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FADA reports 99,339 CV sales in April 2026 with 15% YoY growth. Tata Motors leads the market, while LCV dominates and MCV shows strong growth momentum across segments.
By Robin Kumar Attri
CV sales stood at 99,339 units in April 2026, up 15.02% YoY despite a -3.12% MoM dip.
LCV segment led volumes with 55,949 units, driven by strong logistics and last-mile demand.
MCV segment recorded the highest growth with 27.07% YoY and 10.22% MoM increase.
Tata Motors led the market with a 37.14% share, strengthening its leadership position.
Electric and smaller OEMs gained traction, reflecting a gradual shift in market dynamics.
India’s commercial vehicle (CV) retail market recorded 99,339 units in April 2026, according to FADA Research. While the market witnessed a -3.12% month-on-month decline, it registered a strong 15.02% year-on-year growth, highlighting steady demand driven by infrastructure activity, logistics expansion, and continued fleet utilization across the country.
The performance across OEMs reflected a competitive yet stable market landscape, with leading players maintaining their positions, while smaller and electric-focused manufacturers gradually improving their presence, indicating an evolving and resilient CV industry.
Also Read: FADA Retail CV Sales February 2026: 1,00,820 Units Sold, Tata Motors Retains Market Leadership
The commercial vehicle (CV) market recorded 99,339 units in April 2026, compared to 1,02,536 units in March 2026 and 86,364 units in April 2025.
While the market saw a -3.12% month-on-month (MoM) decline, mainly due to a high base in March, it still posted a strong 15.02% year-on-year (YoY) growth, indicating stable demand across logistics, infrastructure, and transport sectors.
Category | Apr’26 | Mar’26 | Apr’25 | MoM % | YoY % |
Total CV | 99,339 | 1,02,536 | 86,364 | -3.12% | 15.02% |
LCV | 55,949 | 59,379 | 47,510 | -5.78% | 17.76% |
MCV | 9,177 | 8,326 | 7,222 | 10.22% | 27.07% |
HCV | 34,170 | 34,775 | 31,567 | -1.74% | 8.25% |
Others | 43 | 56 | 65 | -23.21% | -33.85% |
The LCV segment recorded 55,949 units in April 2026, down from 59,379 units in March 2026, but higher than 47,510 units in April 2025.
The segment declined -5.78% MoM, reflecting a short-term demand correction. However, it maintained a healthy 17.76% YoY growth, supported by strong demand in e-commerce, last-mile delivery, and small business logistics.
The MCV segment registered 9,177 units, increasing from 8,326 units in March 2026 and 7,222 units in April 2025.
This segment showed 10.22% MoM growth along with 27.07% YoY growth, highlighting rising demand from intra-city transport, institutional fleets, and regional cargo movement.
The HCV segment reported 34,170 units in April 2026, slightly lower than 34,775 units in March 2026, but higher than 31,567 units in April 2025.
The segment saw a -1.74% MoM dip, but recorded 8.25% YoY growth, driven by ongoing infrastructure projects, construction activity, and long-haul freight demand.
The “Others” category stood at 43 units, declining from 56 units in March 2026 and 65 units in April 2025.
This segment reported a -23.21% MoM decline and -33.85% YoY drop, continuing to remain a low-volume and niche category within the overall CV market.
Despite a slight monthly dip, the April 2026 CV sales data shows that the industry remains on a steady growth path. Strong YoY performance across key segments, especially LCV and MCV, indicates sustained demand momentum driven by logistics expansion, infrastructure development, and economic activity.
OEM / Brand | Apr’26 Sales | Market Share Apr’26 | Apr’25 Sales | Market Share Apr’25 |
Tata Motors Ltd | 36,891 | 37.14% | 30,663 | 35.50% |
Mahindra & Mahindra Ltd | 24,308 | 24.47% | 21,124 | 24.46% |
Mahindra & Mahindra Ltd (2nd Entry) | 22,481 | 22.63% | 19,683 | 22.79% |
Mahindra Last Mile Mobility Ltd | 1,827 | 1.84% | 1,441 | 1.67% |
Ashok Leyland Ltd | 17,821 | 17.94% | 15,891 | 18.40% |
Ashok Leyland Ltd (2nd Entry) | 17,677 | 17.79% | 15,856 | 18.36% |
Switch Mobility Automotive Ltd | 144 | 0.14% | 35 | 0.04% |
VE Commercial Vehicles Ltd | 9,111 | 9.17% | 7,704 | 8.92% |
VE Commercial Vehicles Ltd (2nd Entry) | 9,040 | 9.10% | 7,639 | 8.85% |
VE Commercial Vehicles Ltd (Volvo Buses Division) | 71 | 0.07% | 65 | 0.08% |
Maruti Suzuki India Ltd | 3,892 | 3.92% | 3,214 | 3.72% |
Daimler India Commercial Vehicles Pvt. Ltd | 2,283 | 2.30% | 2,020 | 2.34% |
Force Motors Ltd | 2,113 | 2.13% | 3,646 | 4.22% |
SML Isuzu Ltd | 1,675 | 1.69% | 1,367 | 1.58% |
Others | 1,245 | 1.25% | 735 | 0.85% |
Total | 99,339 | 100.00% | 86,364 | 100.00% |
Tata Motors continued to lead the market with 36,891 units, capturing a 37.14% market share, up from 35.50% in April 2025. The company strengthened its leadership with solid demand across both light and heavy commercial vehicle segments.
Mahindra & Mahindra recorded 24,308 units, holding a 24.47% market share, almost unchanged from 24.46% last year, indicating stable performance driven by its strong presence in pickup trucks and small commercial vehicles.
Under its second reporting entry, Mahindra sold 22,481 units, accounting for a 22.63% market share, slightly lower than 22.79% in April 2025, reflecting consistent demand across segments.
Mahindra Last Mile Mobility Ltd
Mahindra Last Mile Mobility reported 1,827 units, with a 1.84% market share, improving from 1.67% last year. The growth reflects rising adoption of last-mile mobility solutions, especially in urban and semi-urban markets.
Ashok Leyland registered 17,821 units, securing a 17.94% market share, slightly lower than 18.40% in April 2025, supported by demand in medium and heavy commercial vehicles.
In its second entry, the company posted 17,677 units with a 17.79% share, compared to 18.36% last year, indicating steady but slightly moderated growth.
Switch Mobility Automotive Ltd
Switch Mobility sold 144 units, increasing its market share to 0.14%, up from 0.04% in April 2025. This highlights gradual traction in the electric commercial vehicle space.
VE Commercial Vehicles recorded 9,111 units, capturing 9.17% market share, up from 8.92% last year.
Its second entry reported 9,040 units with 9.10% share, while the Volvo Buses division contributed 71 units, maintaining a niche 0.07% share, reflecting steady performance in premium bus segments.
Maruti Suzuki sold 3,892 units, holding a 3.92% market share, slightly higher than 3.72% in April 2025, driven by continued demand for its small commercial vehicles.
Daimler India Commercial Vehicles registered 2,283 units, with a 2.30% market share, marginally lower than 2.34% last year, indicating stable demand in the premium truck segment.
Force Motors reported 2,113 units, with a 2.13% market share, significantly lower than 4.22% in April 2025, reflecting a decline in volumes during the period.
SML Mahindra recorded 1,675 units, capturing a 1.69% market share, slightly higher than 1.58% last year, showing steady growth in niche CV segments.
Other manufacturers collectively sold 1,245 units, accounting for 1.25% market share, up from 0.85% in April 2025, indicating gradual growth among smaller OEMs.
The April 2026 OEM-wise data shows that market leadership remains concentrated among key players like Tata Motors, Mahindra, and Ashok Leyland. While traditional OEMs continue to dominate, electric mobility players like Switch Mobility are slowly gaining ground.
With continued push from infrastructure development, logistics demand, and last-mile connectivity, the commercial vehicle market is expected to maintain steady growth momentum in the coming months.
Also Read: FADA Three-Wheeler Retail Sales April 2026: 1.06 Lakh Units Sold, Passenger Segment Drives Growth
India’s commercial vehicle market showcased a balanced performance in April 2026, with total retail sales reaching 99,339 units. While the market experienced a slight month-on-month decline, it maintained a healthy 15.02% year-on-year growth, reflecting steady demand across key segments.
The LCV segment continued to dominate volumes, supported by last-mile delivery and logistics demand, while MCV growth stood out with strong momentum. The HCV segment remained stable, backed by infrastructure and long-haul freight activity.
Among OEMs, Tata Motors Ltd retained its leadership position, followed by Mahindra & Mahindra Limited and Ashok Leyland Ltd, highlighting the continued dominance of key players.
With ongoing infrastructure development, expanding logistics networks, and rising demand for efficient transportation, the commercial vehicle sector is expected to maintain stable growth momentum in the coming months.
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