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FADA Three-Wheeler Retail Sales May 2026 reached 1.11 lakh units with passenger and goods segments driving growth. Bajaj Auto led the market, while Mahindra strengthened its overall market position.
By Robin Kumar Attri
Total three-wheeler retail sales reached 1.11 lakh units, up 1.29% MoM and 3.56% YoY.
Passenger three-wheelers recorded strong 25.80% YoY growth.
Goods three-wheelers grew 25.23% YoY, supported by last-mile delivery demand.
Passenger e-rickshaw sales declined 26.61% YoY.
Bajaj Auto retained market leadership with 35.06% market share.
Mahindra Group continued to strengthen its position in the three-wheeler market.
India's three-wheeler industry maintained positive momentum in May 2026 as retail sales crossed the 1.11 lakh-unit mark. According to FADA Research, total three-wheeler registrations stood at 1,11,526 units, showing both month-on-month and year-on-year growth.
The market continued to benefit from strong demand in the passenger and goods carrier segments, while the electric passenger e-rickshaw category remained under pressure. Traditional OEMs such as Bajaj Auto, Mahindra, Piaggio, and TVS continued to gain market share as demand for last-mile mobility and cargo transportation remained healthy across urban and rural markets.
Also Read: FADA Three-Wheeler Retail Sales April 2026: 1.06 Lakh Units Sold, Passenger Segment Drives Growth
The three-wheeler market registered 1,11,526 units in May 2026, compared to 1,10,104 units in April 2026 and 1,07,688 units in May 2025.
This translates into a 1.29% month-on-month (MoM) growth and a 3.56% year-on-year (YoY) increase, indicating steady recovery and sustained demand across key three-wheeler segments.
Growth was primarily supported by passenger carriers and cargo vehicles, which continued to benefit from increasing urban mobility requirements and expanding logistics activities.
Segment | May'26 Units | Apr'26 Units | May'25 Units | MoM Change | YoY Change |
Total Three-Wheelers | 1,11,526 | 1,10,104 | 1,07,688 | 1.29% | 3.56% |
E-Rickshaw (Passenger) | 29,812 | 28,138 | 40,619 | 5.95% | -26.61% |
E-Rickshaw with Cart (Goods) | 7,487 | 7,749 | 7,961 | -3.38% | -5.95% |
Three-Wheeler (Goods) | 13,482 | 13,754 | 10,766 | -1.98% | 25.23% |
Three-Wheeler (Passenger) | 60,643 | 60,351 | 48,206 | 0.48% | 25.80% |
Three-Wheeler (Personal) | 102 | 112 | 136 | -8.93% | -25.00% |
Passenger Three-wheelers remained the largest category in the market with 60,643 units sold during May 2026.
The segment recorded a modest 0.48% MoM growth and a strong 25.80% YoY increase, reflecting continued demand for affordable public transportation and shared mobility services across India.
The goods carrier segment registered 13,482 units during the month.
Although sales dipped 1.98% MoM, the segment posted a healthy 25.23% YoY growth, supported by rising demand from e-commerce, local delivery services, and small business logistics.
Passenger e-rickshaws recorded 29,812 units in May 2026.
The category grew 5.95% MoM, but sales remained significantly lower than last year, resulting in a 26.61% YoY decline. The decline indicates continued challenges in the electric passenger mobility segment, including intense competition and changing market dynamics.
The electric cargo three-wheeler segment registered 7,487 units.
Sales declined 3.38% MoM and 5.95% YoY, indicating slower growth in the electric goods transportation category compared to conventional cargo three-wheelers.
The personal-use segment remained the smallest category with only 102 units sold.
The segment declined 8.93% MoM and 25.00% YoY, highlighting limited consumer demand in this niche category.
May 2026 showcased a balanced performance for the three-wheeler industry. While overall market growth remained moderate, passenger and goods carrier segments continued to deliver strong annual gains.
The sharp decline in passenger e-rickshaw sales compared to last year suggests that the electric three-wheeler market is undergoing a transition phase. Meanwhile, conventional passenger and cargo vehicles continue to benefit from increasing mobility needs and commercial transportation demand.
India's three-wheeler market recorded 1,11,526 units in May 2026 compared to 1,07,688 units in May 2025. Leading manufacturers strengthened their market positions, while several electric-focused players witnessed mixed results.
OEM | May'26 Units | Market Share (May'26) | May'25 Units | Market Share (May'25) |
Bajaj Auto Ltd | 39,096 | 35.06% | 37,374 | 34.71% |
Mahindra & Mahindra Limited | 11,790 | 10.57% | 7,221 | 6.71% |
Mahindra Last Mile Mobility Ltd | 11,765 | 10.55% | 7,180 | 6.67% |
Mahindra & Mahindra Ltd (Others) | 25 | 0.02% | 41 | 0.04% |
Piaggio Vehicles Pvt Ltd | 7,749 | 6.95% | 6,494 | 6.03% |
TVS Motor Company Ltd | 5,931 | 5.32% | 3,551 | 3.30% |
Atul Auto Ltd | 2,564 | 2.30% | 2,059 | 1.91% |
YC Electric Vehicle | 2,270 | 2.04% | 3,678 | 3.42% |
Dilli Electric Auto Pvt Ltd | 1,501 | 1.35% | 1,735 | 1.61% |
Saera Electric Auto Pvt Ltd | 1,458 | 1.31% | 2,003 | 1.86% |
J. S. Auto (P) Ltd | 1,179 | 1.06% | 1,028 | 0.95% |
Others (Including EVs) | 37,988 | 34.06% | 42,545 | 39.51% |
Bajaj Auto remained India's largest three-wheeler manufacturer in May 2026, selling 39,096 units and capturing 35.06% market share. The company further strengthened its leadership position through strong demand across passenger and cargo segments.
Mahindra continued to emerge as one of the biggest gainers in the market.
Mahindra & Mahindra Limited sold 11,790 units with a 10.57% share.
Mahindra Last Mile Mobility Ltd registered 11,765 units with a 10.55% share.
Together, the Mahindra Group accounted for over 21% of the market, reflecting strong demand for both conventional and electric three-wheelers.
Piaggio sold 7,749 units and secured a 6.95% market share. The company maintained steady growth through its diversified passenger and cargo portfolio.
TVS Motor recorded 5,931 units, achieving a 5.32% market share. The company's growing focus on electric mobility continues to support its market expansion.
Atul Auto registered 2,564 units and held 2.30% market share. The company maintained stable demand, particularly in regional and semi-urban markets.
YC Electric sold 2,270 units, accounting for 2.04% market share. However, the company witnessed a decline compared to last year as competition intensified within the e-rickshaw segment.
Dilli Electric Auto reported 1,501 units, capturing 1.35% market share and maintaining its presence in the electric three-wheeler category.
Saera Electric Auto recorded 1,458 units, with a 1.31% market share. The company experienced softer demand compared to the previous year.
J. S. Auto sold 1,179 units and held a 1.06% market share, continuing to maintain steady performance in its key operating regions.
Other manufacturers collectively contributed 37,988 units, accounting for 34.06% market share. This highlights the fragmented nature of India's three-wheeler industry, where numerous regional and niche manufacturers continue to play an important role.
May 2026 data indicates that India's three-wheeler industry remains on a steady growth path. Established players such as Bajaj Auto, Mahindra, Piaggio, and TVS continue to strengthen their positions through strong passenger and cargo vehicle demand.
While some electric-focused manufacturers faced pressure due to increasing competition and changing market dynamics, the overall outlook for the industry remains positive. Growing urban mobility requirements, expanding last-mile transportation services, and rising logistics demand are expected to support future growth.
Also Read: Electric 3-Wheeler Goods Segment: Mahindra Leads Sales in May 2026, Bajaj Auto Shows Strong Growth
The Indian three-wheeler market delivered another positive month in May 2026, crossing 1.11 lakh retail sales. Strong growth in passenger and goods carriers continued to offset weakness in the e-rickshaw segment. Bajaj Auto retained its leadership position, while Mahindra Group emerged as one of the strongest performers with significant market share gains. As demand for affordable mobility and last-mile logistics continues to rise, the three-wheeler industry is expected to maintain steady momentum in the coming months.
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