CV Retail Sales April 2026 – Tata, Mahindra, Ashok Leyland, VE, Maruti, Daimler

Tata Motors, Mahindra and Ashok Leyland continued to dominate the commercial vehicle retail space in April 2026, together accounting for nearly 80% market share

The commercial vehicle segment recorded healthy retail demand in April 2026. Total CV retail sales stood at 99,339 units, registering a 15.02% YoY growth over 86,364 units sold in April 2025. However, sales declined on a month-on-month (MoM) basis when compared to 1,02,536 units retailed in March 2026, reflecting the usual post-financial year moderation in demand.

As per FADA data, April 2026 turned out to be the best-ever April for the commercial vehicle segment. Segment-wise analysis showed Medium Commercial Vehicles (MCV) posting the highest growth at 27.07%, followed by Light Commercial Vehicles (LCV) at 17.76%. Heavy Commercial Vehicles (HCV) recorded 8.27% growth, while the ‘Others’ category declined by 8.25%.

Fuel-wise breakup revealed diesel continuing to dominate the segment with an 82.34% share. CNG/LPG vehicles accounted for 12.08%, while petrol/ethanol-powered vehicles held a 3.28% share. EV penetration stood at 2.26%, whereas hybrid commercial vehicles remained negligible at just 0.04%.

Commercial Vehicle (CV) Retail Sales April 2026

Tata Motors retained its leadership position in the CV retail market with sales of 36,891 units in April 2026, registering a 20.31% YoY growth over 30,663 units sold in April 2025. The company commanded a 37.14% market share. On a MoM basis too, Tata recorded positive growth of 1.40% over 36,380 units sold in March 2026.

Mahindra secured the second spot with retail sales of 24,308 units, up 15.07% from 21,124 units sold in April 2025. Market share stood at 24.47%. However, MoM sales declined by 9.63% compared to 26,898 units sold in March 2026. Ashok Leyland continued at No. 3 with 17,821 units sold last month, marking a 12.15% YoY growth over 15,891 units sold a year ago. The company held a 17.94% market share, though this was slightly lower than its March 2026 share of 18.90%.

VE Commercial Vehicles posted strong retail sales of 9,111 units, reflecting an 18.26% YoY growth and an 8.25% MoM improvement. Maruti Suzuki also recorded healthy growth with 3,892 units sold in April 2026, up 21.10% YoY. Daimler India Commercial Vehicles sold 2,283 units during the month, registering a 13.02% YoY growth.

Force Motors was the only major OEM on the list to report a sharp decline in sales, with volumes falling to 2,113 units from 3,646 units sold in April 2025, resulting in a steep 42.05% decline. Its market share also dropped to 2.13%. SML Isuzu posted 1,675 units in retail sales, recording a healthy 22.53% YoY growth. Other OEMs together contributed 1,245 units, up significantly from 735 units sold in April 2025.

MoM Trends Show Mixed Momentum

While overall commercial vehicle retail sales declined by 3.12% on a MoM basis, some OEMs managed to post positive growth. Tata Motors, VE Commercial Vehicles, Daimler and SML Isuzu recorded gains over March 2026. In contrast, Mahindra, Ashok Leyland, Maruti Suzuki and Force Motors witnessed lower retails compared to the previous month.

The commercial vehicle segment is expected to maintain healthy momentum in the coming months, supported by infrastructure activity, construction demand and improving economic sentiment. However, factors such as rising temperatures across several states, fluctuating fuel prices and supply-side challenges could continue to impact overall demand trends.