Commercial Vehicle Sales Show Strong Recovery in October
India’s commercial vehicle sector witnessed broad-based growth in October 2025, driven by government infrastructure projects and festive season logistics demand, according to an ACMIIL report.
Key Takeaways
- All major manufacturers reported double-digit or high single-digit growth
- Infrastructure development and festive logistics boosted demand
- Export performance remained exceptionally strong across companies
Manufacturer Performance Highlights
Tata Motors reported a 9.5% year-on-year increase in commercial vehicle volumes, continuing the positive momentum from Q2 FY26. The growth was broad-based across heavy commercial vehicles (HCV) and small commercial vehicles (SCV). Passenger carriers saw a strong 12.3% increase, while exports surged 56.2%.
Mahindra & Mahindra recorded 14.0% growth in CV volumes, primarily driven by the light commercial vehicle (LCV) segment which rose 13.8%. However, the medium and heavy truck and bus segment declined marginally by 1.5%.
Ashok Leyland posted a 16.4% year-on-year volume increase, with M&HCV sales growing 15.5% and LCV sales rising 17.8%. The company’s exports also remained strong, increasing 21.2%.
Eicher Motors’ VECV division recorded a 13.2% year-on-year volume rise, with domestic volumes growing 6.9% and exports surging 133.7%.
SML Isuzu registered robust 32.2% year-on-year growth, supported by rising demand in both cargo and passenger vehicle categories.
The overall industry performance indicates a sustained recovery trend, supported by improving freight movement and ongoing infrastructure development across the country.
