FADA October 2026 CV Retail Sales: Tata Motors Leads with 34.67% Market Share as Sales Rise 2.29% YoY

Key Highlights

• India's commercial vehicle retail sales reached 1,15,140 units in October 2026.

• Overall CV retail sales increased 11.19% MoM and 2.29% YoY.

• LCVs remained the largest segment with 69,148 units, despite a 9.57% YoY decline.

• HCV sales recorded the strongest growth among major segments, rising 28.95% YoY.

• Tata Motors led the market with 39,914 units and a 34.67% market share.

India's commercial vehicle (CV) retail market recorded total sales of 1,15,140 units in October 2026, according to the latest retail data released by the Federation of Automobile Dealers Associations (FADA). Sales increased by 11.19% compared with 1,03,557 units in September 2026. On a year-on-year (YoY) basis, the market registered a 2.29% increase over 1,12,561 units sold in October 2025.

The October performance showed mixed trends across commercial vehicle categories. Light Commercial Vehicles (LCVs) continued to account for the largest share of total sales, while Medium Commercial Vehicles (MCVs) and Heavy Commercial Vehicles (HCVs) recorded positive yearly growth. HCVs emerged as the fastest-growing major segment, registering a 28.95% YoY increase.

At the manufacturer level, Tata Motors maintained its leadership position with 39,914 retail units and a 34.67% market share. Mahindra & Mahindra secured second place, followed by Ashok Leyland in third position.

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

Overall Commercial Vehicle Retail Sales in October 2026

India's commercial vehicle retail sales increased to 1,15,140 units in October 2026 from 1,03,557 units in September. This represents an additional 11,583 vehicles sold during the month.

Compared with October 2025, when the industry recorded 1,12,561 units, October 2026 sales increased by 2,579 units.

The month-on-month growth indicates an improvement in retail demand across the commercial vehicle market. However, the yearly performance remained moderate, with the LCV segment experiencing a decline despite growth in the medium and heavy commercial vehicle categories.

Category-Wise Commercial Vehicle Sales in October 2026

Source: FADA Research

Segment-Wise Commercial Vehicle Market Analysis

Light Commercial Vehicles (LCVs)

The Light Commercial Vehicle (LCV) segment remained the largest contributor to India's commercial vehicle retail market in October 2026, recording 69,148 units.

Sales increased from 62,398 units in September 2026, resulting in 10.82% MoM growth. However, compared with 76,463 units sold in October 2025, the segment registered a 9.57% YoY decline.

Despite the yearly decline, LCVs continued to dominate the market in terms of sales volume. These vehicles are widely used for last-mile delivery, e-commerce transportation, urban logistics, small-business operations and goods distribution.

Medium Commercial Vehicles (MCVs)

The Medium Commercial Vehicle (MCV) segment recorded 9,042 retail units in October 2026, compared with 8,789 units in September 2026 and 7,463 units in October 2025.

This represents 2.88% MoM growth and a strong 21.16% YoY increase. The positive yearly performance indicates improving demand for medium-duty commercial vehicles used in regional transportation, goods distribution and other commercial fleet operations.

Heavy Commercial Vehicles (HCVs)

Heavy Commercial Vehicles (HCVs) emerged as the strongest-performing major commercial vehicle category in October 2026. The segment recorded 36,879 units, compared with 32,310 units in September 2026 and 28,599 units in October 2025.

This resulted in 14.14% MoM growth and an impressive 28.95% YoY increase. The strong performance highlights rising retail demand for heavy trucks and other commercial vehicles used in long-distance transportation, infrastructure development, construction, mining and freight movement. HCVs also contributed significantly to the overall industry's positive yearly performance.

Others

The Others category recorded 71 units in October 2026, compared with 60 units in September 2026 and 36 units in October 2025. Sales increased by 18.33% MoM and 97.22% YoY. However, this category continued to account for a very small portion of India's overall commercial vehicle retail market.

OEM-Wise Commercial Vehicle Market Share in October 2026

Tata Motors continued to lead India's commercial vehicle retail market in October 2026, followed by Mahindra & Mahindra and Ashok Leyland.

Source: FADA Research. Group totals include the respective subsidiaries and divisions listed separately above. These subsidiary figures should not be added again when calculating the overall market total.

OEM-Wise Commercial Vehicle Sales Performance

Tata Motors

Tata Motors maintained its position as India's largest commercial vehicle manufacturer in October 2026, recording 39,914 retail units. The company secured a 34.67% market share, up from 31.89% in October 2025, when it sold 35,901 units. The increase in both sales volume and market share strengthened Tata Motors' leadership in India's commercial vehicle retail market.

Mahindra & Mahindra

Mahindra & Mahindra Group secured the second position in October 2026 with 31,500 retail units and a 27.36% market share. The group's total included 29,254 units from Mahindra & Mahindra Ltd and 2,246 units from Mahindra Last Mile Mobility Ltd. In October 2025, the group recorded 38,602 units with a 34.29% market share. This means its retail sales and overall market share declined compared with the same month last year. Mahindra & Mahindra Ltd accounted for 25.41% of the total commercial vehicle market, while Mahindra Last Mile Mobility contributed another 1.95%.

Ashok Leyland

Ashok Leyland secured third place in the October 2026 commercial vehicle retail market with 20,774 units and an 18.04% market share. The group's total included 20,538 units from Ashok Leyland Ltd and 236 units from Switch Mobility. In comparison, the group recorded 17,797 units and a 15.81% market share in October 2025. Ashok Leyland Ltd alone improved its market share from 15.68% to 17.84%, highlighting its stronger position in the commercial vehicle market.

VE Commercial Vehicles (VECV)

VE Commercial Vehicles recorded 9,603 retail units in October 2026, accounting for an 8.34% market share. The total included 9,518 units from VE Commercial Vehicles Ltd and 85 units from its Volvo Buses Division. In October 2025, the company recorded 7,935 units with a 7.05% market share. The increase in retail volume and market share reflects an improvement in VECV's position in India's commercial vehicle market.

Maruti Suzuki India

Maruti Suzuki India recorded 5,041 commercial vehicle retail units in October 2026, securing a 4.38% market share. The company had sold 6,147 units in October 2025, when its market share stood at 5.46%. This represents a decline in both retail sales volume and market share on a yearly basis.

Force Motors

Force Motors registered 2,363 commercial vehicle retail units in October 2026, giving it a 2.05% market share. The company's sales increased from 2,064 units in October 2025, when it held a 1.83% market share. The latest figures indicate improvement in both sales volume and market share.

Daimler India Commercial Vehicles

Daimler India Commercial Vehicles recorded 2,205 retail units in October 2026, accounting for a 1.92% market share. The company had sold 1,899 units in October 2025, when its market share was 1.69%. This indicates an improvement in its retail sales and overall market position.

SML Mahindra

SML Mahindra recorded 1,054 commercial vehicle retail units in October 2026, securing a 0.92% market share. The company sold 1,027 units in October 2025, when its market share stood at 0.91%. Its sales increased slightly during the year, while its market share remained broadly stable.

Other Commercial Vehicle Manufacturers

Other commercial vehicle manufacturers collectively recorded 2,686 retail units in October 2026, representing a 2.33% market share. In comparison, this category accounted for 1,189 units and a 1.06% market share in October 2025. The increase indicates a higher contribution from manufacturers outside the major OEM groups.

FADA October 2026 CV Retail Sales: Market Outlook

The October 2026 FADA retail data highlights a mixed performance across India's commercial vehicle market. Total retail sales increased 2.29% YoY to 1,15,140 units, supported by strong growth in the medium and heavy commercial vehicle categories.

LCVs continued to dominate overall volumes but experienced a 9.57% yearly decline. Meanwhile, HCVs recorded the strongest growth among major segments, with sales increasing 28.95% YoY. MCVs also maintained positive momentum with 21.16% growth.

Among manufacturers, Tata Motors strengthened its leadership by increasing its market share to 34.67%. Mahindra & Mahindra remained second, while Ashok Leyland secured third position.

The coming months will indicate whether the positive momentum in medium and heavy commercial vehicles continues across India's transportation, logistics and infrastructure sectors.

Also Read: FADA Three-Wheeler Retail Sales October 2026: Sales Rise 3.97% YoY to 1.41 Lakh Units; Bajaj Auto Leads

CMV360 Says

India's commercial vehicle retail market recorded 1,15,140 units in October 2026, registering 11.19% MoM and 2.29% YoY growth. While LCVs remained the largest category, HCVs delivered the strongest major-segment growth at 28.95%. Tata Motors strengthened its leadership with a 34.67% market share, followed by Mahindra & Mahindra and Ashok Leyland. Overall, the October figures reflect improving demand in the medium and heavy commercial vehicle segments.