FADA CV Retail Sales September 2026: Commercial Vehicle Sales Jump 37.62% YoY to 1.03 Lakh Units; Tata Motors Leads

Key Highlights

• Commercial vehicle retail sales reached 1,03,557 units in September 2026.

• CV sales increased 14.09% MoM and 37.62% YoY.

• LCVs remained the largest segment with 62,398 units.

• HCV sales recorded the strongest segment growth at 21.28% MoM and 46.22% YoY.

• Tata Motors led the market with 34.70% share, followed by Mahindra & Mahindra at 26.73%.

India’s commercial vehicle (CV) retail market recorded strong growth in September 2026, according to the latest data from FADA Research. Total CV retail sales stood at 1,03,557 units, compared with 90,769 units in August 2026 and 75,246 units in September 2025.

The market registered a healthy 14.09% month-on-month (MoM) growth and a strong 37.62% year-on-year (YoY) increase. The September performance reflects robust demand across light, medium and heavy commercial vehicle segments.

Also Read: FADA CV Retail Sales July 2026: Commercial Vehicle Sales Rise 24% YoY to 99,666 Units; Tata Motors Leads with 34.85% Market Share

Overall CV Market Performance - September 2026

Commercial vehicle retail sales increased from 90,769 units in August to 1,03,557 units in September 2026. Compared with 75,246 units sold in September last year, the market added more than 28,000 units on a yearly basis. The growth was broad-based, with LCV, MCV and HCV segments all registering positive YoY growth. HCVs recorded the fastest monthly and yearly growth among the major categories.

Category-Wise CV Sales Performance - September 2026

Segment-Wise Market Analysis

Light Commercial Vehicles (LCV)

The LCV segment continued to dominate India's commercial vehicle market with 62,398 retail units sold in September 2026. Sales increased from 55,972 units in August, resulting in 11.48% MoM growth. Compared with 46,519 units sold in September 2025, the segment grew by 34.13% YoY. The strong performance highlights continued demand for small and light commercial vehicles used in last-mile delivery, urban logistics, e-commerce, distribution and other transportation applications.

Medium Commercial Vehicles (MCV)

The MCV segment recorded 8,789 units in September 2026, compared with 8,092 units in August and 6,561 units in September 2025.

This translated into 8.61% MoM growth and 33.96% YoY growth. The steady increase indicates improving demand for medium-duty vehicles used for regional cargo transportation and commercial fleet operations.

Heavy Commercial Vehicles (HCV)

HCVs emerged as the strongest-performing major category during September 2026. The segment recorded 32,310 units, up from 26,640 units in August 2026. This represents a substantial 21.28% MoM increase. On a yearly basis, HCV sales increased from 22,097 units in September 2025 to 32,310 units, marking 46.22% YoY growth. The strong HCV performance points to healthy demand for heavy trucks and other vehicles supporting long-haul transportation, infrastructure, construction, mining and freight movement.

Others

The Others category accounted for just 60 units in September 2026. Sales declined 7.69% MoM from 65 units in August and fell 13.04% YoY from 69 units in September 2025. The category continues to represent only a very small portion of the overall CV market.

OEM-Wise Market Share - September 2026

OEM Performance Overview

Tata Motors

Tata Motors retained its position as India's largest commercial vehicle manufacturer in the September 2026 retail market. The company recorded 35,931 units, giving it a 34.70% market share. Its sales increased substantially from 24,449 units in September 2025. Tata Motors also improved its market share from 32.49% last year to 34.70%, strengthening its position at the top of the CV market.

Also Read: Tata Motors CV Sales Jump 42.4% in September 2026

Mahindra & Mahindra

Mahindra & Mahindra remained the second-largest CV OEM with 27,677 units and a 26.73% market share. Its September 2026 sales were higher than the 21,994 units recorded in the same month last year. However, its overall market share declined from 29.23% in September 2025 to 26.73%. The company's total includes 25,669 units from Mahindra & Mahindra Ltd and 2,008 units from Mahindra Last Mile Mobility Ltd.

Also Read: Mahindra CV Sales Jump 18% to 46,763 Units in September 2026, 3-Wheelers Lead Growth

Ashok Leyland

Ashok Leyland secured the third position with 19,223 retail units and an 18.56% market share. The company improved its sales significantly from 14,100 units in September 2025. However, its market share was marginally lower than the 18.74% recorded a year earlier.

Also Read: Ashok Leyland September 2026 Sales: 21,105 CVs Sold, Up 30.17% YoY

VE Commercial Vehicles

VE Commercial Vehicles reported 8,309 units in September 2026, accounting for an 8.02% market share. Sales increased from 6,610 units in September 2025, while market share declined from 8.78% a year earlier. The September figure includes 8,238 units from VE Commercial Vehicles Ltd and 71 units from its Volvo Buses division.

Also Read: VECV Sales September 2026: Eicher CV Sales Jump 51.6%, Total Sales Near 50% Growth

Maruti Suzuki India

Maruti Suzuki India recorded 4,352 commercial vehicle retail sales in September 2026, giving it a 4.20% market share. The company sold 3,373 units in September 2025. Despite the increase in sales volume, its market share declined from 4.48% to 4.20%.

Force Motors

Force Motors registered 2,301 units in September 2026 with a 2.22% market share. Sales increased from 1,679 units in September 2025, while its market share remained broadly stable, compared with 2.23% a year earlier.

Daimler India Commercial Vehicles

Daimler India Commercial Vehicles recorded 2,077 units and a 2.01% market share in September 2026. The company posted strong growth from 1,278 units in September 2025, while its market share also increased from 1.70%.

SML Mahindra

SML Mahindra sold 1,286 units during September 2026, securing a 1.24% market share. The company increased sales from 924 units in September 2025, with its market share also marginally improving from 1.23%.

Other OEMs

Other commercial vehicle manufacturers collectively accounted for 2,401 units, representing 2.32% of the total market. This compares with 839 units and a 1.12% market share in September 2025.

Market Outlook

The September 2026 FADA retail data shows that India's commercial vehicle market entered the festive and peak business period on a strong note. Total CV sales crossed the one-lakh-unit mark, while every major category recorded double-digit YoY growth. The HCV segment stood out with 46.22% YoY growth, while LCVs continued to contribute the largest volume to the market. MCV sales also maintained healthy growth during the month.

At the OEM level, Tata Motors strengthened its leadership by increasing its market share to 34.70%. Mahindra & Mahindra remained firmly in second place, followed by Ashok Leyland and VE Commercial Vehicles. The continued growth in freight movement, logistics, infrastructure, construction and fleet activity could support commercial vehicle demand in the coming months.

Also Read: FADA Tractor Retail Market Share September 2026: Mahindra Group Leads as Sales Jump 13.7%

CMV360 Says

India's commercial vehicle retail market delivered a strong performance in September 2026, with sales reaching 1,03,557 units, marking 14.09% MoM and 37.62% YoY growth. LCVs remained the volume leader, but the biggest growth story came from HCVs, which posted a sharp 46.22% YoY increase. At the OEM level, Tata Motors strengthened its leadership with a 34.70% market share, while Mahindra & Mahindra and Ashok Leyland retained the second and third positions. Overall, the September numbers point towards healthy demand across India's transportation, logistics, infrastructure and freight sectors.