The Indian passenger EV market recorded a significant uptick in October 2025, with total retail sales reaching 17,783 units. This represents a strong **56 percent year-on-year (YoY) growth** compared to October 2024 (11,444 units) and a 9 percent month-on-month recovery from September 2025 (16,354 units).
The market dynamics are being shaped by the impact of GST 2.0, which has narrowed the price gap between small Internal Combustion Engine (ICE) vehicles and entry-level EVs. The month also saw continued activity from new entrants like Tesla and Vinfast, joining the existing 14 players.
Tata Motors continues to dominate the Indian EV market, holding a substantial 40 percent share due to its established and expanding portfolio of popular models. However, its market share is under increasing pressure from rapidly accelerating rivals.
Mahindra and JSW MG Motor India posted exceptional triple-digit and high double-digit YoY growth, respectively, rapidly gaining ground. Mahindra’s performance is particularly notable, showcasing the success of its new dedicated electric SUV line-up. Kia’s massive 1,293 percent growth highlights the swift upward mobility possible for newer, yet aggressive, market players. Tata is set to defend its position with the new Sierra EV, a possibility of Safari EV and other EV’s getting a big change over the next three years.
