CV Sales March 2026

India’s commercial vehicle (CV) retail market recorded robust growth in March 2026, driven by ongoing infrastructure expansion, increased construction activities, and strengthening rural demand. According to the Federation of Automobile Dealers Associations (FADA), total CV retail sales reached 1,02,536 units, marking a solid 15.12% year-on-year increase compared to 89,067 units in March 2025. On a month-on-month basis, sales also saw a steady rise of 1.70% from 1,00,820 units in February 2026, highlighting consistent market momentum.

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CV Segment wise growth -

Segment-wise, Medium Commercial Vehicles (MCV) led the growth chart with a strong 25.50% increase, emerging as the fastest-growing category. Heavy Commercial Vehicles (HCV) followed with an impressive 18.55% rise, while Light Commercial Vehicles (LCV)—the largest segment by volume—registered a steady growth of 11.99%, maintaining its dominant market share.

Fuel-wise, diesel remained the dominant choice in the commercial vehicle segment, capturing an 83.01% market share. CNG/LPG-powered vehicles held a notable 11.20% share, while petrol/ethanol models accounted for 3.35%. Electric commercial vehicles (EVs) continued to gain traction with a 2.40% contribution, whereas hybrid vehicles represented a minimal 0.03% of the total sales volume.

CV Retail Sales in March 2026 -

Tata Motors retained its leadership in the commercial vehicle segment, reporting sales of 36,380 units in March 2026, up from 30,735 units in the same period last year. The company held a dominant 35.48% market share, continuing to stay well ahead of its competitors.

Mahindra & Mahindra ranked second with 26,898 units sold, compared to 24,168 units in March 2025. However, its market share saw a slight dip to 26.23%, down from 27.13% a year earlier.

Ashok Leyland reported sales of 19,384 units in March 2026, up from 16,616 units a year earlier, raising its market share to 18.90%.

VE Commercial Vehicles recorded 8,417 units, marking a strong year-on-year increase from 6,877 units.

Maruti Suzuki also registered growth, with sales reaching 4,561 units compared to 3,949 units in March 2025.

Among other players, Force Motors reported a decline in sales, dropping to 2,142 units from 2,987 units in March 2025. Daimler Truck recorded sales of 2,130 units during the month, while SML Isuzu posted 1,368 units.

Meanwhile, other manufacturers collectively contributed 1,256 units, showing a notable increase compared to 646 units in the same period last year.

CV Retail Sales FY 2026 -

For the full financial year FY2026, India’s commercial vehicle (CV) retail market delivered strong performance, with total sales reaching 10,60,906 units—an 11.74% increase over 9,49,406 units recorded in FY2025.

Segment-wise, Light Commercial Vehicles (LCV) led in volume growth, rising 12.50% to 6,38,323 units. Medium Commercial Vehicles (MCV) posted the highest growth rate, surging 22.98% to 87,676 units, while Heavy Commercial Vehicles (HCV) recorded a steady 7.89% increase, reaching 3,34,227 units during the fiscal year.

Among OEMs, Tata Motors led the market with total sales of 3,62,428 units in FY2026. It was followed by Mahindra & Mahindra at 2,98,237 units and Ashok Leyland at 1,89,567 units.

VE Commercial Vehicles recorded 88,184 units during the year, while Maruti Suzuki reported 49,538 units.

Other key players including Force Motors, Daimler Truck, and SML Isuzu also registered growth, posting 25,066 units, 22,133 units, and 14,451 units respectively.

Meanwhile, other manufacturers together contributed a combined total of 11,292 units to the overall CV sales in FY2026.