BYD Overtakes Hyundai in May 2026 as India’s EV Market Hits Record 26K Sales

The Indian electric passenger vehicle (e-PV) market just hit a massive milestone. In May 2026, fueled by back-to-back petrol, diesel, and CNG price hikes, total EV retail sales surged to a record 26,221 units — a massive 80% year-on-year growth.

While market leaders Tata Motors and Mahindra & Mahindra dominated the headlines with their own record-breaking volumes, a quieter but equally significant battle played out further down the charts.

Chinese EV giant BYD officially outperformed Hyundai in the Indian e-PV market for the month.

BYD Hits a New High

BYD India climbed to the 6th position among all 17 e-PV manufacturers last month. The brand registered a record 683 units sold, representing a solid 28% year-on-year growth compared to the 533 units moved in May 2025. This beats their previous all-time best set back in October 2025.

What makes this surge particularly interesting is the pricing context. On May 1, BYD increased prices across its entire portfolio — including the Atto 3, e-Max 7, Seal, and Sealion 7 — by ₹50,000 to ₹1,00,000. Despite these hikes, buyers continued to flock to the showrooms. The anticipation of another announced 1-2% price hike scheduled for July 1 likely motivated many fence-sitters to finalize their purchases before the month ended.

Hyundai Struggles to Find Traction

In stark contrast, Hyundai Motor India is feeling the heat in an increasingly crowded electric SUV market.

Hyundai managed to retail just 454 EVs in May, marking a steep 37% year-on-year decline from the 719 units sold in the same month last year. The drop has severely impacted the Korean automaker's footprint in the EV space, dragging their e-PV market share down to less than 2% (a sharp fall from 5% a year ago).

Currently, Hyundai is grappling with tepid demand for its premium Ioniq 5 and its main volume product, the Creta EV. While Hyundai remains an absolute powerhouse in the traditional combustion-engine market, its EV portfolio is currently struggling to fend off refreshed lineups from domestic leaders and the aggressive push from rivals like BYD.

The Road Ahead

The Indian EV landscape is shifting rapidly. With top players like Tata and Mahindra locking down the bulk of the market, the mid-tier battle is where the most aggressive market-share swings are happening. If May's sales data is any indicator, BYD’s premium-yet-accessible strategy is resonating well, while legacy giants like Hyundai will need to rethink their electric strategy to bounce back in FY2027.