Electric Car Sales Jump 87% In FY26, High-End Segment Leads In Share
· Free Press Journal
While the world is grappling with the oil crisis due to the West Asian war over the last two months, a new trend in passenger vehicle (PV) sales is emerging in the country, with more and more people opting for electric cars.
The sale of electric PVs in the country has seen a strong jump during the last financial year. According to a report by Business Standard, there has been an 87.4 percent increase in the sale of passenger vehicles.
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In absolute terms, the sales have risen to about 233,246 units in the financial year 2025-26 compared to 124,464 units in the previous financial year.
Karnataka Govt Withdraws EV Tax Exemption, Imposes 5–10 Per Cent Lifetime Road Tax On Electric Cars To Boost RevenueThe steep rise in sales shows that buyers are shedding concerns regarding charging stations in the country and realising the benefits of having electric-operated vehicles at a time when fuel prices are at an all-time high and climate change is a real concern.
However, granular data shows that the uptake of electric vehicles has remained strong in the high-end segment, while the mass market and entry-level segments still remain wary of range anxiety.
The share of EVs priced Rs 20–30 lakh surged to 35.7 percent in FY26, up from 24 percent in FY25 and just 8.6 percent in FY24, according to the Business Standard report.
India PV Sales Hit Record 45.5 Lakh Units In 2025, Up 6% On GST 2.0 BoostIn the sub-Rs 10 lakh segment, the share of electric cars fell to 6 percent of total sales from 7.2 percent a year earlier and 12.5 percent in FY24.
Still, the uptake of electric cars will be a relief for India, a country dependent on imports to meet over 80 percent of its energy needs.
According to experts, the weak share of electric cars in the entry-level segment can be bridged with more launches and greater alignment between user expectations, pricing, and features of electric cars.