India’s commercial vehicle market continued its strong run in January 2026, with retail sales rising significantly compared to the same month last year. Strong infrastructure demand, stable freight movement and improved rural mobility helped drive growth across the CV industry.
📈 Overall CV Market Performance
- Total CV retail sales (Jan 2026): 1,07,486 units
- Growth vs Jan 2025: Up 15.07% (from 93,420 units)
- FY26 Year-to-Date (Apr-Jan): 8,56,834 units (+9.56% vs FY25)
(Source: Federation of Automobile Dealers Associations)
🚚 Segment-Wise Sales Trends (Jan 2026)
| Segment | Units Sold | YoY Growth |
|---|---|---|
| Light Commercial Vehicles (LCVs) | 65,505 | +14.94% |
| Medium Commercial Vehicles (MCVs) | 7,648 | +18.87% |
| Heavy Commercial Vehicles (HCVs) | 34,287 | +14.61% |
All segments reported strong demand, with MCVs showing the highest growth rate.
📊 Top OEM Retail Sales – January 2026
| Manufacturer | Units Sold | YoY Comparison | Market Share |
|---|---|---|---|
| Tata Motors | 36,571 | + from 31,609 | 34.02% |
| Mahindra & Mahindra | 31,884 | + from 27,550 | 29.66% |
| Ashok Leyland | 19,205 | + from 16,017 | — |
| VE Commercial Vehicles (VECV) | 8,078 | Strong YoY growth | — |
Tata retained its leadership, followed closely by Mahindra in the LCV and last-mile segments. Ashok Leyland and VECV reported solid gains in medium and heavy duty categories.
🚗 Other OEM Sales – January 2026
| Manufacturer | Units Sold |
|---|---|
| Maruti Suzuki Super Carry | 5,456 |
| Daimler India Commercial Vehicles | 2,444 |
| Force Motors | 1,692 (decline vs last year) |
| SML Isuzu | 919 |
| Other OEMs | 1,237 |
Maruti Suzuki’s Super Carry continued steady performance, while Daimler and smaller players also posted growth. Force Motors was the only major OEM to report a decline in retail sales.
📅 Month-on-Month (MoM) Sales Movement
Retail demand also improved compared with December 2025, helping sustain the upward trend seen since late last year. (RushLane images in the original show MoM comparison charts documenting growth between Dec 2025 and Jan 2026.)
📌 Key Takeaways
✔ Commercial vehicle demand in India remains healthy at the start of 2026.
✔ Light commercial vehicles continue to lead volumes.
✔ Tata Motors and Mahindra achieved strong retail growth.
✔ Medium and heavy truck demand underpins infrastructure and freight activity.
