Mahindra & Mahindra CV and 3-Wheeler Sales Report for March 2026: 35,729 Units Sold, Up 15% YoY

Key Highlights

• Total domestic sales at 35,729 units, up 15% YoY

• LCV 2T–3.5T segment grew 13% to 21,402 units

• 3-wheeler sales surged 39% to 10,801 units

• LCV <2T segment remained flat at 3,526 units

• Exports declined 4% to 3,968 units

Mahindra & Mahindra Ltd. has reported a solid performance in March 2026, with domestic commercial vehicle (CV) and three-wheeler sales reaching 35,729 units. This marks a 15% year-on-year growth, compared to 30,240 units in March 2025.

The growth reflects steady demand across India’s transport and last-mile delivery sectors, along with rising adoption of passenger and electric three-wheelers.

Domestic Sales Show Positive Momentum

The company’s domestic market performance remained strong during March 2026. Increased logistics activity and expanding mobility needs helped boost overall volumes. While some entry-level segments remained flat, higher-capacity vehicles and three-wheelers drove the growth.

Segment-Wise Performance

LCV < 2 Ton Segment

Sales in the LCV < 2T category stood at 3,526 units, almost unchanged compared to 3,530 units last year. This indicates stable but slightly softer demand in the small cargo and last-mile delivery segment.

LCV 2 Ton – 3.5 Ton Segment

The LCV 2T – 3.5T segment recorded a 13% growth, with sales rising to 21,402 units from 18,958 units in March 2025. This growth was supported by higher demand for vehicles with better payload capacity and efficiency in logistics operations.

3-Wheelers (Including Electric Models)

The three-wheeler segment delivered the strongest performance. Sales increased by 39%, reaching 10,801 units, up from 7,752 units last year. The surge was mainly driven by the growing popularity of electric three-wheelers in both passenger and cargo applications.

Export Performance Declines

Despite strong domestic growth, Mahindra’s export performance saw a decline. The company exported 3,968 units in March 2026, compared to 4,143 units in March 2025, registering a 4% drop. This suggests relatively weaker demand in international markets.

Overall Performance Outlook

Mahindra’s March 2026 performance highlights a stable and growing domestic market. Strong demand in higher-tonnage light commercial vehicles and rapid expansion in the three-wheeler segment played a key role in overall growth.

With consistent demand trends and a 15% rise in domestic sales, Mahindra continues to strengthen its position in India’s commercial vehicle space while focusing on evolving mobility needs, including electric vehicles.

Also Read: Tata Motors CV Sales March 2026: 47,976 Units Sold; Q4 FY26 Up 25% YoY

CMV360 Says

Mahindra & Mahindra delivered a steady performance in March 2026 with strong domestic growth despite weak exports. Higher demand in the LCV 2T–3.5T segment and rapid expansion in three-wheelers supported overall volumes. Stable performance in entry-level LCVs shows balanced demand across segments. With rising interest in electric mobility and last-mile solutions, the company is well-positioned to maintain growth momentum in the coming months.