FADA December 2025 Three-Wheeler Sales Report

India’s three-wheeler retail market recorded 1,27,772 units in December 2025, marking a 4.61% year-on-year decline compared to December 2024, according to FADA Research. While conventional passenger and goods ICE segments slowed, electric three-wheelers, particularly e-rickshaws, continued to see strong growth, reflecting the rising shift toward sustainable urban mobility.

Segment-Wise Performance

The passenger e-rickshaw segment led EV growth, with 57,478 units sold, up 17.69% month-on-month and 40.76% YoY, driven by demand in urban and semi-urban areas for last-mile connectivity.

Goods-carrying e-rickshaws sold 7,607 units, a 6.78% drop from November, yet still achieved 30.61% YoY growth, highlighting steady uptake among small traders and delivery operators.

Conventional three-wheeler goods vehicles registered 11,214 units, down 16.03% MoM, but up 22.87% YoY, showing that long-term demand remains stable despite short-term softness.

Passenger three-wheelers recorded 51,363 units, a 19.05% decline month-on-month, yet up 35.07% from last year, reflecting a robust annual recovery. Personal three-wheelers, a niche segment, sold 110 units, down 24.66% MoM, but up 61.76% YoY due to a low base.

OEM Market Share – December 2025

Bajaj Auto Ltd remained the market leader with 35,208 units, capturing 27.56% share. Despite a slight dip from last year, Bajaj maintained dominance across passenger and goods segments, supported by a wide dealer network.

Mahindra & Mahindra Ltd sold 8,681 units (6.79%), while Mahindra Last Mile Mobility Ltd posted 8,418 units (6.59%), driven by its electric portfolio. Piaggio Vehicles Pvt Ltd accounted for 7,534 units (5.90%), and TVS Motor Company Ltd achieved 5,085 units (3.98%), reflecting strong EV adoption.

Emerging EV-focused brands like Zeniak Innovation (3.19%), Hooghly Motors (2.15%), Aahana Commerce (1.61%), and others contributed significantly to the growing 36.17% share of smaller OEMs, highlighting a fragmented yet fast-growing electric three-wheeler market.

Market Outlook

Despite a slight slowdown in overall sales, electric three-wheelers are driving long-term growth, supported by government EV policies, fleet electrification, and urban last-mile demand. Bajaj Auto continues to lead the market, while EV OEMs steadily expand their footprint, indicating a promising trajectory for India’s three-wheeler segment in 2026.