Electric Three-Wheeler (E-3W) Goods L5 Sales Report March 2026: Mahindra Leads, Green Evolve Shows Strong Growth

Key Highlights

• Mahindra Last Mile Mobility led March 2026 sales with 564 units.

• Bajaj Auto recorded a strong MoM growth of 13.2%.

• Omega Seiki posted 37% YoY growth despite a monthly dip.

• Green Evolve saw the highest MoM growth at 65.6%.

• Atul Auto achieved a strong YoY growth of 130.8%.

India’s electric three-wheeler (E-3W) goods L5 segment continued to show steady demand in March 2026, with leading OEMs maintaining strong positions while emerging players expanded their presence. The latest data from the Vahan Dashboard compares March 2026, February 2026, and March 2025 registrations, giving a clear view of month-on-month (MoM) and year-on-year (YoY) performance.

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

E-3W Goods L5 Sales Trend by OEM (Units)

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

Note: Telangana data not included. Data covers 1459 out of 1464 RTOs across 35 out of 36 states/UTs.

E-3W Goods L5 Sales Performance – March 2026

Mahindra Last Mile Mobility

Mahindra retained its top position with 564 units in March 2026. However, sales declined compared to 571 units in February 2026, resulting in a 1.2% MoM drop. On a yearly basis, volumes fell from 703 units in March 2025, leading to a 19.8% YoY decline.

Bajaj Auto

Bajaj Auto registered 513 units in March 2026, up from 453 units in February 2026, marking a strong 13.2% MoM growth. Despite this, sales were slightly lower than 539 units in March 2025, resulting in a 4.8% YoY decline.

Omega Seiki

Omega Seiki recorded 326 units in March 2026, down from 377 units in February 2026, reflecting a 13.5% MoM decline. However, compared to 238 units in March 2025, the company posted a solid 37% YoY growth.

Green Evolve

Green Evolve showed impressive momentum with 250 units in March 2026, significantly higher than 151 units in February 2026, achieving a sharp 65.6% MoM growth. March 2025 sales stood at 82 units, highlighting strong expansion, though YoY percentage was not specified.

Atul Auto

Atul Auto reported 240 units in March 2026, down from 287 units in February 2026, showing a 16.4% MoM decline. However, compared to 104 units in March 2025, the company achieved a strong 130.8% YoY growth.

Euler Motors

Euler Motors registered 229 units in March 2026, up from 201 units in February 2026, resulting in a 13.9% MoM growth. However, sales declined from 342 units in March 2025, leading to a 33% YoY drop.

Market Overview and Industry Insight

The March 2026 sales trend shows that the E-3W goods L5 segment remains stable and competitive. Established players like Mahindra and Bajaj continue to dominate overall volumes, while companies such as Omega Seiki and Atul Auto are showing mixed trends across monthly and yearly performance.

Emerging brands like Green Evolve are rapidly expanding, driven by increasing demand for last-mile delivery, logistics, and urban cargo transport. Meanwhile, manufacturers like Euler Motors are maintaining a steady presence despite YoY fluctuations.

Also Read: FASTag Boom & CV Traffic Drive 14% Surge in India’s Toll Revenue in FY26

CMV360 Says

The March 2026 performance highlights a balanced and evolving electric cargo three-wheeler market in India. While Mahindra continues to lead, strong MoM growth from players like Bajaj and Green Evolve signals rising competition. With growing EV adoption and demand for sustainable logistics solutions, the E-3W goods segment is expected to remain a key growth driver in India’s commercial vehicle ecosystem.