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

Key Highlights

• Total three-wheeler sales stood at 1,17,130 units in February 2026.

• Overall sales declined 7.87% MoM but grew 24.39% YoY.

• Passenger three-wheelers recorded 36.01% annual growth.

• Goods three-wheelers saw 32.34% YoY growth.

• The passenger e-rickshaw segment declined 21.61% MoM.

• Bajaj Auto Ltd led the market with a 38.04% share.

India’s three-wheeler retail market recorded 1,17,130 units in February 2026, according to FADA Research. The segment witnessed a 7.87% month-on-month (MoM) decline compared to January 2026 but registered a 24.39% year-on-year (YoY) growth compared to February 2025.

Demand in the passenger and goods segments remained strong, while the passenger e-rickshaw category saw a notable monthly drop. Among OEMs, Bajaj Auto Ltd continued to dominate the market with the highest retail volumes and market share.

Also Read: FADA Three-Wheeler Retail Sales Report January 2026: Sales at 1,27,134 Units, Passenger Segment Drives Growth

Overall Three-Wheeler Market Performance - February 2026

The three-wheeler industry showed healthy annual growth in February 2026 despite a short-term decline compared to January. Growth was largely supported by strong demand for passenger carriers and goods vehicles, while some electric segments experienced mixed trends.

Segment-Wise Three-Wheeler Sales Breakdown - February 2026

Segment Analysis

Passenger Three-Wheelers

Passenger three-wheelers remained the largest segment with 60,572 units sold in February 2026. While the segment saw a slight 0.21% decline compared to January, it recorded a strong 36.01% growth compared to February 2025, showing continued demand for urban and semi-urban mobility.

Goods Three-Wheelers

Goods carriers sold 14,335 units, registering a 0.96% monthly growth and 32.34% annual growth. Rising demand for last-mile cargo transportation and small business logistics supported this segment.

E-Rickshaw (Passenger)

Passenger e-rickshaws retailed 34,848 units in February 2026. The segment experienced a 21.61% MoM decline but still posted 7.75% YoY growth, indicating sustained EV adoption despite short-term fluctuations.

E-Rickshaw with Cart

Goods e-rickshaws recorded 7,268 units, reflecting a 5.07% monthly decline but 13.90% growth year-on-year, highlighting increasing adoption of electric cargo mobility.

Personal Three-Wheelers

The personal category remained very small with 107 units sold. However, it showed a strong 50.70% YoY increase, though volumes are still limited.

OEM-Wise Three-Wheeler Market Share - February 2026

OEM Performance Insights - February 2026

Bajaj Auto Ltd

Bajaj Auto remained the clear market leader with 44,556 units sold, capturing 38.04% market share, supported by its strong portfolio in passenger and cargo three-wheelers.

Piaggio Vehicles Pvt Ltd

Piaggio recorded 8,812 units, achieving 7.52% market share, with steady demand for its cargo and passenger three-wheelers.

Mahindra & Mahindra Ltd

Mahindra & Mahindra sold 8,637 units, accounting for 7.37% share, maintaining stable demand across segments.

Mahindra Last Mile Mobility retailed 8,514 units, securing 7.27% share, driven by its electric three-wheeler portfolio.

TVS Motor Company Ltd

TVS sold 5,201 units, capturing 4.44% market share, supported by its expanding presence in the electric three-wheeler market.

Atul Auto Ltd

Atul Auto recorded 3,140 units, holding 2.68% share, with stable demand across rural and semi-urban markets.

YC Electric Vehicle

YC Electric retailed 1,952 units, accounting for 1.67% market share.

Dilli Electric Auto Pvt Ltd

Dilli Electric Auto sold 1,591 units, contributing 1.36% share in the electric rickshaw segment.

Saera Electric Auto Pvt Ltd

Saera Electric recorded 1,573 units, securing 1.34% market share.

Zeniak Innovation India Ltd

Zeniak Innovation sold 1,420 units, capturing 1.21% share, reflecting rising EV acceptance.

Hooghly Motors Pvt Ltd

Hooghly Motors reported 1,265 units, achieving 1.08% market share, mainly supported by regional EV demand.

Others (Including EV Brands)

Other OEMs together sold 38,983 units, accounting for 33.28% of the market, highlighting the fragmented nature of India’s three-wheeler industry.

Market Outlook

February 2026 reflects a stable outlook for India’s three-wheeler market. While sales declined slightly compared to January, the segment continued to show strong year-on-year growth driven by passenger mobility and cargo transportation demand. Electric three-wheelers remain an important part of the market, although monthly fluctuations are visible in the e-rickshaw segment. With increasing last-mile connectivity needs, financing availability, and policy support for EV adoption, the three-wheeler market is expected to maintain steady momentum in the coming months.

Also Read: FADA Retail CV Sales February 2026: 1,00,820 Units Sold, Tata Motors Retains Market Leadership

CMV360 Says

India’s three-wheeler retail market recorded 1,17,130 units in February 2026, showing strong annual growth despite a monthly decline. Passenger and goods segments remained the key drivers, while EV categories showed mixed trends. Bajaj Auto strengthened its leadership position, and several electric vehicle brands continued expanding their presence in India’s evolving mobility ecosystem.