Commercial vehicle (CV) retail sales in India recorded strong growth in March 2026, supported by infrastructure development, rising construction activity and improving rural demand. According to data released by the Federation of Automobile Dealers Association (FADA), total CV retail sales stood at 1,02,536 units, registering a 15.12% year-on-year growth as compared to 89,067 units in March 2025. On a month-on-month (MoM) basis, volumes witnessed a marginal 1.70% growth as compared to 1,00,820 units sold in February 2026.
segment-wise development
Among all segments, medium commercial vehicles (MCVs) recorded the highest growth of 25.50%, followed by heavy commercial vehicles (HCVs) at 18.55%. Light commercial vehicles (LCVs), which have the largest share, grew by 11.99%.
In terms of fuel, diesel continued to dominate with 83.01% share. The share of CNG/LPG vehicles was 11.20%, while petrol/ethanol was 3.35%. Electric CVs contributed 2.40% of the total volume, with hybrids contributing a marginal 0.03%.
CV Retail Sales March 2026
Tata Motors retained its leading position with sales of 36,380 units in March 2026, up from 30,735 units a year ago. The company maintained a strong lead over its competitors and achieved 35.48% market share. Mahindra took the second position with 26,898 units compared to 24,168 units in March 2025. However, its market share declined slightly from 27.13% to 26.23%.
Ashok Leyland reported sales of 19,384 units up from 16,616 units, increasing its market share to 18.90%. VE Commercial Vehicles posted 8,417 units growth from 6,877 units YoY. Maruti Suzuki also saw growth, with 4,561 units sold compared to 3,949 units last year.
Among others, Force Motors sales declined to 2,142 units from 2,987 units. Daimler Trucks recorded 2,130 units, while SML Isuzu posted 1,368 units. Other manufacturers together contributed 1,256 units, up from 646 units in March 2025.
CV Retail Sales FY 2026
For the full financial year FY2026, CV retail sales stood at 10,60,906 units, showing a growth of 11.74% as compared to 9,49,406 units in FY2025. Segment-wise, LCV sales grew 12.50% to 6,38,323 units, while MCV sales grew 22.98% to 87,676 units. HCV volume rose 7.89% to 3,34,227 units.
Among OEMs, Tata Motors led with 3,62,428 units, followed by Mahindra with 2,98,237 units and Ashok Leyland with 1,89,567 units. VE Commercial Vehicles recorded 88,184 units, while Maruti Suzuki recorded 49,538 units. Force Motors, Daimler Trucks and SML Isuzu also recorded growth during the year with 25,066 units, 22,133 units and 14,451 units respectively. Other manufacturers together contributed 11,292 units.
