Commercial vehicle retail crossed the one-lakh mark for the first time in a September, reaching 1,03,557 units in September 2026, according to FADA. Retail rose 37.62% year on year and 14.09% month on month.
The September figure was the segment’s best-ever September. Rural CV retail increased 40.44% year on year, ahead of 35.15% growth in urban markets. On a month-on-month basis, rural retail increased 14.25%, while urban retail grew 13.94%.
FADA attributed the September performance to continued GST 2.0 effects, replacement demand, infrastructure and mining activity, bulk fleet purchases for steel and cement movement, higher rural incomes, purchases ahead of October price increases and the half-year-end buying cycle.
HCV Retail Grows 46.22%
Heavy commercial vehicles recorded the strongest growth among the major CV sub-segments. HCV retail increased 46.22% year on year to 32,310 units and rose 21.28% month on month from 26,640 units in August.
LCV retail stood at 62,398 units, up 34.13% year on year and 11.48% month on month. MCV retail increased 33.96% year on year to 8,789 units, with monthly retail up 8.61%.
Diesel remained the dominant fuel in CV retail at 80.76%, followed by CNG/LPG at 12.07%, EVs at 4.04% and petrol/ethanol at 3.11%. EV share was down from 5.18% in August but higher than 2.16% in September 2025.
Tata Motors recorded 35,931 CV retail units and a 34.70% market share. The two Mahindra entries in FADA’s table accounted for 27,677 and 25,669 units, while Ashok Leyland recorded 19,223 and 18,962 units across the entries listed in the release.
CV Retail Up 2.48% In FY27
Commercial vehicle retail for April-September FY2027 stood at 5,85,217 units, up 21.48% from 4,81,723 units during the corresponding period of FY2026.
FADA expects CV demand to remain supported by freight movement, infrastructure activity and the enquiry pipeline in October. The association also flagged the high year-on-year base, October price increases, OEM supply of fast-moving models and weaker rainfall conditions in some areas as risks.
The September CV figures exclude Telangana, as registration data for the category was not available for the state.