Tata Leads MG And Mahindra In February 2026 EV Sales

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February 2026 EV dispatches in your table stood at 12,660 units, down sharply from 17,832 units in January. That is a 29 percent month on month contraction. The decline looks steep on paper, but February is typically a shorter month and often reflects inventory adjustments at the dealer level rather than a sudden demand collapse.

The market remains heavily concentrated. Tata Passenger Electric Mobility led February with 5,245 units, giving it roughly 41 percent share within this dataset. Its performance continues to be anchored by the Nexon.ev, which remains India’s highest volume electric SUV, along with incremental volumes from the Tiago.ev and Punch.ev. Even with a 34.5 percent MoM dip, Tata’s scale advantage is clear.

JSW MG Motor followed with 3,250 units, about 26 percent share. The Comet EV continues to drive urban demand thanks to its compact footprint and accessible pricing, while the ZS EV supports volumes in the premium compact SUV space. However, a 32 percent MoM drop suggests January likely saw stronger wholesale push.

Mahindra Electric delivered 2,796 units in February, taking about 22 percent share. The XUV400 (now 3XO EV) remains its core EV product, and steady traction in the compact SUV category is helping Mahindra retain a solid third position despite a 21 percent MoM decline.

Among mid volume players,BYD India Private Limited  was the standout gainer. It grew 26.6 percent month on month to 290 units, supported by models like the Atto 3 and the Seal sedan in the premium EV space. Hyundai recorded 304 units, largely from the Kona Electric and Ioniq 5, though volumes remain niche. BMW and Mercedes Benz operate in the luxury EV segment, where sales are naturally volatile and volume driven by specific allocations and bookings.

At the bottom end, Tesla India , Rolls Royce and other low volume brands show typical fluctuations seen in import led, premium categories. Overall, the data highlights one key trend: India’s EV market in early 2026 is still dominated by mass market electric SUVs, with three manufacturers accounting for nearly nine out of ten vehicles in this list.st. 

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EV sales dropped in February 2026 compared to January for most companies because January benefited from strong early-year demand. Many buyers purchased vehicles at the start of the year to take advantage of existing discounts, offers, and government incentives before any possible changes.

Data Taken From Vahan Portal On March 2