VFACTS March 2026: EV sales surge to record market share in March as demand accelerates

Summary: Electric vehicle sales surged to a record 14.6 per cent market share in March 2026, doubling year-on-year to 15,839 units, though overall vehicle sales declined 3.3 per cent. Industry leaders caution against viewing this as a permanent shift, citing Middle East fuel disruptions and tax concessions as temporary influences.

Brands mentioned: Toyota, Kia, BYD, Mazda, Ford, Nissan, Mitsubishi, Hyundai