Electric Goods Three-Wheeler (E-3W L5) Sales Show Mixed Trends in April 2026, Mahindra Leads the Market

Key Highlights

• Mahindra Last Mile Mobility leads the segment with strong YoY and MoM growth.

• Bajaj Auto records solid YoY growth but sees a MoM decline.

• Euler Motors faces a YoY drop but shows a positive monthly recovery.

• Omega Seiki reports a sharp decline in both YoY and MoM performance.

• Piaggio Vehicles continues to struggle with declining sales.

India’s electric goods three-wheeler (E-3W L5) segment witnessed mixed performance in April 2026. While year-on-year (YoY) growth remained positive for key players, month-on-month (MoM) trends showed volatility, indicating short-term demand fluctuations.

The segment continues to benefit from rising demand for last-mile cargo delivery, especially in e-commerce and urban logistics. However, some OEMs faced pressure due to market corrections after the previous month's strong sales.

The data is based on Vahan Dashboard registrations as of May 2, 2026. It covers 1,463 out of 1,466 RTOs across all 36 states and UTs. Telangana data is not included.

Also Read: Electric Passenger Three-Wheeler (E-3W L5) Sales Grow in March 2026, Bajaj Auto Leads the Market

Electric Goods Three-Wheeler (E-3W L5) Sales – April 2026

Source: Vahan Dashboard (as of May 2, 2026)

Brand-Wise Performance

Mahindra Last Mile Mobility

Mahindra Last Mile Mobility retained its top position with 642 units in April 2026. The company recorded 11.8% YoY growth and 14.0% MoM growth, reflecting strong and consistent demand in the cargo EV space.

Bajaj Auto

Bajaj Auto registered 442 units, achieving 16.9% YoY growth. However, it saw a 14.2% decline MoM, suggesting a temporary slowdown after previous momentum.

Euler Motors

Euler Motors reported 251 units. The company faced a 15% YoY decline, but posted a 9.1% MoM growth, indicating gradual recovery.

Omega Seiki

Omega Seiki sold 236 units in April 2026. It experienced a sharp 28.3% YoY decline along with a 27.6% MoM drop, showing significant pressure in demand.

Piaggio Vehicles

Piaggio Vehicles recorded 132 units, with a 6.4% YoY decline and 21.4% MoM drop, continuing its downward trend.

TVS Motor

TVS Motor Company posted 122 units, showing a 6.1% MoM growth. YoY comparison is not available, but the monthly growth indicates improving traction.

Market Outlook

The April 2026 data highlights that India’s electric goods three-wheeler market is still expanding, but with uneven growth across OEMs. Strong performance by market leaders like Mahindra shows steady adoption, while fluctuations in other brands reflect demand adjustments.

Growth in logistics, e-commerce deliveries, and rising fuel costs continue to push businesses towards electric cargo vehicles. However, competition is increasing, and consistent performance will depend on pricing, product reliability, and service network expansion.

Also Read: Ashok Leyland Sales April 2026: 14% Domestic Growth Driven by LCV and Trucks, Bus Segment Declines

CMV360 Says

India’s E-3W goods segment remains on a growth path, led by Mahindra Last Mile Mobility’s strong performance. While some OEMs faced short-term declines, the overall market direction stays positive. With increasing EV adoption in cargo transport, the segment is expected to grow steadily in the coming months.