Mahindra & Mahindra Surpasses JSW MG Motor for No. 2 Spot in EV Sales, But Tata Motors Still Leads

In March 2026, Mahindra & Mahindra reported sales of 5,217 electric vehicles (EVs), surpassing JSW MG Motor's 5,113 units.  

This achievement positions Mahindra as the second-largest EV manufacturer, trailing only Tata Motors, which sold 8,224 units in the same month. 

Tata Motors Dominates the EV Market 

Despite increasing competition, Tata Motors remains the leader in the Indian EV market. The company sold 8,224 electric vehicles in March, representing a 65% growth from the previous year.  

However, Tata's market share decreased to 39.2% in FY26 from 53.4% in FY25, as competitors gained ground. 

Mahindra & Mahindra Progresses Rapidly 

Mahindra & Mahindra has swiftly risen to the second spot in the market in under 12 months since launching its electric SUVs.  

The company saw a 141% increase in EV sales, from 2,166 units in March 2025 to 5,217 units in March 2026.  

Consequently, its market share rose from 7.8% in FY25 to 21.2% by the end of FY26. 

JSW MG Motor's Consistent Performance 

JSW MG Motor's March sales rose by 21% year-on-year. The Windsor EV, in particular, has been a strong performer for the brand, though the company's fiscal-year market share slipped to 26.4% from 28.0%.  

Read More: March 2026 Auto Sales: Tata Motors Leads Growth, Mahindra Shows Stability Across Segments! 

Kia Motors Shows a Notable Surge 

Kia Motors emerged as a significant mover in the EV segment, with sales rising from 25 units in March 2025 to 940 units in March 2026.  

Over the fiscal year, Kia recorded 4,183 sold units, increasing its market share to 2.1% from 0.4%. 

Conclusion 

Mahindra & Mahindra's leap to second place illustrates the competitive and dynamic nature of the Indian EV market. While Tata Motors maintains its leading position, both Mahindra and JSW MG Motor have shown robust performances, indicative of increasing diversity and competition in the market. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.