Electric vehicle registrations experienced a remarkable 74.7% year-on-year growth in October 2026, reaching 36,646 units compared to 20,979 units in the same month last year, according to data from market intelligence firm JATO Dynamics. This surge helped offset a significant contraction in the overall passenger vehicle market, which declined 14.6% to 501,406 units from 587,103 units in October 2025. Internal combustion engine vehicle registrations fell 17.9% to 464,760 units during the same period.
Tata Motors demonstrated the strongest EV adoption, with one in every five passenger vehicles registered in October being electric. The company's EV registrations rose 76.3% to 14,560 units from 8,259 units year-on-year, accounting for 20.2% of total registrations compared with 10.4% last year. However, ICE registrations declined 18.7% to 57,693 units, while overall registrations fell 8.8% to 72,253 units. Mahindra also showed strong EV growth, with registrations jumping 84.2% to 8,473 units, representing 13.2% of total registrations versus 6.3% previously. The company's ICE registrations declined 19.1%.
EV penetration in the passenger vehicle market nearly doubled to 7.3% from 3.6% a year earlier, as reported by JATO Dynamics. According to Ravi Bhatia, president of JATO Dynamics, electrification is becoming a key driver of growth, with EVs helping manufacturers like Tata and Mahindra cushion much sharper declines in conventional vehicle sales. The October performance reflects broader 2026 trends, with EV registrations increasing from 21,029 units in January to 35,777 units in October, having peaked at 37,284 units in September.
Tata Motors registered 117,547 EVs during the first 10 months of 2026, followed by Mahindra at 66,945 units and MG at 55,016 units, with the three manufacturers accounting for more than 83% of electric passenger vehicle registrations. The company's Punch.ev became the first standalone EV model to cross 5,000 sales in a month during October. Among other manufacturers, Maruti Suzuki's registrations declined 15.2% to 211,529 units, while Hyundai saw a 16.6% fall to 57,915 units. In contrast, MG recorded 4.3% growth and Nissan registered a 23% increase.
The October performance reflects a broader trend in electric passenger vehicle adoption during 2026, though JATO cautioned that the comparison should be viewed against the shift in festival calendar with Diwali falling on November 8 this year. November's registration numbers will provide clearer insight into whether the October contraction reflects a calendar-driven shift or sustained moderation in passenger vehicle demand. Despite the retail registration decline, passenger vehicle wholesale despatches rose 12.4% year-on-year to 528,384 units, with manufacturers reporting strong festival demand.
