Electric vehicle retail momentum in India remained strong in February 2026, with all major segments recording year-on-year growth. Data released by the Federation of Automobile Dealers Associations (FADA) shows that electric two-wheelers, passenger cars, three-wheelers and commercial vehicles have all achieved healthy growth. However, due to the rapid growth in the number of internal combustion engine vehicles, the overall penetration rate of electric vehicles has basically remained stable. Mr. CS Vigneshwar, President, FADA, shared his views on the latest retail trends, highlighting the steady growth of the Indian EV ecosystem and the structural factors supporting the long-term growth of the industry.
Commenting on the performance, Mr. CS Vigneshwar, President, FADA, said, “In February 2026, retail sales of electric vehicles continued to grow year-on-year across categories, although the overall penetration of electric vehicles remained largely in-range due to faster growth in ICE sales. Electric 2W retail sales were 1,11,709 units (up 45.60% year-on-year), with an EV share of approximately 6.6%. Electric PV retail sales reached 13,733 units vehicles (+44.48% year-on-year), with a share of approximately 3.5%. Electric 3W remains the most electrified segment, with 66,398 units (+25.09% year-on-year), with a share of approximately 56.7%. Electric commercial vehicles increased to 2,051 units (+156.4% year-on-year), albeit from a smaller base, and increased their share to ~2.03%.
The sequential weakness in some EV categories largely reflects the shorter month and higher base in January and does not undermine the structural direction of India’s EV transition. Importantly, India’s EV story is built on stronger foundations – improved product selection, expanded charging ecosystem, better financing comfort and growing consumer confidence. As these building blocks deepen and scale, we expect healthy year-over-year growth to translate into more meaningful increases in EV penetration over the medium term. “
