The Indian electric vehicle (EV) industry experienced its strongest month ever in October 2025, driven by the festive season and strong consumer interest. Total EV registrations across all segments reached a record high of approximately 2.34 lakh units. This achievement represents a robust 5% year-on-year increase and a significant 27% sequential growth compared to the previous month.

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Key Segment Performance

The electric two-wheeler (E2W) segment led the charge, crossing a major milestone by surging past one million unit sales for the calendar year, with two months still remaining. October itself was a record month for E2Ws, with 1.44 lakh units registered, marking a 3% year-on-year and a 37% month-on-month jump in sales volume.

The electric three-wheeler segment (excluding e-rickshaws) also saw impressive growth, registering 70,604 units. This figure is up from 67,173 units in October 2024 and 61,044 units in September 2025.

In the electric passenger vehicle category (including e-cars and e-SUVs), registrations climbed to 17,874 units, a notable increase from 11,428 units in the same month last year and 16,346 units in September. This growth occurred despite a reduced price gap between EVs and internal combustion engine (ICE) vehicles following a recent GST rate cut on ICE models.

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Market Leaders by Segment

In the competitive E2W space, Bajaj Auto emerged as the top performer for the month with 31,207 units sold, followed closely by TVS Motor (29,494 units) and Ather (28,082 units). Other strong performers included Ola Electric (16,034 units), Hero MotoCorp (15,947 units), and Greaves Electric Mobility (7,629 units), with the latter two reporting their highest-ever monthly volumes for the calendar year.

Among electric passenger vehicles, Tata Motors maintained its dominant position with approximately 7,150 registrations. JSW MG Motor secured the second spot with 4,525 units, and the Mahindra Group followed with 3,875 units. New entrants, like the Vietnamese firm VinFast, also began making their mark, selling 131 electric cars during the month.

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Industry Outlook

While retail sales demonstrated considerable strength, the industry continues to grapple with operational challenges. Manufacturers, such as TVS Motor, noted that the availability of magnets remains a short-to-medium-term production concern. Despite these headwinds, the robust October performance highlights the accelerating adoption of electric mobility in India.