CMV360 Weekly Wrap-Up | 23rd June–5th July 2025: Mahindra Shows Strong Growth, Tata & Bajaj Boost Exports, SWITCH Tops E-Bus Sales, First Electric Tractor Launched, and Tractor Sales Rise Across Brands

Welcome to the CMV360 Weekly Wrap-Up for 23rd June to 5th July 2025 – your quick guide to the top developments in commercial vehicles, electric mobility, and agriculture.

This week, Mahindra Trucks & Buses hit key financial goals and outlined bold growth plans. Tata Motors and Bajaj Auto reported strong export performance, while SML Isuzu and VECV showed steady progress. In the EV space, SWITCH Mobility led e-bus sales, and MLMM topped electric 3-wheelers.

On the agriculture front, Mahindra, TAFE, and Sonalika posted impressive tractor sales, and Maharashtra launched India’s first electric tractor to promote green farming.

Let’s explore all the major updates shaping India’s mobility and agri future.

Mahindra Trucks & Buses Achieves Key Financial Milestone in FY2025, Targets Stronger Growth Ahead

​Mahindra Trucks & Buses achieved EBITDA-positive results and cash break-even in FY2025 despite a 1% volume dip in a declining market. It launched new models like Furio 8 and BS6 OBD II variants and acquired a 58.96% stake in SML Isuzu to boost its presence in the >3.5T segment. With a current 3% market share, Mahindra aims to grow it to 10–12% by FY2031. The company is on track to become a $2–3 billion CV business through strategic growth and product expansion.

Mahindra Sales Report June 2025: Experienced Growth of 8% in Domestic CV Sales

​Mahindra recorded an 8% growth in domestic CV sales in June 2025, reaching 29,029 units. Three-wheeler sales rose by 37%, and the 2T–3.5T LCV segment grew 4%. However, LCVs below 2T saw a 20% decline. Export sales rose slightly by 1%, with 2,634 units shipped. The overall figures reflect Mahindra’s strong market presence and product demand across key segments, especially in three-wheelers and mid-range LCVs. Despite a dip in the sub-2T segment, Mahindra maintained stable performance in both domestic and export markets.

SML Isuzu Sales Rise in June 2025, Cargo Vehicles Lead the Way

​SML Isuzu sold 1,871 vehicles in June 2025, up 6.3% from last year. Cargo vehicle sales surged by 41.6% to 480 units, while passenger vehicle sales dipped 2.1% to 1,391 units. In Q1 FY2025–26, the company recorded 12.5% year-on-year growth with 4,926 total units sold. Cargo led with a 46.3% increase, and passenger vehicles rose 4%. The strong start signals growing demand, especially in goods transport. Despite a slight dip in passenger sales, SML Isuzu maintains positive market momentum.

Tata Motors Registered 30,238 Commercial Vehicle Sales in June 2025

​Tata Motors reported a 9% year-on-year decline in domestic commercial vehicle sales for June 2025, selling 27,936 units. HCV truck sales dropped 17%, and SCV cargo and pickup sales fell 9%. ILMCV trucks dipped 3%, while passenger carrier sales remained stable. However, international CV exports rose sharply by 70% to 2,302 units. Total CV sales, including exports, declined 5% to 30,238 units. Despite the domestic slowdown, strong export growth highlights Tata Motors’ global market strength and strategic international focus.

Bajaj Auto’s June 2025 Sales: Domestic Sales Drop, Export Sales Increased Significantly

​Bajaj Auto reported a 1% overall sales growth in June 2025, with total sales reaching 3,60,806 units. Domestic sales dropped 13%, mainly due to a 16% fall in two-wheeler demand, while exports surged 21%. Two-wheeler exports rose 18%, and commercial vehicle exports jumped 49%, driving 14% overall CV growth. Domestic CV sales stayed flat. Quarterly data showed similar trends, with exports rising 16% despite an 8% dip in domestic sales. Bajaj’s export strategy is working, but local demand remains a concern.

Atul Auto Reports Strong Growth in IC Engine Three-Wheelers, Electric Sales Dip Sharply

​Atul Auto sold 2,705 vehicles in June 2025, marking a modest 2.93% growth. Domestic IC engine vehicle sales rose 19.03% to 1,889 units, while electric vehicle sales dropped sharply—L3 EVs fell 32.71% and L5 EVs declined 28.99%. Overall domestic sales remained flat at 2,511 units. For Q1 FY2025–26, IC engine sales grew 7.08%, and total sales rose 4.22%. The data reflects strong rural demand for traditional vehicles, while EV adoption continues to face infrastructure and cost-related challenges, especially in non-urban markets.

VECV Sales Report June 2025: 5,449 Units Sold; Sales Grew by 1.7%

​VECV registered 1.7% sales growth in June 2025 with 5,449 units sold. Eicher’s domestic truck sales rose 0.6%, led by a 2.1% increase in LMD trucks, while HD truck sales fell 1.8%. Exports grew 1.6%, though HD exports dropped 69.4%. Volvo Trucks and Buses posted 50% growth. Despite challenges in heavy-duty exports, strong Volvo performance and stable LMD demand reflect steady momentum for VECV.

Ashok Leyland Sales Report June 2025: Sold 12,161 units; Report 5.80% Decline

​Ashok Leyland’s total sales declined 5.8% in June 2025 with 12,161 units sold. Domestic CV sales dropped 6% due to a 12% fall in M&HCVs, while LCVs grew 2%. Export sales rose 2.82%, driven by 43% growth in M&HCV exports, despite an 11% drop in LCV exports. The company saw mixed results and will need to focus on reviving domestic demand while sustaining export growth.

Electric Buses Sales Report June 2025: SWITCH Mobility Emerges as Top Choice for E-Buses

​Electric bus sales in June 2025 rose to 529 units from 338 in May. SWITCH Mobility led with 126 units (23.8% share), followed by JBM Auto (111 units) and Pinnacle Mobility (108 units). Olectra Greentech sold 80 units. PMI Electro Mobility saw a sharp decline, selling 57 units. Tata Motors rebounded with 34 sales. The surge signals growing demand, though PMI’s drop reflects ongoing market challenges.

Electric 3W L5 Sales Report June 2025: MLMM Emerges as Top Choice

​Passenger E3W (L5) sales rose to 16,333 units in June 2025, led by MLMM (6,323 units) and Bajaj Auto (6,219 units). TVS and Piaggio saw modest gains, while cargo E3W sales dropped to 2,015 units. Mahindra, Euler, and Bajaj faced declines in the cargo segment. The growth in passenger sales highlights rising EV adoption, though cargo sales indicate infrastructure and policy challenges in the commercial EV sector.

Tata Motors Targets ₹6,500 Crore Revenue from PLI Scheme for Electric Vehicles

​Tata Motors aims to earn ₹6,500 crore through the PLI scheme by FY28, ₹4,000 crore from EV passenger vehicles, and ₹2,500 crore from commercial EVs. With monthly incentives of ₹40 crore and new models coming, benefits may reach ₹700 crore/year by FY26. Despite a dip to 35% EV market share, Tata plans a strong comeback to 50% with expanded offerings.

Electric Three-wheeler Sales Report June 2025: YC Electric and Dilli Electric emerge as Top Choice

​E-rickshaw sales dropped to 35,365 units in June 2025, down from May and June 2024. In contrast, e-cart sales rose year-on-year to 6,846 units despite a monthly dip. YC Electric led in e-rickshaws, while Atul Auto saw major e-cart growth. The shift highlights the growing demand for electric cargo transport over passenger use in urban areas.

Escorts Kubota Plans to Become India’s No. 2 Tractor Brand with New Launches and Global Expansion

​Escorts Kubota Ltd (EKL) aims to become India’s second-largest tractor brand, up from its current fourth position with a 12–13% market share. The company plans to launch new tractors under Farmtrac, Powertrac, and Kubota brands over the next 4–5 years. EKL also aims to boost exports from 5% to 15% by leveraging Kubota’s global network. With 1,500+ dealers and plans to expand further, EKL is blending affordability with quality to strengthen its domestic position and global footprint by 2031.

Maharashtra Launches First Electric Tractor to Cut Farming Costs and Pollution

​Maharashtra launched India’s first 45HP electric tractor in Thane, aiming to cut farming costs and promote green energy. The e-tractor costs just ₹300 to plough one acre, compared to ₹1,500 for diesel. Under the EV Policy 2025, farmers can get up to ₹1.5 lakh in subsidies and may also benefit from toll exemptions and interest-free loans. With 60–70% lower operating costs, this move supports the government’s goal of 20–30% EV use by 2030 and cleaner, more affordable farming.

Swaraj Tractors Wins Bhamashah Award for Rural Development Efforts in Rajasthan

​Swaraj Tractors has received the Bhamashah Award from the Rajasthan Government for its impactful rural development work in Jodhpur during FY 2024–25. The company installed rainwater harvesting systems in 57 schools, supplying over 5.7 million litres of clean water. Its initiatives benefited 48,000 people, 37,000 livestock, and 3,000 hectares of farmland. Partnering with Sarv Mangal Gramin Vikas Sansthan, Swaraj focused on education, water access, and livestock support across 78 villages, showcasing its commitment to sustainable and inclusive rural progress.

Escorts Kubota Tractor Sales Report June 2025: Domestic Down 0.1% to 10,997 Units, Exports Up 114.1% to 501 Units

​Escorts Kubota sold 11,498 tractors in June 2025, marking a 2.2% year-on-year growth. Domestic sales slightly declined by 0.1% to 10,997 units, while exports surged 114.1% to 501 units. For Q1 FY26 (April–June), total sales stood at 30,581 units, up 0.7% from last year. Domestic sales dipped 1.9%, but exports rose 80.3% to 1,733 units. Backed by timely monsoons, improved rural sentiment, and increased MSPs, EKL expects stable domestic demand and strong export momentum in the coming months.

VST Tractor Sales Report June 2025: Sold 7,149 Units, Power Tillers Up 112.7%, Tractors Down 14.4%

​VST Tillers Tractors Ltd recorded a 92.6% rise in total sales for June 2025, selling 7,149 units compared to 3,710 in June 2024. Power tiller sales surged 112.7% to 6,651 units, while tractor sales declined 14.4% to 498 units. Year-to-date sales also grew 75.5%, with 12,955 units sold between April–June 2025. Power tillers led the growth with 11,701 units, up 92.2% YTD, while tractor sales dipped 3% to 1,254 units. VST continues to lead in the power tiller segment.

Mahindra Tractors Sales Report June 2025: Sold 51,769 Units, Records 13% Sales Growth

​Mahindra & Mahindra's Farm Equipment Sector (FES) recorded strong growth in June 2025, selling 53,392 tractors—a 13% increase over June 2024. Domestic sales rose 13% to 51,769 units, while exports also grew 13% to 1,623 units. For April–June FY26, Mahindra’s total sales reached 1,34,089 units, up 10% YoY. The company attributes the growth to a strong Rabi harvest, early monsoon, and rising rural demand, reinforcing its leadership in the Indian tractor market.

TAFE Sets Ambitious Target of 2 Lakh Tractor Sales for FY26

​Tractors and Farm Equipment Ltd (TAFE) is set to sell over 2 lakh tractors in FY26, up from 1.75 lakh in FY25. Backed by a 12.4% sales growth in May 2025 and a robust product lineup—including new transplanters and harvesters—TAFE also secured exclusive Massey Ferguson brand rights in India. The company plans to expand Deutz engine output to 1.3 lakh units by FY28, reinforcing its leadership in India's agricultural machinery market.

Sonalika Achieves Record Q1 Sales with 43,603 Tractors in Apr-Jun 2025

​Sonalika Tractors has achieved its highest-ever Q1 sales, recording 43,603 units sold from April to June 2025. This includes its best-ever performance in June, backed by strong Kharif preparations and double-digit crop sowing growth. Positive monsoon conditions and Sonalika’s farmer-focused approach continue to drive demand across India.

Domestic Tractor Sales Report June 2025: Market Grows 10.49% with 1,12,678 Units Sold

​India's tractor industry reported a strong performance in June 2025 with total domestic sales reaching 1,12,678 units, marking a 10.49% year-on-year growth over June 2024. Mahindra led the market, while TAFE and New Holland also showed robust gains. However, brands like Escorts Kubota, Sonalika, and Preet witnessed a drop in market share. Positive rural sentiment, favorable monsoon, and government support continue to drive demand.

Also Read: CMV360 Weekly Wrap-Up | 22nd–28th June 2025: Tata Ace Pro Launched, Montra SUPER CARGO Debuts, NueGo Expands Routes, Mahindra Bolero CNG Unveiled, and EV & Tractor Innovations Lead the Headlines

CMV360 Says

This week highlighted major progress in electric vehicles, commercial transport, and farming equipment. From rising exports and strong tractor sales to the launch of India’s first electric tractor, each update shows the country’s move towards cleaner, smarter, and more affordable solutions. CMV360 will continue to bring you the latest updates driving growth for businesses, farmers, and the mobility sector.