New Delhi

India’s Electric Passenger Vehicle (EPV) market surged an impressive 102 per cent year-on-year (YoY) in Q2 2026, significantly outpacing the broader passenger vehicle market’s 26 per cent growth, a report said on Thursday.

The report from CyberMedia Research (CMR) said sharp acceleration was driven by an expanded product portfolio, improved vehicle availability, and compelling total-cost-of-ownership economics. The firm forecasted that EVs will make up 7–8 per cent of India’s PV market by end-2026, while connected vehicles are projected to capture 40–45 per cent of market share

“India’s passenger vehicle market is poised for steady growth in H2 2026, supported by the festive season, a strong pipeline of new launches, and sustained demand for SUVs and feature rich vehicles,” said Amit Sharma, Senior Analyst – Smart Mobility Practice, CyberMedia Research (CMR).

New model launches from OEMs widened consumer choice, while elevated petrol prices amplified the running-cost advantage of EVs and these factors pulled many ICE buyers into the electric segment. “Electrification, safety, and digitalisation are rapidly shifting from niche features to mainstream growth drivers, and connected vehicles are leading this transformation,” said Shipra Sinha, Senior Analyst – Smart Mobility Practice, CyberMedia Research (CMR).

Sinha said that SUVs captured a commanding 58 per cent market share, rising 33 per cent YoY, driven by superior ground clearance, aspirational road presence, and the concentration of advanced technology and safety innovations in SUV lineups.