Mahindra Cements No. 2 Spot in India’s EV Market as August 2026 Sales Surge 56%

India’s EV market continued its rapid expansion in August 2026, with total retail sales reaching 30,696 units — a robust 51.89% jump from the 20,210 units sold in the same month last year. Even with a modest 6.78% month-on-month dip attributed to monsoon seasonality, EVs pushed their share of the overall passenger vehicle market to 7.6%, up from 5.8% a year earlier.

Tata Motors remained comfortably out in front with 13,158 units sold, a 63.17% year-on-year increase that keeps the company firmly in its long-held position as India’s EV market leader. But the more interesting story played out just below it, where Mahindra & Mahindra solidified its hold on second place.

India EV Market Sales: Mahindra August 2026 Brand Rankings

It’s 6,464 units represented 56.17% year-on-year growth, comfortably ahead of third-placed JSW MG Motor, which instead saw sales decline 17.77% year-on-year to 4,622 units — a reversal from earlier in the year when MG had briefly reclaimed the second spot from it in some monthly readings.

Further down the rankings, VinFast Auto India posted a strong 48.38% month-on-month jump to 2,199 units as the Vietnamese newcomer continues to build out its India presence, while Maruti Suzuki’s entry into the segment added another 1,412 units. Hyundai and Kia also posted solid monthly gains of 41.87% and 37.23% respectively, though from a smaller base.

In the luxury EV space, BMW led with 274 units, ahead of Tesla’s 116 and Mercedes-Benz’s 114 — a reminder that while the mass-market battle between Tata and Mahindra dominates headlines, the premium segment continues to grow steadily in parallel.

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The second-place battle between Mahindra and MG has been especially volatile through 2026, with the rankings flipping more than once depending on the month, largely driven by MG’s Windsor and Comet models facing supply constraints while Mahindra’s BE 6 and XEV 9e continue to find steady demand among SUV buyers looking for a more premium electric option.

With the festive season historically driving a spike in vehicle purchases across India, all eyes will now be on whether Tata and Mahindra can sustain their current growth trajectories through the crucial October-November sales window, or whether newer entrants like VinFast and Maruti begin eating into the established leaders’ market share.