Home / Business and Economy / Commercial Vehicle Sales Hit Record High
Commercial Vehicle Sales Hit Record High
1 Jun
Summary
- Commercial vehicle sales surpassed pre-pandemic peak in FY26.
- M&HCV wholesales rose to 423,000 units, exceeding FY19.
- Industry expected to grow 5-6% in FY27, reaching 1.24 million units.
The Indian commercial vehicle sector is experiencing a significant revival, marking FY26 as the first year of visible recovery across major manufacturers since its peak in FY19. This resurgence follows a period of subdued demand impacted by emission norm transitions, rising prices, the pandemic, and extended replacement cycles.
M&HCV wholesales in FY26 climbed to 423,000 units, surpassing the previous FY19 peak of 391,000 units, with truck sales also showing an increase. Major manufacturers like Tata Motors, Ashok Leyland, VE Commercial Vehicles, and Mahindra reported substantial sales volumes, with Ashok Leyland achieving its highest-ever annual CV sales.
Industry experts attribute this turnaround to enhanced freight availability, replacement demand, and sustained government investment in infrastructure. Favorable financing conditions and better fleet utilization are encouraging transport operators to expand capacity. Light commercial vehicles are driven by e-commerce, while M&HCVs benefit from construction and mining activities.
Projections indicate continued positive momentum, with CV volumes expected to grow another 5-6% in FY27, reaching around 1.24 million units. Despite risks like geopolitical tensions and fuel price volatility, infrastructure-led economic activity and replacement demand are anticipated to support durable growth for the sector.
