Budget Cars Under ₹15 Lakh Launching in 2026

Launches

Rohit Sharma

20 hours ago

5 min read

The Indian automobile market in 2026 is set to witness a major wave of new car launches, especially in the budget segment. With rising fuel prices, increasing demand for electric vehicles, and evolving customer expectations, manufacturers are focusing heavily on affordable cars with modern features.

Cars priced under ₹15 lakh remain the most popular category in India, as they offer the perfect balance between affordability, performance, and practicality. In 2026, several exciting models are expected to launch in this price bracket, including compact EVs, SUVs, MPVs, and updated versions of popular models.

This blog covers the most promising budget cars under ₹15 lakh launching in 2026, along with expected prices, segments, and key highlights.

Why Budget Cars Under ₹15 Lakh Are Important in India

The ₹15 lakh segment dominates the Indian car market because it caters to middle-class families, first-time buyers, and urban commuters. Buyers in this range expect fuel efficiency, safety features, modern infotainment, and low maintenance costs.

In 2026, this segment will become even more competitive due to:

Growing demand for affordable electric vehicles
Rising popularity of compact SUVs and MPVs
Increasing focus on safety and technology features
Better financing and ownership options

Renault Duster (3rd Generation)

Expected Launch: January 26, 2026
Estimated Price: ₹10 – ₹15 Lakh
Segment: Mid-size SUV

The third-generation Renault Duster is one of the most awaited budget SUVs in India. Known for its rugged build and comfortable ride quality, the new Duster is expected to come with updated design, improved interiors, and advanced features.

It will target buyers looking for a strong, practical SUV under ₹15 lakh, especially those who want a balance between city comfort and highway performance.

Key Expectations

New exterior design and premium interiors
Petrol and hybrid engine options (expected)
Improved safety and infotainment features

Skoda Kushaq Facelift (Budget Variants)

Expected Launch: January 29, 2026
Estimated Price: ₹11 – ₹15 Lakh (base and mid variants)
Segment: SUV

The Skoda Kushaq Facelift is expected to refresh the popular compact SUV with updated styling and added features. While top variants may cross ₹15 lakh, base and mid variants will remain in the budget category.

This model will appeal to buyers who want European build quality, strong performance, and premium driving dynamics within a reasonable budget.

Maruti WagonR Electric

Expected Launch: February 15, 2026
Estimated Price: Around ₹8.5 Lakh
Segment: Compact Electric Car

The Maruti WagonR Electric could become one of the most affordable electric cars in India. Designed for urban usage, it will focus on practicality, low running costs, and ease of ownership.

This model is expected to attract first-time EV buyers and city commuters looking for a budget-friendly electric alternative.

Ideal For

Urban users looking for a low-cost electric car with simple features and high practicality.

Maruti Grand Vitara (3-Row) – Base Variant

Expected Launch: February 15, 2026
Estimated Price: Around ₹14 Lakh (base variant)
Segment: 7-Seater SUV

Maruti Suzuki is expected to introduce a three-row version of the Grand Vitara. While higher variants may exceed ₹15 lakh, the base variant is likely to fall within the budget segment.

This model will target families looking for an affordable 7-seater SUV with Maruti’s reliability and service network.

Leapmotor T03

Expected Launch: February 15, 2026
Estimated Price: ₹8 – ₹12 Lakh
Segment: Compact Electric Car

The Leapmotor T03 is expected to strengthen the affordable EV segment in India. With compact dimensions and efficient battery performance, it will be positioned as a city-focused electric car.

It will compete with entry-level EVs and petrol hatchbacks in the budget segment.

Volkswagen Tera

Expected Launch: February 15, 2026
Estimated Price: ₹8 – ₹12 Lakh
Segment: Sub-Compact SUV

Volkswagen Tera is expected to be a new sub-compact SUV designed for the Indian market. With modern design, solid build quality, and competitive pricing, it will target buyers looking for a stylish SUV under ₹15 lakh.

This model will compete with popular sub-compact SUVs in India.

Nissan Gravite

Expected Launch: February 25, 2026
Estimated Price: ₹6 – ₹9 Lakh
Segment: Compact MPV

The Nissan Gravite is expected to be an affordable compact MPV designed for budget-conscious families. With spacious interiors and practical design, it could become a strong alternative to budget MPVs and hatchbacks.

This model will appeal to buyers who prioritize space and value for money.

Hyundai Inster (Budget Variants)

Expected Launch: June 15, 2026
Estimated Price: ₹10 – ₹12 Lakh
Segment: Electric SUV

Hyundai Inster is expected to enter India as a compact electric SUV. While premium variants may cross ₹15 lakh, base variants are likely to remain within the budget segment.

This model will target buyers who want a compact SUV feel with electric mobility benefits.

Renault Bigster (Base Variant)

Expected Launch: June 2026
Estimated Price: ₹12 – ₹15 Lakh (base variant)
Segment: 7-Seater SUV

The Renault Bigster is expected to be a larger SUV positioned above the Duster. While higher variants may exceed ₹15 lakh, the base variant could fall within the budget range.

It will target buyers looking for an affordable large SUV with modern features.

Segment-Wise Overview of Budget Cars in 2026

The budget segment in 2026 will see strong representation across multiple categories:

Compact Electric Cars: WagonR Electric, Leapmotor T03
Sub-Compact SUVs: Volkswagen Tera
Mid-Size SUVs: Renault Duster, Skoda Kushaq Facelift
7-Seater SUVs: Grand Vitara 3-Row, Renault Bigster
Compact MPVs: Nissan Gravite

This diversity indicates that buyers will have more choices than ever before in the under ₹15 lakh category.

Final Thoughts

The year 2026 is shaping up to be extremely promising for budget car buyers in India. With multiple launches across electric, SUV, and MPV segments, customers will benefit from better features, improved safety, and modern designs at affordable prices.

If you are planning to buy a car under ₹15 lakh in 2026, it will be wise to track these upcoming launches before making a decision. The competition among manufacturers is expected to drive better value, making this one of the best times to invest in a new car.