FY2026 (April 2025-March 2026) was a prosperous time for India’s luxury EV market, as total sales increased 61 percent year-on-year (YoY) for an all-time high of 5,404 units; FY2025 saw 3,357 luxury EVs sold. Much of the uptick in YoY luxury EV sales is attributed to market leader BMW, which more than doubled its FY2025 volumes, while many other notable players recorded sales declines.
Compared to India’s broader EV market, luxury EV sellers accounted for a smaller market share in FY2026 – 2.71 percent compared to FY2025’s 3.08 percent share.
- BMW outsold Mercedes-Benz in the EV market by over three times
- Tesla ranked fourth among luxury EV sellers with over 6 percent market share
- Audi EVs recorded the steepest sales decline in FY2026
FY2026 luxury EV sales chart
BMW India EV sales in FY2026: 3,537 units
Not only did BMW retain pole position on the luxury EV sales charts in FY2026, the German marque achieved a staggering 124 percent YoY bump in volumes. At 3,537 units sold, BMW more than tripled Mercedes-Benz’s FY2026 luxury EV sales and increased its market share from a smidgen over 47 percent in FY2025 to well over 65 percent in the last fiscal year. The iX1 LWB held the lion’s share of BMW’s FY2026 EV sales, having sold around 3,200 units.
Mercedes-Benz India EV sales in FY2026: 1,047 units
In FY2026, Mercedes-Benz sold 110 fewer EVs compared to FY2025 sales numbers, marking a 10 percent decline. While the sales drop was relatively low, Mercedes-Benz’s EV market share decreased the most among all luxury EV players in FY2026 – from 34.49 percent to 19.35 percent. Among the reasons behind this performance is Mercedes-Benz’s EV mix skewing towards higher prices. Around 20 percent of the Mercedes-Benz EV sales came from the EQS SUV, pricing for which starts at Rs 1.34 crore.
Volvo India EV sales in FY2026: 382 units
Volvo held onto third position in the FY2026 luxury EV sales chart, but recorded a 5 percent YoY drop in volumes. Alongside the decline in sales, Volvo’s EV market share went down from 12.01 percent in FY2025 to 7.07 percent in FY2026. Volvo launched the EX30 here in 2025, which, at Rs 41 lakh, is the brand's most affordable EV currently available in India.
Tesla India EV sales in FY2026: 342 units
American EV giant Tesla finally entered India in 2025 and ascended to fourth place on the sales charts in its first fiscal year. Tesla India sold 342 units of the Model Y in FY2026, prices for which start at Rs 59.89 lakh, and the EV maker garnered a market share of 6.33 percent.
Porsche India EV sales in FY2026: 59 units
Given that Porsche sells very high-end, high-performance EVs, the German carmaker impressively achieved stable YoY volumes in FY2026. At 59 EVs sold – one more than in FY2025 – Porsche recorded a YoY sales increase of 2 percent and an 8 percent EV penetration level from its total FY2026 sales of 697 units. Owing to intensified competition, though, Porsche’s EV market share dropped from 1.72 percent in FY2025 to 1.09 percent in FY2026.
Audi India EV sales in FY2026: 17 units
Demand for Audi EVs dropped sharply in FY2026, with the brand selling just 17 units, down from 131 units in FY2025. That’s an 87 percent YoY decline – the highest of any luxury EV player. Consequently, Audi’s EV market share dwindled from 3.9 percent in FY2025 to a miniscule 0.31 percent in FY2026. In fact, none of Audi’s EVs are currently available to order in India.
Rolls-Royce India EV sales in FY2026: 15 units
Rolls-Royce has only one EV on sale in India – the Spectre – 15 units of which were sold in FY2026. Compared to FY2025 volumes (24 units), Spectre sales in India dropped 38 percent in FY2026, and Rolls-Royce’s EV market share dipped from 0.71 percent to 0.27 percent during the same time period.
JLR India EV sales in FY2026: 5 units
Neither Jaguar nor Land Rover have any EVs on sale at the moment, so the 5 units sold in FY2026 come from the leftover inventory of the I-Pace SUV, which was pulled from sale all the way back in July 2024. Interestingly, JLR sold one more I-Pace in FY2026 than it did the previous fiscal year, representing a 25 percent YoY increase.
All prices are ex-showroom, India.
Suraj Viswanathan
Hormazd Sorabjee
Ketan Thakkar
