GlobeVerge
INDIA
India’s passenger EV market grows 102 per cent in Q2
India’s passenger EV market surged 102 per cent year-on-year in Q2 2026, far outpacing overall passenger vehicle growth of 26 per cent, a CMR report said. SUVs, connected vehicles, digital features and rising fuel costs drove the broader shift towards electrification
GlobeSignal-AIhigh certainty
- Why it matters
- EV adoption is rising four times faster than overall car sales, signalling a structural shift in India's transport market toward electric vehicles.
- Most affected
- EV manufacturers — Market demand roughly doubles, creating growth opportunity beyond overall vehicle market expansion.
Fuel and oil suppliers — Rising fuel costs and EV adoption reduce demand for petrol and diesel vehicle sales. - Likely next
- Whether EV's share of total passenger vehicle sales continues accelerating in subsequent quarters.
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- India’s Passenger EV Market Surges 102% In Q2, Driven By Strong Electric Vehicle Demand