The electric vehicle (EV) market is heating up, making this an ideal time to consider purchasing your next car. As the EV market matures, automakers are rolling out compelling end-of-March discounts to attract buyers and boost deliveries before the financial year closes. Leading manufacturers like Tata Motors and Mahindra & Mahindra are leading the charge with attractive incentives designed to drive sales and accelerate the adoption of electric mobility.
Mahindra & Mahindra has introduced a “Special March” promotion, offering up to ₹2.4 lakh off on its electric SUVs—the XEV 9e and BE 6. For select variants, the total incentives can soar to ₹2.95 lakh. These benefits include special March discounts, corporate offers, exchange bonuses, and loyalty incentives, catering to a wide range of customer needs and preferences.
Tata Motors, the segment leader, is not lagging behind. The automaker is providing cumulative benefits of up to ₹3.8 lakh on select electric models and variants. The actual benefit a customer receives depends on the chosen EV model, variant, and eligibility criteria. Tata’s incentives include a cash benefit known as a green bonus, along with exchange or scrappage benefits, loyalty bonuses, and corporate offers—tailored to different customer categories and models.
These steep discounts are primarily focused on top-end variants and the current year’s 2025 models, which usually carry a higher price tag. Price adjustments were necessary to stimulate demand and increase sales volumes for these premium trims. Entry-level variants, however, see much smaller incentives—around ₹50,000.
The aggressive discounting strategy underscores Tata and Mahindra’s efforts to rapidly scale up their presence in the electric passenger vehicle segment amid fierce competition. Industry data reveals significant growth in EV sales. Tata Motors, the market leader, has sold 70,946 EVs in FY26, up from 57,968 units in FY25. JSW MG Motor has seen an impressive rise, selling 48,417 units in FY26 compared to 30,554 units the previous year. Mahindra has sold 35,717 electric passenger vehicles in FY26, a more than fourfold increase from 8,431 units in FY25, driven by strong demand for its new-generation electric SUVs.
Despite these numbers, electric passenger vehicles still represent only about 3.5% of the country’s overall car sales. To expand adoption, automakers are relying on new product launches, strategic pricing, and generous incentives.
Industry analysts suggest that while these incentives are designed to boost short-term sales, they might also indicate softening underlying demand. An executive from a rival OEM noted, “These incentives indicate companies are trying to boost volumes through discounts and stimulate demand in the near term, suggesting underlying demand may be softening.”
However, another executive from one of the discounting OEMs clarified that such offers are standard in the final weeks of the financial year. Automakers aim to increase registrations and clear dealer inventory before the March 31 deadline. The level of discounts varies by model and variant, with higher benefits typically offered on slower-selling trims or 2025-manufactured vehicles. In contrast, more popular variants attract moderate incentives.
With these substantial incentives, now is an excellent time to explore your electric vehicle options. Whether you’re eyeing a Mahindra XEV 9e, BE 6, or a Tata electric model, the end-of-March promotions offer significant savings and present a golden opportunity to make the switch to sustainable mobility.