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Updated On: 01-Feb-2026 07:24 AM
Mahindra reports 23% growth in domestic CV and three-wheeler sales in January 2026, led by strong LCV and 3W demand, with exports also showing steady improvement.
37,222 domestic CV & 3W units sold in January 2026.
Overall domestic sales grew by 23% YoY.
LCV 2T–3.5T segment led volumes with 23,647 units.
3-wheeler sales rose sharply by 28%.
Export sales increased by 5% to 3,577 units.
Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automobile manufacturers, has reported strong performance in its commercial vehicle (CV) and three-wheeler (3W) segments for January 2026. The company registered healthy year-on-year growth in domestic sales, supported by steady demand across light commercial vehicles and rising adoption of three-wheelers, including electric models.
Also Read: Mahindra Reports 32,324 Domestic CV & 3-Wheeler Sales in December 2025, Up 33%
In January 2026, Mahindra sold a total of 37,222 commercial vehicles and three-wheelers in the domestic market, marking a 23% growth compared to 30,202 units sold in January 2025. The growth reflects improving demand in cargo movement, last-mile delivery, and passenger mobility across urban and semi-urban regions.
Category | January F26 | January F25 | YoY Change |
LCV < 2T | 4,009 | 3,541 | 13% |
LCV 2T – 3.5T | 23,647 | 19,209 | 23% |
3-Wheelers (including E-3W) | 9,566 | 7,452 | 28% |
Total | 37,222 | 30,202 | 23% |
The LCV under 2-tonne segment recorded sales of 4,009 units, registering a 13% increase over last year. This category continued to benefit from consistent demand in last-mile delivery and small cargo operations.
The LCV 2T–3.5T segment remained the largest contributor to volumes, with 23,647 units sold, showing a 23% year-on-year growth. Demand for higher payload vehicles and efficient cargo transport solutions supported sales in this segment.
The three-wheeler segment, including electric three-wheelers, delivered the strongest growth of 28%, with 9,566 units sold in January 2026. Increased use of three-wheelers for passenger transport and urban cargo movement, along with rising electric adoption, played a key role in this growth.
Mahindra’s commercial vehicle export performance also showed improvement during the month. The company exported 3,577 units in January 2026, compared to 3,404 units in January 2025, registering a 5% year-on-year growth.
Category | January F26 | January F25 | YoY Change |
Exports | 3,577 | 3,404 | 5% |
The export growth indicates a gradual recovery in select international markets.
Mahindra’s January 2026 sales performance highlights strong domestic momentum in the commercial vehicle and three-wheeler space. With 23% growth in domestic CV and 3W sales and a 5% rise in exports, the company continues to strengthen its presence in both cargo and passenger mobility segments.
Note:
Total vehicle sales of 104,309 units include SUVs, LCVs (<3.5T), three-wheelers, and export volumes.
UV sales include volumes from subsidiary Mahindra Electric Automobile Limited.
Sales figures include volumes from Mahindra Last Mile Mobility Limited.
Sales data also includes Bolero Maxx PUP HD 1.9 and HD 2.0 models.
Mahindra & Mahindra delivered a strong performance in January 2026, driven by steady domestic demand for light commercial vehicles and three-wheelers. With 23% growth in domestic CV and 3W sales and improved export numbers, the company showed resilience across cargo and mobility segments. Rising acceptance of electric three-wheelers and higher payload LCVs further supported Mahindra’s positive sales momentum.