September 2026 CV Sales: Tata Up 42%, Ashok Leyland 28%, Mahindra Trucks 53%

Trucks and Buses Lead the Festive Charge

India's commercial vehicle makers began the festive quarter with a sharp rebound. Tata Motors' total CV sales, including international business, rose 42.4 per cent year on year to 51,062 units in September 2026, with domestic sales up 31.2 per cent to 43,487 units. Domestic medium and heavy commercial vehicle volumes climbed 44.3 per cent, helped by activity in infrastructure, construction and mining.

Ashok Leyland reported total sales of 24,049 units, up 28 per cent, with medium and heavy commercial vehicle trucks rising 44 per cent. Mahindra's Trucks and Buses business sold 2,912 vehicles, a 53 per cent jump, which the company linked to early festive buying, steady freight movement and a lower year-ago base. AUTOINDIA's home page carries our wider CV and infrastructure coverage.

The momentum builds on a strong FY2026, the commercial vehicle industry's best year in seven. That boom was triggered by the September 2025 GST cut, which brought truck prices down by roughly 10 per cent and unlocked replacement demand in a fleet with an average age of about ten years. The current run, however, is not without risk: rising steel and component costs have squeezed margins even as volumes hit records, and transporters are also absorbing a fresh toll hike at Mumbai's entry points.

What this means for you: for fleet owners and small transporters, the festive quarter looks like a good window to add capacity, but keep an eye on finance costs and diesel prices, which management teams themselves flagged as key monitorables. Rising input costs and tolls can quietly eat into the running economics of a new truck even when the purchase deal looks attractive.

(Sources: Tata Motors, Ashok Leyland and Mahindra and Mahindra sales releases, ETAuto, CNBC-TV18, The Economic Times)