India Commercial Vehicle Sales Jump 28.9% in February 2026

India’s commercial vehicle market recorded robust growth in February 2026, with retail sales reaching 100,820 units, marking a 28.9% year-on-year increase from 78,219 units in February 2025. The growth is fueled by rising demand in freight transport, infrastructure development, and last-mile logistics operations, supported by government investment in road projects and replacement demand.

Strong Performance by Leading OEMs

February 2026 saw top OEMs post strong double-digit growth in commercial vehicle sales.

Tata Motors Maintains Market Leadership

Tata Motors led the market with 35,900 units sold, up 32.06% YoY from 27,184 units last February. Strong demand for medium and heavy commercial vehicles, driven by infrastructure-led freight movement, supported the performance.

Mahindra & Mahindra Shows Significant Growth

Mahindra & Mahindra Ltd sold 24,995 units (+26.93% YoY), while Mahindra Last Mile Mobility Ltd delivered 2,019 units (+36.79% YoY). The growth reflects robust demand for pickup trucks, small cargo LCVs, and last-mile electric mobility solutions.

Ashok Leyland and VE Commercial Vehicles Deliver Strong Numbers

Ashok Leyland sold 18,261 units (+26.10% YoY), with steady demand for heavy trucks. VE Commercial Vehicles Ltd, including Eicher Trucks & Buses, contributed 8,203 units (+30.07% YoY), driven by intermediate and heavy-duty truck sales.

EV Adoption Rising Among OEMs

Switch Mobility Automotive Ltd reported 358 units (+186.40% YoY), highlighting growing adoption of electric buses and EV commercial vehicles. Other OEMs like Daimler India also posted significant growth (+39.47% YoY), reflecting fleet replacement and increased demand for heavy-duty trucks.

Market Trends Driving Growth

Several factors are supporting India’s commercial vehicle sales growth:

Infrastructure-Led Demand

Ongoing road construction, industrial projects, and government spending on highways, smart cities, and industrial corridors continue to boost medium and heavy commercial vehicle demand.

Expansion of Last-Mile Logistics

E-commerce growth and urban freight requirements are increasing demand for small commercial vehicles, pickups, and last-mile cargo mobility solutions.

Fleet Replacement and Utilisation

Rising replacement demand, improved fleet utilisation, and operational efficiency are contributing to sustained market growth.

Emerging Players and Niche Manufacturers

The ‘Others’ category recorded 983 units (+89.77% YoY), reflecting participation from smaller OEMs and niche players, signaling increasing competition and innovation in the CV market.

Outlook for the Indian Commercial Vehicle Market

With ongoing infrastructure investments, growth in logistics networks, and rising adoption of electric mobility, India’s commercial vehicle market is expected to maintain positive momentum in the coming months. Medium and heavy commercial vehicles, small cargo LCVs, and last-mile electric vehicles are likely to continue driving growth, offering opportunities for both established manufacturers and emerging players.