January 2026 EV sales: Tata claws back market share from MG, Mahindra

The Indian electric car segment registered sales of 18,042 units in January 2026, a 51 percent increase from 11,909 units in the year-ago period. It was the third-best month after October 2025 (19,195 units) and August 2025 (18,563 units). If this momentum continues in February and March, FY2026 may even come very close to the 2,00,000-unit milestone.

1. Tata’s EV sales jumped 48 percent YoY, market share rose to 43.52 percent
2.  Vinfast, the newest EV company here, delivered 432 electric SUVs last month

Notably, last month’s performance comes on the back of the segment clocking record annual sales of 1,77,415 units in 2025.

Mass-market carmakers

Tata Motors

Tata Motors continued to lead the EV market, posting its highest-ever monthly sales. In January, the carmaker sold 7,852 electric vehicles, up 48 percent year on year (YoY) from 5,292 units in January 2025, giving it a 43.52 percent market share. The previous record was 7,701 units in October 2025, when it held a 40 percent share. The strong performance was driven mainly by the new Harrier EV, while the Nexon EV, Tiago EV and Punch EV continued to have their share of buyers. The Curvv EV coupe-SUV, however, is yet to gain proper sales traction.

JSW MG Motor

Next up is JSW MG Motor, which sold 4,606 EVs in January, a marginal 2 percent increase over the 4,527 units sold a year earlier, giving it a 25.52 percent market share. The brand has chipped away at Tata Motors’s lead with the Windsor EV and has since widened its line-up with the M9 MPV and the Cyberster electric roadster; over 500 units of the latter have been sold in about six months since launch. Other MG EVs on sale in India are the Comet EV and ZS EV.

Mahindra

Mahindra delivered 3,589 electric SUVs, a sharp 386 percent jump over the 739 units sold in January 2025. This pushed its EV market share to 20 percent from just 6 percent last year. Growth has been led by the BE 6 and XEV 9e electric SUVs, with some fillip from the recently introduced XEV 9S.

Vinfast

At number four is Vinfast, with 432 electric SUVs delivered in January. This gives the company a 2 percent electric passenger vehicle market share in only its fourth month, which is remarkable for a new brand. Starting with 136 units in October, sales of the locally assembled VF6 and VF7 have risen month on month, with 310 units in November and 384 units in December. Vinfast has also confirmed plans to launch another model – the seven-seater Limo Green electric MPV – this month.

Hyundai

Hyundai sold 326 EVs in January 2026, five units fewer than it did a year ago, a decline of 2 percent. With the Creta Electric and Ioniq 5 in its line-up, the brand is seeing slow demand and now ranks fifth among the 17 electric passenger vehicle makers.

Kia

Kia’s EV sales rose fivefold to 306 units in January 2026 on a low base of just 51 units a year earlier. Despite this sharp growth, this was Kia’s weakest monthly performance in the six months, following stronger volumes between August and December. Kia’s electric line-up includes the Carens Clavis EV, an MPV for the mass market, along with the EV6 and EV9, both sold in India as CBUs.

BYD

BYD sold 224 electric vehicles last month, a 34 percent year-on-year decline. The brand’s India portfolio includes the Atto 3 SUV, the Seal sedan, the eMax 7 MPV and the Sealion 7 SUV. Prices of the Sealion 7 were increased from January 1.

Maruti Suzuki

Maruti Suzuki, which unveiled its first electric vehicle, the e-Vitara SUV, on January 17, is listed on the Vahan portal with 210 units. While prices are yet to be announced, these are likely to be dealer dispatches. The e Vitara will be offered in three trims: Delta 49kWh, Zeta 61kWh and the range-topping Alpha 61kWh.

Luxury segment

BMW leads with 68 percent share

Together, the eight luxury electric car and SUV makers sold 456 units in January 2026, up 28 percent YoY. BMW led the segment by a wide margin with 312 units, a 61 jump YoY, giving it a dominant 68 percent share of the luxury EV market.

Mercedes-Benz followed with 69 electric vehicles, down 34 percent from a year ago, translating to a 15 percent market share. Tesla, the newest entrant in India’s luxury car space, edged past Volvo to take fourth place with 37 units of the Model Y, accounting for an 8 percent share. This brings Tesla’s total sales since its September 2025 entry to 263 units, well below early expectations. Volvo sold 35 electric cars and SUVs, up 21 percent YoY, while Rolls-Royce reported two units of its all-electric Spectre.

With inputs from Uday Singh.