Three-Wheeler Sales H2 FY 2025-26: Bajaj Auto Leads, 7,67,136 Units, Up 18.6% YoY
Every three-wheeler registered in India over H2 FY 2025-26 — October 2025 to March 2026. The second half of the financial year, October to March. Month-by-month volumes, the manufacturer leaderboard, how the segment moved against the rest of the market, and the same window in every earlier year on record.
Three-Wheeler sales month by month, H2 FY 2025-26
India's three-wheeler market registered 7,67,136 three-wheelers in H2 FY 2025-26. Volumes grew strongly 18.6% against the 6,46,555 logged over the same 6 months of H2 FY 2024-25.
November was the strongest month of the period at 1,37,525 three-wheelers and March the quietest at 1,12,806, an average of 1,27,856 a month. Every one of those 6 months grew on the same month a year earlier.
November catches the tail of Diwali deliveries; whether it looks strong or weak depends largely on the festive calendar.
H2 FY 2025-26 ran from October 2025 to March 2026 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of H2 FY 2024-25.
Three-wheelers accounted for 4.3% of everything registered in India over the period, down from 4.4% in H2 FY 2024-25. The whole market ran to 1,79,62,970 vehicles over the same window, up 21.3% year on year.
Three-Wheeler registrations by month — H2 FY 2025-26 vs H2 FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of H2 FY 2025-26, with the matching month of H2 FY 2024-25 beside it.
| Month | H2 FY 2025-26 units | H2 FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| October 2025 | 1,35,785 | 1,27,373 | +6.6% | 17.7% |
| November 2025 | 1,37,525 | 1,12,941 | +21.8% | 17.9% |
| December 2025 | 1,30,178 | 96,489 | +34.9% | 17.0% |
| January 2026 | 1,30,342 | 1,09,979 | +18.5% | 17.0% |
| February 2026 | 1,20,500 | 97,266 | +23.9% | 15.7% |
| March 2026 | 1,12,806 | 1,02,507 | +10.0% | 14.7% |
Each month links through to its own full report.
Which manufacturer sold the most, H2 FY 2025-26
Bajaj Auto led the period with 2,78,930 registrations, up 15.5% on H2 FY 2024-25. Mahindra Last Mile follows on 59,255, 2,19,675 behind — a gap of 4.71x.
The fastest riser in the top 15 was Fede Industries, up 466.1% to 6,006, while YC Electric was down 29.8% at 16,203.
Volumes here are registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each is the manufacturer's three-wheeler volume over H2 FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — H2 FY 2025-26
Registrations inside the segment (three-wheelers only).
Exact registrations over October 2025 to March 2026, with the change against H2 FY 2024-25.
| # | Manufacturer | H2 FY 2025-26 units | Share of three-wheelers | vs H2 FY 2024-25 |
|---|---|---|---|---|
| 1 | Bajaj Auto | 2,78,930 | 36.36% | +15.5% |
| 2 | Mahindra Last Mile | 59,255 | 7.72% | +37.7% |
| 3 | Piaggio | 54,888 | 7.15% | +13.7% |
| 4 | TVS Motor | 33,544 | 4.37% | +122.3% |
| 5 | Atul Auto | 19,272 | 2.51% | +24.1% |
| 6 | YC Electric | 16,203 | 2.11% | −29.8% |
| 7 | Zeniak Innovation India | 11,286 | 1.47% | +141.1% |
| 8 | Dilli Electric | 11,219 | 1.46% | −5.4% |
| 9 | Saera Electric | 11,036 | 1.44% | −17.9% |
| 10 | Hooghly Motors | 8,068 | 1.05% | +250.8% |
| 11 | Aahana Commerce | 7,051 | 0.92% | +217.3% |
| 12 | J. S. Auto | 7,012 | 0.91% | +16.6% |
| 13 | Mini Metro EV | 6,447 | 0.84% | −4.7% |
| 14 | Terra Motors India | 6,139 | 0.80% | +48.4% |
| 15 | Fede Industries | 6,006 | 0.78% | +466.1% |
Three-Wheeler sales against the rest of the market
Set against the rest of the market, three-wheelers lagged the national picture over H2 FY 2025-26: +18.6% against +21.3% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 6-month window, so the comparison is like for like — the same months, the same source, on both sides.
Three-Wheeler share of the Indian market, month by month
Three-wheelers as a percentage of every vehicle registered that month.
Exact segment volumes over October 2025 to March 2026.
| Segment | H2 FY 2025-26 units | Share | vs H2 FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 1,29,95,074 | 72.34% | +21.7% |
| Cars & UVs | 26,33,991 | 14.66% | +20.4% |
| Three-Wheelers | 7,67,136 | 4.27% | +18.6% |
| Tractors | 6,10,525 | 3.40% | +26.1% |
| Goods Carriers | 5,66,200 | 3.15% | +22.3% |
| Taxis & Cabs | 2,07,623 | 1.16% | +24.6% |
| Other classes | 1,30,295 | 0.73% | +4.7% |
| Buses | 52,126 | 0.29% | +0.3% |
What three-wheelers run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers 2026 year to date rather than H2 FY 2025-26 alone — it is exact for that window.
Electric accounts for 61.1% of three-wheeler registrations over 2026 year to date, with battery-electric at 61.1%.
Three-Wheeler registrations by fuel — 2026 year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Electric | 7,16,979 | 61.11% | +2.37pp |
| CNG / LPG | 2,85,797 | 24.36% | −4.28pp |
| Diesel | 1,66,460 | 14.19% | +1.97pp |
| Petrol | 3,962 | 0.34% | −0.06pp |
| Other | 84 | 0.01% | 0.00pp |
Every H2 on record
Across the 2 completed windows in our Vahan record, three-wheeler registrations went from 6,46,555 in H2 FY 2024-25 to 7,67,136 in H2 FY 2025-26, up 18.6% over the stretch.
Three-Wheeler registrations by half year
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| H2 FY 2025-26 | 6 | 7,67,136 | +18.6% |
| H2 FY 2024-25 | 6 | 6,46,555 | +2.1% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Frequently asked questions
How many three-wheelers were sold in India in H2 FY 2025-26?
What period does H2 FY 2025-26 cover?
Which manufacturer sold the most three-wheelers in H2 FY 2025-26?
Which was the strongest month for three-wheeler sales in H2 FY 2025-26?
What share of the Indian market were three-wheelers in H2 FY 2025-26?
Which half year had the highest three-wheeler sales?
Are these retail sales or factory dispatches?
Three-Wheeler sales, other periods
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.
