Commercial Vehicle Retail Sales Rise 2.29% To 1.15 Lakh In October: FADA

Commercial vehicle retail sales in India rose 2.29% YoY to 1,15,140 units in October 2026, according to FADA. Retails were up 11.19 percent from 1,03,557 units in September. October 2025 volumes stood at 1,12,561 units. FADA said it was a best-ever October for the segment, achieved despite a high base.

Growth was led by heavier trucks. Heavy commercial vehicle retails rose 28.95% YoY to 36,879 units, while medium commercial vehicles grew 21.16% to 9,042 units. Light commercial vehicles eased 9.57% to 69,148 units. Month on month, LCVs rose 10.82%, MCVs 2.88% and HCVs 14.14%.

Dealers attributed the performance to sustained freight movement, infrastructure execution, and the haulage of coal, iron ore and e-commerce cargo. FADA described CVs as the clearest read-through to the underlying economy, since the segment is the least festival-dependent.

During the Navratri window, CV retails rose 3.90% YoY to 36,596 units and 19.67% over Navratri 2024. FY2027 retails through October are up 18.17% at 7,02,405 units.

Urban Strength, Rural Softness

Urban CV retail grew 6.51% YoY and rural fell 2.29%. Month on month, urban rose 15.47% and rural 6.51%. Urban markets accounted for 54.2 percent of CV retail, up from 52.2% in September.

Diesel Dominant, EVs Growing

Diesel accounted for 81.40% of CV retail, against 82.07 percent a year earlier. CNG/LPG held 11.31 percent (12.09 percent a year ago) and petrol 2.97 percent (4.12 percent).

Electric CVs reached 4.29 percent, up from 1.67 percent, which works out to roughly 4,900 units against about 1,900 a year ago. During Navratri, electric CV retails nearly doubled to 1,303 units.

Tata Overtakes Mahindra

Tata Motors retailed 39,914 units for a 34.67 percent share, up from 31.89 percent and about 11 percent higher in volume. It moved ahead of Mahindra & Mahindra, which led a year ago. M&M, including Mahindra Last Mile Mobility, retailed 31,500 units, down about 18 percent, and its share fell to 27.36 percent from 34.29 percent.

Ashok Leyland retailed 20,774 units (up about 17 percent) for an 18.04 percent share, from 15.81 percent. VE Commercial Vehicles retailed 9,603 units (up about 21 percent) for an 8.34 percent share. Maruti Suzuki retailed 5,041 units, with its share down to 4.38 percent from 5.46 percent. Force Motors recorded 2,363 units, Daimler India Commercial Vehicles 2,205 units and SML Mahindra 1,054 units.

CV dealers carry the firmest conviction of any segment for the November-January period, citing infrastructure, mining and e-commerce haulage. Across categories, 50.41 percent of dealers expect growth over the three months.