India 3-Wheeler Market Sees Strong 29% Growth in February 2026

The Indian 3-wheeler industry continued its strong upward momentum in February 2026, recording a sharp rise in both sales and production. According to the latest SIAM report, the segment registered robust year-on-year growth driven by leading manufacturers such as Bajaj Auto, Mahindra & Mahindra, and Piaggio Vehicles. The overall performance highlights expanding domestic demand and improving export strength across the commercial vehicle segment.

Strong Sales Growth Led by Bajaj, Mahindra, Piaggio

The Indian 3-wheeler segment recorded total domestic sales of 74,573 units in February 2026, compared to 57,788 units in the same month last year, marking a 29.04% year-on-year increase.

Bajaj Auto remained the market leader with 46,417 units sold, significantly higher than 37,274 units in February 2025. Mahindra & Mahindra followed with 9,190 units, up from 6,395 units, reflecting steady growth in its commercial mobility lineup. Piaggio Vehicles also posted strong gains with 9,798 units sold compared to 7,576 units last year.

Other players including Atul Auto, TVS Motor, Baxy, Montra Electric, and EKA contributed to the overall market expansion, although their volumes remained comparatively smaller. The consistent rise in demand highlights increasing reliance on 3-wheelers for last-mile connectivity and urban transport solutions across India.

Production Output Expands Across Manufacturers

Production in the Indian 3-wheeler segment also saw significant growth, reaching 1,08,154 units in February 2026, up from 83,252 units in February 2025.

Bajaj Auto led production with 64,078 units, followed by TVS Motor with 20,474 units. Piaggio Vehicles manufactured 11,723 units, while Mahindra produced 7,726 units during the month. Smaller manufacturers such as Atul Auto, Montra Electric, Baxy, and EKA collectively contributed to overall output growth.

Between April and February of FY26, total production reached 11,83,915 units, compared to 9,62,801 units in the same period last fiscal year, indicating sustained expansion in manufacturing capacity and demand alignment.

Export Market Shows Strong Global Demand

Exports also registered strong growth, rising 48.96% year-on-year to 38,766 units in February 2026, compared to 26,024 units in February 2025.

Bajaj Auto led the export segment with 20,709 units shipped abroad, while TVS Motor followed with 15,877 units. Piaggio Vehicles exported 1,190 units, while Mahindra and Atul Auto contributed smaller volumes of 24 units and 489 units respectively.

The strong export performance indicates rising global demand for Indian 3-wheelers, particularly in developing markets where affordable and efficient mobility solutions are in high demand.

Market Outlook and Industry Performance

Overall, the February 2026 SIAM report highlights a strong recovery and expansion in the Indian 3-wheeler industry. Mahindra & Mahindra demonstrated stable domestic performance, while Piaggio maintained balanced production and sales alignment. Atul Auto also showed efficient inventory management with closely matched production and sales figures.

With rising domestic demand, improving exports, and expanding production capacity, the Indian 3-wheeler segment is positioned for continued growth in the coming months.