Piaggio Sales March 2026: 12,396 Units, +24.5% YoY
Full Vahan registration report for Piaggio in March 2026 — total volume, year-on-year and month-on-month change, where it ranks against every other manufacturer, and the segment and fuel mix behind the number.
Piaggio in March 2026
Piaggio registered 12,396 vehicles in India in March 2026. Volume grew strongly 24.5% against March 2025 and was broadly flat (+0.2%) against February. Its best month on record remains October 2025 at 14,339.
Of those, 8,986 were three-wheelers (72.5% of the total), +20.9% on March 2025. That figure is exact: it is counted with Vahan's own vehicle-class filter rather than worked out from the company total.
That put Piaggio 16th among every manufacturer registering vehicles in India in March 2026, behind Ashok Leyland on 20,472 and ahead of Mahindra Last Mile on 11,972.
Measured against every vehicle registered in India that month — all segments, all fuels — that is 0.4% of the market, −0.01pp against March 2025.
Across 2026 to date — the 3 months of the year that have closed — the company has registered 36,857 vehicles, +19.4% on the same months of 2025.
Piaggio monthly registrations
Every calendar year on record, month by month. The dashed end of the current year is the month so far.
What Piaggio sells
72.4% of everything Piaggio has registered in 2026 is in three-wheelers, and the company holds 7.3% of that segment nationally. Two-wheelers is next at 27.4%.
This split is the calendar year to date and cannot be cut to a single month: our Vahan data holds a manufacturer's volume by month, and its volume by vehicle class, but not the two together. Multiplying them would be a guess, so the table stays on the axis where the number is exact.
Piaggio by segment, 2026
Calendar year to date — exact, but with no month axis.
| Segment | 2026 units | Share of company | Share of segment |
|---|---|---|---|
| Three-Wheelers | 87,392 | 72.4% | 7.3% |
| Two-Wheelers | 33,059 | 27.4% | 0.2% |
| Other | 221 | 0.2% | 0.1% |
| Taxis & Cabs | 11 | 0.0% | 0.0% |
| Goods Carriers | 10 | 0.0% | 0.0% |
"Share of segment" is this company against every other manufacturer in the same segment, over the same months.
Fuel mix
10.5% of Piaggio's 2026 registrations are battery electric — 12,635 vehicles, against 12.1% in 2025.
Fuel, like segment, is published against the manufacturer for the whole year rather than by month, so these shares are 2026 to date. Hybrids are counted separately from battery electrics.
| Fuel | 2026 units | Share | vs 2025 |
|---|---|---|---|
| Petrol | 33,076 | 27.4% | −0.14pp |
| Diesel | 65,754 | 54.5% | +5.51pp |
| CNG / LPG | 9,228 | 7.6% | −3.73pp |
| Electric | 12,635 | 10.5% | −1.63pp |
Every manufacturer, March 2026
Ranked on total registrations across every vehicle type, which is the finest manufacturer split our Vahan data holds with a month axis. Two-wheeler makers therefore sit above carmakers selling far more value — this is a count of vehicles, not of revenue.
| # | Manufacturer | Mar 2026 | Share of market |
|---|---|---|---|
| 1 | Hero MotoCorp | 5,52,971 | 19.6% |
| 2 | Honda 2W (HMSI) | 4,93,430 | 17.5% |
| 3 | TVS Motor | 3,94,870 | 14.0% |
| 4 | Bajaj Auto | 2,69,788 | 9.6% |
| 5 | Maruti Suzuki | 1,85,361 | 6.6% |
| 6 | Mahindra & Mahindra | 1,31,081 | 4.6% |
| 7 | Tata Motors | 1,09,005 | 3.9% |
| 8 | Suzuki 2W | 1,02,489 | 3.6% |
| 9 | Royal Enfield | 1,01,453 | 3.6% |
| 10 | Yamaha India | 67,649 | 2.4% |
| 14 | Kia India | 30,414 | 1.1% |
| 15 | Ashok Leyland | 20,472 | 0.7% |
| 16 | Piaggio | 12,396 | 0.4% |
| 17 | Mahindra Last Mile | 11,972 | 0.4% |
| 18 | Others | 11,825 | 0.4% |
Piaggio month by month
The last 15 months on record. The year-on-year column compares each month against the same month a year earlier; the running month is left without one.
| Month | Registrations | YoY |
|---|---|---|
| October 2026 (live) | 8,464 | — |
| September 2026 | 13,324 | +49.1% |
| August 2026 | 12,557 | +25.4% |
| July 2026 | 13,911 | +38.7% |
| June 2026 | 12,699 | +37.6% |
| May 2026 | 11,266 | +24.3% |
| April 2026 | 11,615 | +23.3% |
| March 2026 | 12,396 | +24.5% |
| February 2026 | 12,370 | +29.2% |
| January 2026 | 12,091 | +6.7% |
| December 2025 | 10,511 | +14.4% |
| November 2025 | 13,119 | +3.0% |
| October 2025 | 14,339 | +10.9% |
| September 2025 | 8,938 | −17.7% |
| August 2025 | 10,011 | −6.1% |
Frequently asked questions
How many vehicles did Piaggio sell in March 2026?
Where does Piaggio rank in March 2026?
What does Piaggio mostly sell?
How many of Piaggio's vehicles are electric?
Are these retail sales or factory dispatches?
Piaggio sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken daily 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.
