Tata, Mahindra Lead December 2025 CV Sales

India’s commercial vehicle market witnessed robust growth in December 2025, with Tata Motors and Mahindra & Mahindra together accounting for more than 60% of total retail sales, according to the latest report by the Federation of Automobile Dealers Associations (FADA).

Tata Motors Commercial Vehicles continued to lead the market, selling 29,560 units in December 2025. This marked a 21.5% increase from 24,327 units in the same month of 2024. Despite a slight dip in market share from 36.23% to 35.33%, Tata retained its position as the largest player in India’s commercial vehicle segment.

Mahindra & Mahindra strengthened its presence as the second-largest CV manufacturer, recording retail sales of 22,766 units in December 2025. This represented a 20.3% YoY growth over 18,917 units sold in December 2024. The brand’s market share slightly declined from 28.17% to 27.21%, yet it maintained its strong foothold in the domestic market.

Ashok Leyland emerged as the third-largest player, posting a remarkable 29.7% YoY increase in retail sales. The company sold 15,238 units in December 2025 compared to 11,745 units in December 2024, holding an 18.21% market share.

Other notable performers included VE Commercial Vehicles, which saw its sales rise by 46.6% YoY, reaching 6,737 units and increasing its market share to 8.05%. Maruti Suzuki also reported steady growth, selling 4,004 units in December 2025, up 12.8% from 3,550 units a year earlier.

Force Motors and BharatBenz recorded gains of 26.0% and 11.3% YoY, selling 1,613 and 1,780 units respectively, while SML Isuzu posted a 42.5% growth, selling 918 units in December 2025. The market share of SML Isuzu rose modestly from 0.96% to 1.10%. Other CV manufacturers combined increased sales from 488 units in December 2024 to 1,050 units in December 2025.

Overall, India’s commercial vehicle sector closed 2025 on a strong note, with total retail sales reaching 83,666 units in December, up 24.6% from 67,145 units in December 2024. Growth was recorded across all categories: LCVs rose 22.45%, MCVs surged 52.10%, and HCVs increased by 23.43%.

FADA’s report highlights the sustained demand for goods movement and commercial transport services, which fueled strong sales momentum in the final month of 2025. Tata, Mahindra, and Ashok Leyland remain the dominant forces shaping the future of India’s commercial vehicle industry.