Market Composition of Commercial Vehicles in India

India’s commercial vehicle (CV) retail market opened the new financial year with a strong 15.02% year-on-year expansion in April 2026, reaching a total retail volume of 99,339 units compared to 86,364 units in April 2025. Tata Motors maintained its market leadership with 36,891 units (capturing a 37.14% market share), followed by the Mahindra Group with 24,308 units combined (24.47% share) and Ashok Leyland at 17,821 units (17.94% share). Other major OEMs including VE Commercial Vehicles (9,111 units), Maruti Suzuki (3,892 units), and Daimler India (2,283 units) delivered healthy growth, whereas Force Motors experienced a sharp decline down to 2,113 units.
Overall momentum in the CV sector was largely propelled by robust rural demand (+20.25% YoY), sustained infrastructure projects, and active goods transport activity across medium and heavy vehicle categories.