FADA Three-Wheeler Retail Sales March 2026: Sales at 1.09 Lakh Units, Market Shows Mixed Trends

Key Highlights

• March 2026 three-wheeler sales stood at 1,09,777 units, down 6.28% MoM but up 10.52% YoY.

• The passenger segment led growth with 31.80% YoY rise despite a slight monthly dip.

• Goods three-wheelers grew 27.28% YoY, driven by last-mile delivery demand.

• Passenger e-rickshaw sales dropped sharply, down 16.94% MoM and 19.73% YoY.

• Bajaj Auto led the market with 37.50% share, followed by the Mahindra group and Piaggio.

India’s three-wheeler market continued to evolve in March 2026, reflecting a mix of short-term slowdown and strong yearly growth. According to FADA Research, total retail sales stood at 1,09,777 units, showing a 6.28% decline month-on-month (MoM) but a 10.52% growth year-on-year (YoY) compared to March 2025.

While demand remained stable across key segments like passenger and goods carriers, the electric passenger segment saw noticeable pressure during the month.

Also Read: FADA Three-Wheeler Retail Sales Report February 2026: Sales Reach 1,17,130 Units, Passenger and Goods Segments Show Strong YoY Growth

Overall Market Performance - March 2026

The three-wheeler industry recorded 1,09,777 units in March 2026, down from 1,17,130 units in February 2026, but higher than 99,325 units in March 2025.

This indicates that although the market faced a slight monthly correction, the overall growth momentum remains positive on a yearly basis, supported by strong demand for last-mile mobility and cargo transportation.

Category-Wise Three-Wheeler Sales - March 2026

Segment-Wise Sales Breakdown

Passenger Three-Wheelers

Passenger Three-Wheelers remained the largest segment with 59,283 units sold. The segment declined slightly by 2.13% MoM, but registered a strong 31.80% YoY growth.

This growth highlights increasing demand for affordable urban and semi-urban mobility solutions.

Goods Three-Wheelers

Goods carriers recorded 14,006 units, showing a 2.30% monthly decline but a sharp 27.28% YoY growth.

The segment continues to benefit from rising demand for last-mile delivery, e-commerce logistics, and small business transportation needs.

E-Rickshaw Passenger Segment

Passenger e-rickshaws retailed 28,946 units, witnessing a steep 16.94% MoM decline and a 19.73% YoY drop.

This indicates temporary demand fluctuations in the electric passenger segment, possibly due to financing challenges or regional demand shifts.

E-Rickshaw with Cart

The goods e-rickshaw category performed relatively better with 7,425 units, registering a 2.16% MoM growth and 3.24% YoY growth.

This reflects steady adoption of electric cargo mobility, especially for short-distance transport.

Personal Segment

The personal three-wheeler segment recorded just 117 units, but showed 9.35% MoM growth and an impressive 32.95% YoY increase, albeit on a low base.

OEM-Wise Three-Wheeler Sales - March 2026

OEM-Performance Insight - March 2026

Bajaj Auto Ltd

Bajaj Auto Ltd remained the clear market leader in March 2026 with 41,162 units sold. It captured a strong 37.50% market share, improving from last year, driven by its wide portfolio in passenger and cargo three-wheelers.

Mahindra & Mahindra Limited

Mahindra & Mahindra Limited recorded 9,963 units, securing a 9.08% market share. The company maintained steady growth, supported by strong demand across both ICE and electric three-wheeler segments.

Mahindra Last Mile Mobility Ltd sold 9,929 units, capturing 9.04% share. Its performance was driven by rising adoption of electric three-wheelers, especially in urban and last-mile mobility applications.

Piaggio Vehicles Pvt Ltd

Piaggio Vehicles Pvt Ltd retailed 8,643 units, achieving a 7.87% market share. The brand continued steady performance, supported by demand in both passenger carriers and cargo three-wheelers.

TVS Motor Company Ltd

TVS Motor Company Ltd sold 5,543 units, capturing 5.05% share. The company showed strong growth compared to last year, driven by its expanding presence in the electric three-wheeler segment.

Atul Auto Ltd

Atul Auto Ltd registered 3,022 units, holding a 2.75% market share. The brand maintained stable demand, particularly in rural and semi-urban markets.

YC Electric Vehicle

YC Electric Vehicle recorded 1,927 units with a 1.76% market share. However, the company saw a decline compared to last year, indicating increasing competition in the e-rickshaw space.

Dilli Electric Auto Pvt Ltd

Dilli Electric Auto Pvt Ltd sold 1,604 units, accounting for 1.46% share. The company continues to hold a steady position in the electric passenger three-wheeler segment.

Saera Electric Auto Pvt Ltd

Saera Electric Auto Pvt Ltd retailed 1,439 units, capturing 1.31% market share. The brand faced a slight decline, reflecting fluctuating demand in the e-rickshaw segment.

J. S. Auto (P) Ltd

J. S. Auto (P) Ltd reported 1,099 units, holding a 1.00% market share. Its performance remained stable, with consistent presence in select regional markets.

Other OEMs

Other OEMs collectively sold 35,375 units, accounting for 32.22% market share. This highlights the highly fragmented nature of India’s three-wheeler market, with many smaller and regional players contributing significantly.

Market Outlook

March 2026 confirms that India’s three-wheeler market is on a stable growth path, driven by rising demand for affordable mobility and last-mile logistics.

While electric passenger vehicles saw some slowdown, the broader EV ecosystem, especially in cargo, continues to expand. With government support, financing access, and increasing urban demand, the market is expected to maintain steady growth in the coming months.

Also Read: Tata Intra EV Pickup Launched With 211 km Range and 1,750 kg Payload

CMV360 Says

India’s three-wheeler market in March 2026 reflects a balanced but evolving landscape. While monthly sales softened, strong yearly growth and rising demand in passenger and cargo segments continue to drive the industry forward. Market leader Bajaj Auto remains firmly ahead, but increasing competition from Mahindra, TVS, and EV-focused players signals an exciting phase of transformation ahead.