Three-Wheeler Sales Q3 FY 2025-26: Bajaj Auto Leads, 4,03,488 Units, Up 19.8% YoY
Every three-wheeler registered in India over Q3 FY 2025-26 — October 2025 to December 2025. Q3 of the financial year, October to December. 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, Q3 FY 2025-26
India's three-wheeler market registered 4,03,488 three-wheelers in Q3 FY 2025-26. Volumes pushed ahead 19.8% against the 3,36,803 logged over the same 3 months of Q3 FY 2024-25.
November was the strongest month of the period at 1,37,525 three-wheelers and December the quietest at 1,30,178, an average of 1,34,496 a month. Every one of those 3 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.
Q3 FY 2025-26 ran from October 2025 to December 2025 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of Q3 FY 2024-25.
Three-wheelers accounted for 4.1% of everything registered in India over the period, up from 4.1% in Q3 FY 2024-25. The whole market ran to 97,69,271 vehicles over the same window, up 19.7% year on year.
Three-Wheeler registrations by month — Q3 FY 2025-26 vs Q3 FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q3 FY 2025-26, with the matching month of Q3 FY 2024-25 beside it.
| Month | Q3 FY 2025-26 units | Q3 FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| October 2025 | 1,35,785 | 1,27,373 | +6.6% | 33.7% |
| November 2025 | 1,37,525 | 1,12,941 | +21.8% | 34.1% |
| December 2025 | 1,30,178 | 96,489 | +34.9% | 32.3% |
Each month links through to its own full report.
Which manufacturer sold the most, Q3 FY 2025-26
Bajaj Auto led the period with 1,40,535 registrations, up 11.6% on Q3 FY 2024-25. Mahindra Last Mile follows on 32,725, 1,07,810 behind — a gap of 4.29x.
The fastest riser in the top 15 was Fede Industries, up 674.0% to 3,429, while YC Electric was down 19.9% at 9,908.
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 Q3 FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — Q3 FY 2025-26
Registrations inside the segment (three-wheelers only).
Exact registrations over October 2025 to December 2025, with the change against Q3 FY 2024-25.
| # | Manufacturer | Q3 FY 2025-26 units | Share of three-wheelers | vs Q3 FY 2024-25 |
|---|---|---|---|---|
| 1 | Bajaj Auto | 1,40,535 | 34.83% | +11.6% |
| 2 | Mahindra Last Mile | 32,725 | 8.11% | +47.0% |
| 3 | Piaggio | 27,734 | 6.87% | +8.9% |
| 4 | TVS Motor | 16,724 | 4.14% | +147.1% |
| 5 | YC Electric | 9,908 | 2.46% | −19.9% |
| 6 | Atul Auto | 9,791 | 2.43% | +23.0% |
| 7 | Saera Electric | 6,413 | 1.59% | −6.6% |
| 8 | Zeniak Innovation India | 6,384 | 1.58% | +162.0% |
| 9 | Dilli Electric | 6,110 | 1.51% | −5.9% |
| 10 | Hooghly Motors | 4,424 | 1.10% | +246.2% |
| 11 | Terra Motors India | 3,788 | 0.94% | +72.9% |
| 12 | Aahana Commerce | 3,703 | 0.92% | +254.4% |
| 13 | Mini Metro EV | 3,639 | 0.90% | −4.4% |
| 14 | J. S. Auto | 3,576 | 0.89% | +20.8% |
| 15 | Fede Industries | 3,429 | 0.85% | +674.0% |
Three-Wheeler sales against the rest of the market
Set against the rest of the market, three-wheelers outgrew the national picture over Q3 FY 2025-26: +19.8% against +19.7% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 3-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 December 2025.
| Segment | Q3 FY 2025-26 units | Share | vs Q3 FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 72,76,573 | 74.48% | +19.1% |
| Cars & UVs | 13,16,330 | 13.47% | +20.3% |
| Three-Wheelers | 4,03,488 | 4.13% | +19.8% |
| Tractors | 3,19,101 | 3.27% | +28.5% |
| Goods Carriers | 2,70,608 | 2.77% | +21.7% |
| Taxis & Cabs | 97,603 | 1.00% | +29.3% |
| Other classes | 60,826 | 0.62% | +9.9% |
| Buses | 24,742 | 0.25% | +6.6% |
What three-wheelers run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers full-year 2025 rather than Q3 FY 2025-26 alone — it is exact for that window.
Electric accounts for 58.7% of three-wheeler registrations over full-year 2025, with battery-electric at 58.7%.
Three-Wheeler registrations by fuel — full-year 2025
The full-year 2025 mix.
| Fuel | 2025 units | Share | vs full-year 2024 |
|---|---|---|---|
| Electric | 8,00,627 | 58.74% | +3.76pp |
| CNG / LPG | 3,90,340 | 28.64% | −3.55pp |
| Diesel | 1,66,581 | 12.22% | +0.29pp |
| Petrol | 5,415 | 0.40% | −0.49pp |
| Other | 111 | 0.01% | −0.01pp |
Every Q3 on record
Across the 2 completed windows in our Vahan record, three-wheeler registrations went from 3,36,803 in Q3 FY 2024-25 to 4,03,488 in Q3 FY 2025-26, up 19.8% over the stretch.
Three-Wheeler registrations by quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q3 FY 2025-26 | 3 | 4,03,488 | +19.8% |
| Q3 FY 2024-25 | 3 | 3,36,803 | +4.4% |
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 Q3 FY 2025-26?
What period does Q3 FY 2025-26 cover?
Which manufacturer sold the most three-wheelers in Q3 FY 2025-26?
Which was the strongest month for three-wheeler sales in Q3 FY 2025-26?
What share of the Indian market were three-wheelers in Q3 FY 2025-26?
Which quarter 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.
