.0% | +1.75pp |
| 2 | Euler Motors | 485 | 24.9% | +61.7% | — | +20.47pp |
| 3 | Mahindra Last Mile | 270 | 13.8% | +16.9% | +57.0% | −10.59pp |
| 4 | Switch Mobility | 96 | 4.9% | +21.5% | +113.3% | −1.47pp |
| 5 | Tivolt Electric Vehicles | 86 | 4.4% | +26.5% | — | +4.13pp |
| 6 | VECV (Eicher) | 38 | 1.9% | −5.0% | +850.0% | +1.38pp |
| 7 | Ipl Tech Electric | 23 | 1.2% | +27.8% | +91.7% | −0.53pp |
| 8 | Energy In Motion | 14 | 0.7% | −12.5% | — | +0.72pp |
| 9 | Sany Heavy Industry India | 10 | 0.5% | −56.5% | — | +0.51pp |
| 10 | Ashok Leyland | 6 | 0.3% | −40.0% | +200.0% | +0.02pp |
| 11 | Others | 6 | 0.3% | +20.0% | +50.0% | −0.26pp |
| 12 | Qucev Technologies | 6 | 0.3% | −57.1% | +20.0% | −0.40pp |
| 13 | Omega Seiki | 5 | 0.3% | +400.0% | — | +0.26pp |
| 14 | Mahindra | 3 | 0.2% | −50.0% | −62.5% | −0.98pp |
| 15 | Pinnacle Mobility Solutions | 3 | 0.2% | +50.0% | −70.0% | −1.27pp |
| All others (5 makers) | 9 | 0.5% |
Exact: Vahan's maker x month table filtered to battery-electric fuels (PURE EV, ELECTRIC(BOV)) and the segment's vehicle classes — not a company total multiplied by anything.
Who is gaining
Monthly share of the electric goods vehicle market for the six largest makers this month, over the last 15 completed months.
Electric Truck & LCV market share by month
Share of the segment each month, in per cent.
Market share, 2026 to March
The same table over 2026 to March, set against the same months of 2025.
| # | Manufacturer | Units | Share | vs 2025 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 2,202 | 42.80% | −6.98pp | +144.1% |
| 2 | Euler Motors | 1,132 | 22.00% | +18.47pp | — |
| 3 | Mahindra Last Mile | 755 | 14.67% | −8.61pp | +78.9% |
| 4 | Switch Mobility | 268 | 5.21% | −1.69pp | +114.4% |
| 5 | Tivolt Electric Vehicles | 211 | 4.10% | +3.38pp | — |
| 6 | VECV (Eicher) | 139 | 2.70% | +2.26pp | — |
| 7 | Energy In Motion | 83 | 1.61% | +1.61pp | — |
| 8 | Sany Heavy Industry India | 75 | 1.46% | +1.46pp | — |
| 9 | Ipl Tech Electric | 59 | 1.15% | −0.67pp | +78.8% |
| 10 | Jupiter Electric Mobility | 39 | 0.76% | +0.76pp | — |
| 11 | Blue Energy Motors | 33 | 0.64% | +0.64pp | — |
| 12 | Qucev Technologies | 23 | 0.45% | +0.01pp | +187.5% |
| 13 | Propel Industries | 20 | 0.39% | −1.21pp | −31.0% |
| 14 | Ashok Leyland | 16 | 0.31% | +0.04pp | +220.0% |
| 15 | Mahindra | 13 | 0.25% | −0.85pp | −35.0% |
Frequently asked questions
How many electric goods vehicles were sold in India in March 2026?
Which company sold the most electric goods vehicles in March 2026?
What is the electric goods vehicle market share of each brand?
How are these numbers measured?
Electric Truck & LCV sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
