Tata Motors, Ashok Leyland and Mahindra Report Double-Digit CV Sales Growth in August 2026

Commercial vehicle (CV) sales increased in August, with major manufacturers reporting double-digit year-on-year growth, as per a Business Standard news report.  

Freight movement, infrastructure work, and vehicle replacement supported demand before the festival season. 

Tata Motors, Ashok Leyland Lead Growth 

Tata Motors’ domestic CV sales rose 33% to 36,619 units in August from 27,481 units a year earlier. Ashok Leyland sold 19,438 units, up 43% from 13,622 units, while Mahindra’s sub-3.5-tonne CV sales increased 22% to 27,415 units. 

VECV’s domestic CV sales rose 19.8% to 7,584 units from 6,331 units. Mahindra Truck & Bus Division and SML Mahindra reported combined sales of 2,495 units, including exports, against 1,701 units last year. 

July Sales Also Show Increase 

The year-on-year growth was partly due to a lower base. CV dispatches in August 2025 were affected by uncertainty around GST changes. Sales in August this year, however, also increased from July for most major manufacturers. 

Tata Motors and Ashok Leyland recorded nearly 8% sequential growth in domestic CV volumes. Mahindra’s sub-3.5-tonne CV sales increased nearly 9%, while VECV’s domestic sales were broadly flat. 

Retail registrations also increased during the month. CV registrations on the VAHAN portal rose 22% year-on-year in August, according to InCred Research. 

Heavy Commercial Vehicles Gain 

The increase was more pronounced in heavier vehicles. Ashok Leyland’s domestic M&HCV sales rose 55% to 12,408 units. Truck sales increased 60% to 10,285 units, while bus sales rose 36% to 2,123 units. LCV sales increased 25% to 7,030 units. 

Tata Motors’ domestic medium, heavy and intermediate CV sales rose 31% to 17,531 units. HCV truck volumes increased 42%, intermediate and light-medium CV trucks rose 20%, passenger carriers grew 31%, and small commercial vehicle cargo and pickups increased 34%. 

Factors Supporting Demand 

Kotak Securities said improving fleet operator sentiment and a GST-led demand stimulus supported CV demand. Mahindra cited infrastructure spending, freight demand and replacement demand, while noting higher fuel and input costs. 

InCred Research expects industrial production and core-sector growth to support demand. It also identified West Asia tensions, fuel prices, and input-cost inflation as risks. 

Read More: India’s Economy Expands 7.8% in Q1 FY27 As Services and Fixed Investment Drive Growth! 

Conclusion 

CV sales improved in August across wholesale and retail channels. While the low base contributed to the year-on-year growth, sequential sales at most major manufacturers also increased ahead of the festival season. 

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