Mahindra Trucks and Buses Sales Rise 40% to 2,838 Units in October 2026

Key highlights

• Mahindra sold 2,838 trucks and buses in October 2026, up 40%.

• Cargo vehicle sales increased 62% to 2,036 units.

• MTBD recorded 82% growth, selling 1,773 vehicles.

• SML Mahindra sold 1,065 vehicles, up 1%.

• Combined April-October sales reached 20,643 units, up 24%.

Mahindra & Mahindra Ltd. (M&M) reported strong sales growth in its Trucks and Buses business in October 2026, supported by healthy festive-season demand, improved freight movement and infrastructure-related activities. The company sold a total of 2,838 commercial vehicles (above 3.5 tonnes), including exports, registering a 40% year-on-year (YoY) increase compared to 2,034 vehicles sold in October 2025.

Cargo vehicles emerged as the biggest growth driver, with sales increasing by 62% during the month. Passenger vehicle sales also recorded positive growth, reflecting steady demand across the company's commercial vehicle portfolio.

The combined performance includes sales from Mahindra Truck and Bus Division (MTBD) and SML Mahindra Limited (SML).

Also Read: Mahindra CV & 3W Sales Rise 14% to 50,669 Units in October 2026; Exports Jump 77%

Mahindra Trucks and Buses Sales Performance in October 2026

Mahindra's combined Trucks and Buses business recorded significant growth in October, with cargo vehicles contributing the largest share of monthly sales.

Cargo vehicle sales increased to 2,036 units in October 2026 from 1,255 units in the same month last year, representing a 62% growth. Meanwhile, passenger vehicle sales rose slightly to 802 units from 779 units, registering a 3% increase.

The company's cumulative performance also remained strong. Between April and October 2026, Mahindra's combined MTBD and SML business sold 20,643 vehicles, compared to 16,622 vehicles during the corresponding period last year, marking a 24% increase.

Mahindra Trucks and Buses YTD Sales (April-October 2026)

The figures indicate that cargo vehicles are currently growing faster than passenger vehicles, both in monthly and cumulative sales.

Mahindra Truck and Bus Division (MTBD) Sales Increase 82%

Mahindra Truck and Bus Division (MTBD) delivered a particularly strong performance in October 2026, with total sales reaching 1,773 vehicles, compared to 975 vehicles in October 2025. This represents an impressive 82% year-on-year increase.

Cargo vehicles were the biggest contributor to this growth. MTBD sold 1,504 cargo vehicles during October, compared to 748 units in the corresponding month last year, recording a 101% increase. This means cargo vehicle sales more than doubled during the month.

Passenger vehicle sales also maintained positive momentum, increasing 19% to 269 units from 227 units in October 2025. For the April-October 2026 period, MTBD recorded total sales of 10,238 vehicles, up 38% from 7,418 units sold during the same period last year.

MTBD YTD Sales Performance (April-October 2026)

MTBD's performance highlights strong demand for its cargo vehicle range, with both cargo and passenger vehicle sales recording healthy cumulative growth.

SML Mahindra Sales Grow 1% in October 2026

SML Mahindra Limited recorded a comparatively steady performance in October 2026, selling 1,065 vehicles against 1,059 vehicles in October 2025, representing a 1% year-on-year increase.

The company's cargo vehicle sales increased by 5% to 532 units from 507 units in the corresponding month last year. However, passenger vehicle sales declined slightly by 3%, falling to 533 units from 552 units in October 2025.

Despite the monthly decline in passenger vehicle sales, SML maintained positive cumulative growth. Between April and October 2026, the company sold 10,405 vehicles, compared to 9,204 units in the same period last year, registering a 13% increase. Passenger vehicle sales remained an important contributor to this performance, growing 17% during the April-October period.

SML Mahindra YTD Sales Performance (April-October 2026)

SML's cumulative sales growth reflects continued demand for its passenger and cargo vehicle portfolio, even though passenger vehicle sales experienced a small decline during October.

What Mahindra Management Said About October 2026 Sales

Commenting on the company's performance, Vinod Sahay, Executive Chairman - SML and President - Aerospace, Advanced Technologies, Trucks, Buses & Construction Equipment (CE), Mahindra & Mahindra Ltd., said that October continued the strong momentum built during the second quarter. He attributed the growth to festive-season demand, healthy freight movement and infrastructure-led activities across important sectors.

Sahay also highlighted that increasing commodity prices and input costs remain areas that require close monitoring. However, he expressed confidence in the business outlook, supported by infrastructure investments, replacement demand and broader economic activity. According to the company, these factors are expected to continue supporting demand in the coming months.

About Mahindra Group

Founded in 1945, the Mahindra Group is a global business organisation with around 3,24,000 employees across more than 100 countries. The group has a leading presence in India's farm equipment, utility vehicle, information technology and financial services sectors. It is also the world's largest tractor manufacturer by volume.

Beyond its core businesses, Mahindra has expanded its presence in renewable energy, agriculture, logistics, hospitality and real estate. The group aims to strengthen its global leadership in Environmental, Social and Governance (ESG) practices, support rural prosperity and improve urban living. Its broader vision is to help communities and stakeholders rise.

Also Read: Ashok Leyland October 2026 Sales Report: CV Sales Rise 28.7% to 19,574 Units; Exports Grow 66.5%

CMV360 Says

Mahindra's Trucks and Buses business delivered a strong performance in October 2026, with total sales increasing 40% to 2,838 vehicles. MTBD led the monthly growth, supported by more than doubled cargo vehicle sales, while SML maintained positive cumulative performance. With combined April-October sales rising 24%, healthy freight movement, festive demand and infrastructure investments continue to support the company's commercial vehicle business outlook.