E-3W Goods L5 Sales Report (February 2026): Mahindra Last Mile Mobility Leads, Green Evolve Sees Strong Growth

Key Highlights

• Mahindra Last Mile Mobility leads E-3W goods L5 sales in February 2026 with 571 units.

• Bajaj Auto records positive year-on-year growth despite a small monthly dip.

• Omega Seiki shows slight month-on-month improvement but faces YoY decline.

• Atul Auto maintains stable monthly sales with nearly unchanged volumes.

• Green Evolve posts the highest YoY growth among major OEMs.

India’s electric three-wheeler (E-3W) goods L5 segment continued to maintain stable demand in February 2026, according to the latest OEM-wise sales trend. The data compares registrations for February 2026, January 2026, and February 2025, providing insights into both month-on-month (MoM) and year-on-year (YoY) performance across key manufacturers.

The segment remains dominated by established players such as Mahindra Last Mile Mobility, Bajaj Auto, and Omega Seiki, while emerging brands like Green Evolve are gradually strengthening their presence in the electric cargo vehicle market.

Also Read: E-3W Goods L5 Sales Trend: Mahindra, Bajaj, and Omega Seiki Lead Market Momentum

E-3W Goods L5 OEM Sales Table

E-3W Goods L5 OEM Sales Performance – February 2026

Mahindra Last Mile Mobility

Mahindra Last Mile Mobility retained its leadership position in the E-3W goods segment with 571 units registered in February 2026. Compared with January 2026 (471 units), the company recorded a strong 21.2% MoM growth, showing improved demand in the last-mile cargo segment. However, sales were slightly lower than February 2025 (592 units), resulting in a 3.5% YoY decline.

Bajaj Auto

Bajaj Auto registered 453 units in February 2026. This represents a 5.3% YoY increase compared with 430 units in February 2025, reflecting healthy long-term demand. On a monthly basis, sales slipped 2.6% from 465 units in January 2026, indicating a marginal short-term slowdown.

Omega Seiki

Omega Seiki reported 377 units in February 2026, slightly higher than 370 units in January 2026, resulting in a 1.9% MoM growth. However, the company faced a significant 29.4% YoY decline compared with 534 units in February 2025, suggesting softer demand relative to last year’s strong performance.

Atul Auto

Atul Auto recorded 287 units in February 2026, almost unchanged from 289 units in January 2026, reflecting a minor 0.7% MoM decline. The company had registered 74 units in February 2025, though official YoY growth figures were not specified in the data.

Euler Motors

Euler Motors registered 201 units in February 2026. Compared with 217 units in January 2026, the company saw a 7.4% MoM decline. On a yearly basis, sales improved slightly from 199 units in February 2025, resulting in a 1% YoY growth.

Green Evolve

Green Evolve continued to expand its market presence with 151 units registered in February 2026, up from 140 units in January 2026, achieving a 7.9% MoM growth. The brand also posted the highest YoY growth of 122.1%, compared with 68 units in February 2025, highlighting rapid expansion in the electric cargo segment.

Market Overview and Industry Insight

The February 2026 E-3W goods L5 sales trend shows that the segment remains strongly driven by leading OEMs such as Mahindra Last Mile Mobility, Bajaj Auto, and Omega Seiki. While Mahindra continues to dominate overall volumes, other manufacturers are gradually strengthening their position.

Brands like Green Evolve are experiencing rapid expansion, while companies such as Euler Motors and Atul Auto continue to maintain stable demand levels. Despite mixed growth trends across manufacturers, the electric cargo three-wheeler market remains active due to rising adoption in last-mile delivery, logistics services, and urban transportation solutions.

Also Read: India Electric Bus Sales Report - February 2026: Switch Mobility Leads with 48.4% Market Share

CMV360 Says

The February 2026 sales performance highlights a competitive yet stable electric three-wheeler goods market in India. Mahindra continues to lead in overall volumes, while emerging players such as Green Evolve are gaining momentum through strong growth. With increasing demand for sustainable last-mile logistics and expanding EV adoption, the E-3W goods L5 segment is expected to remain an important part of India’s commercial electric vehicle ecosystem.