Commercial vehicle retail sales crossed 1.03 lakh units in September 2026, with all eight listed manufacturers registering year-on-year growth
India’s commercial vehicle retail sales reached 1,03,557 units in September 2026, registering growth of 37.62% over 75,246 units in September 2025. This represents an increase of 28,311 units. Sales also improved sequentially, rising 14.09% over 90,769 units recorded in August 2026.
Tata retained its lead, followed by Mahindra and Ashok Leyland. Together, these three manufacturers accounted for approximately 80% of commercial vehicle retail volumes during September. Diesel remained the dominant fuel, while electric vehicles increased their share compared to a year earlier.
CV Retail Sales September 2026 – YoY Performance
Tata recorded 35,931 units, up 46.96% from 24,449 units in September 2025. Its volume gain of 11,482 units was the largest among manufacturers and contributed around 41% of the segment’s overall year-on-year increase. Tata held a 34.70% market share during September.
Mahindra ranked second with 27,677 units, growing 25.84% over 21,994 units. The company added 5,683 units and accounted for 26.73% of total CV retail sales. Ashok Leyland followed with 19,223 units, an increase of 36.33% over 14,100 units. Its market share stood at 18.56%, with volumes rising by 5,123 units. VECV secured fourth position with 8,309 units, up 25.70% from 6,610 units, giving it an 8.02% share.
Maruti Suzuki registered 4,352 units, growing 29.02% over 3,373 units. Force Motors recorded 2,301 units, up 37.05% from 1,679 units. Their respective market shares stood at 4.20% and 2.22%.
Daimler posted the highest percentage growth among the eight individually listed manufacturers. Its sales increased 62.52% to 2,077 units from 1,278 units, taking its share to 2.01%. SML Mahindra registered 1,286 units, up 39.18% over 924 units. Other manufacturers collectively contributed 2,401 units, compared to 839 units a year earlier.
Month-on-Month Growth Led By Tata
Compared to August 2026, Tata added 5,593 units, registering 18.44% growth over 30,338 units. Its market share increased from 33.42% in August to 34.70% in September.
Mahindra grew 15.33% over 23,998 units, while Ashok Leyland gained 15.46% over 16,649 units. VECV also recorded a double-digit increase, rising 15.63% from 7,186 units. These four manufacturers together added 12,969 units, exceeding the segment’s net monthly gain as declines elsewhere partially offset their growth.
Daimler improved 17.81% over August’s 1,763 units, while Force Motors posted a smaller increase of 1.23% from 2,273 units. Maruti Suzuki declined 1.87% from 4,435 units, and SML Mahindra fell 3.74% from 1,336 units. Other manufacturers collectively recorded a 13.97% decline, down from 2,791 units in August.
Diesel Holds 80.76% Share, EVs Gain Year-on-Year
Diesel vehicles accounted for 80.76% of CV retail sales in September 2026. This was higher than August’s 78.77%, but below the 82.19% share recorded in September 2025. CNG/LPG vehicles held a 12.07% share, compared to 12.87% in August and 11.45% a year earlier. Petrol/ethanol vehicles accounted for 3.11%, down from 3.15% month-on-month and 4.14% year-on-year.
Electric commercial vehicles increased their share to 4.04% from 2.16% in September 2025, a gain of 1.88 percentage points. However, their share eased from 5.18% in August 2026. Hybrids remained a small part of the market at 0.02%.
