India EV Market Update: August Sales & Sector Momentum

India’s electric vehicle (EV) market registered strong momentum in August 2026, with total sales surging 51% year-on-year across electric passenger cars and two-wheelers. Despite the robust annual growth, overall sales moderated 12% sequentially from July, driven by reduced regional transport office (RTO) registration days during festive holidays such as Onam and Rakshabandhan. Electric passenger vehicle registrations reached 29,687 units during the month, compared to July's record high of 33,746 units. In the two-wheeler segment, combined sales across the top five listed manufacturers expanded 69% year-on-year to 160,000 units. Legacy auto players led this annual expansion, with Bajaj Auto and TVS Motor Company recording sales gains of 235% and 91% respectively, contrasting with a 29% sales decline reported by Ola Electric. On a month-on-month basis, electric two-wheeler sales eased by 11%, bringing category penetration down slightly to 10.7% from 11.2% in July, though operational metrics remained substantially above 2025 levels. Viewing the sequential dip as seasonal, major original equipment manufacturers (OEMs)—including Tata Motors, Mahindra & Mahindra, JSW MG Motor, Bajaj Auto, TVS Motor, and Ather Energy—are continuing to expand manufacturing infrastructure and commission assembly lines. Tata Motors maintained its leadership in the electric passenger vehicle segment with 12,984 registrations in August, followed by Mahindra & Mahindra (6,367 units) and JSW MG Motor (4,568 units), confirming sustained structural capital deployment across India's e-mobility ecosystem.