Commercial Vehicle Sales H1 FY 2025-26: Tata Motors Leads, 4,75,071 Units, Up 1.8% YoY
Every commercial vehicle registered in India over H1 FY 2025-26 — April 2025 to September 2025. The first half of the financial year, April to September. Month-by-month volumes, the manufacturer leaderboard, how the segment moved against the rest of the market, and the same window in every earlier year on record.
Commercial Vehicle sales month by month, H1 FY 2025-26
India's commercial-vehicle market registered 4,75,071 commercial vehicles in H1 FY 2025-26. Volumes nudged up 1.8% against the 4,66,842 logged over the same 6 months of H1 FY 2024-25.
April was the strongest month of the period at 87,454 commercial vehicles and September the quietest at 74,433, an average of 79,178 a month. 3 of those 6 months grew on the same month a year earlier.
April opens the new fiscal year, usually with price revisions and a reset in dealer inventory.
H1 FY 2025-26 ran from April 2025 to September 2025 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of H1 FY 2024-25.
Commercial vehicles accounted for 3.7% of everything registered in India over the period, down from 3.8% in H1 FY 2024-25. The whole market ran to 1,28,79,778 vehicles over the same window, up 3.5% year on year.
Commercial Vehicle registrations by month — H1 FY 2025-26 vs H1 FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of H1 FY 2025-26, with the matching month of H1 FY 2024-25 beside it.
| Month | H1 FY 2025-26 units | H1 FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| April 2025 | 87,454 | 88,185 | −0.8% | 18.4% |
| May 2025 | 78,362 | 81,258 | −3.6% | 16.5% |
| June 2025 | 76,807 | 72,231 | +6.3% | 16.2% |
| July 2025 | 79,203 | 79,511 | −0.4% | 16.7% |
| August 2025 | 78,812 | 72,484 | +8.7% | 16.6% |
| September 2025 | 74,433 | 73,173 | +1.7% | 15.7% |
Each month links through to its own full report.
Which manufacturer sold the most, H1 FY 2025-26
Tata Motors led the period with 1,53,942 registrations, down 6.6% on H1 FY 2024-25. Mahindra follows on 1,19,126, 34,816 behind — a gap of 1.29x.
The fastest riser in the top 15 was Switch Mobility, up 296.7% to 849, while Others was down 28.7% at 3,282.
Volumes here are registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each is the manufacturer's commercial vehicle volume over H1 FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — H1 FY 2025-26
Registrations inside the segment (commercial vehicles only).
Exact registrations over April 2025 to September 2025, with the change against H1 FY 2024-25.
| # | Manufacturer | H1 FY 2025-26 units | Share of commercial vehicles | vs H1 FY 2024-25 |
|---|---|---|---|---|
| 1 | Tata Motors | 1,53,942 | 32.40% | −6.6% |
| 2 | Mahindra | 1,19,126 | 25.07% | +8.8% |
| 3 | Ashok Leyland | 88,026 | 18.53% | +5.1% |
| 4 | VECV (Eicher) | 42,428 | 8.93% | +7.7% |
| 5 | Maruti Suzuki | 17,526 | 3.69% | −0.6% |
| 6 | Force Motors | 10,208 | 2.15% | +4.9% |
| 7 | Daimler India CV | 9,314 | 1.96% | −2.4% |
| 8 | Mahindra Last Mile | 8,968 | 1.89% | +1.5% |
| 9 | SML Mahindra | 7,350 | 1.55% | +3.8% |
| 10 | Others | 3,282 | 0.69% | −28.7% |
| 11 | Local Trailer Manufacturer | 2,454 | 0.52% | +0.5% |
| 12 | Toyota Kirloskar | 1,874 | 0.39% | −13.2% |
| 13 | Isuzu India | 1,780 | 0.37% | +9.3% |
| 14 | Switch Mobility | 849 | 0.18% | +296.7% |
| 15 | PMI Electro | 584 | 0.12% | +171.6% |
Commercial Vehicle sales against the rest of the market
Set against the rest of the market, commercial vehicles lagged the national picture over H1 FY 2025-26: −0.1% against +3.5% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 6-month window, so the comparison is like for like — the same months, the same source, on both sides.
Commercial Vehicle share of the Indian market, month by month
Commercial vehicles as a percentage of every vehicle registered that month.
Exact segment volumes over April 2025 to September 2025.
| Segment | H1 FY 2025-26 units | Share | vs H1 FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 91,69,811 | 71.20% | +2.9% |
| Cars & UVs | 18,59,618 | 14.44% | +4.3% |
| Three-Wheelers | 6,49,834 | 5.05% | +5.3% |
| Tractors | 4,56,799 | 3.55% | +10.1% |
| Goods Carriers | 4,01,668 | 3.12% | −0.1% |
| Taxis & Cabs | 1,70,600 | 1.32% | +3.2% |
| Other classes | 98,045 | 0.76% | +9.4% |
| Buses | 73,403 | 0.57% | +13.1% |
What commercial vehicles run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers full-year 2025 rather than H1 FY 2025-26 alone — it is exact for that window.
Diesel accounts for 81.0% of commercial vehicle registrations over full-year 2025, with battery-electric at 1.6%.
Commercial Vehicle registrations by fuel — full-year 2025
The full-year 2025 mix.
| Fuel | 2025 units | Share | vs full-year 2024 |
|---|---|---|---|
| Diesel | 8,42,575 | 81.04% | −0.22pp |
| CNG / LPG | 1,19,433 | 11.49% | +1.32pp |
| Petrol | 38,345 | 3.69% | −1.38pp |
| Other | 22,187 | 2.13% | −0.21pp |
| Electric | 16,460 | 1.58% | +0.50pp |
| Hybrid | 731 | 0.07% | −0.01pp |
Every H1 on record
Across the 3 completed windows in our Vahan record, commercial vehicle registrations went from 4,66,842 in H1 FY 2024-25 to 5,82,012 in H1 FY 2026-27, up 24.7% over the stretch.
Commercial Vehicle registrations by half year
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| H1 FY 2026-27 | 6 | 5,82,012 | +22.5% |
| H1 FY 2025-26 | 6 | 4,75,071 | +1.8% |
| H1 FY 2024-25 | 6 | 4,66,842 | −0.7% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Frequently asked questions
How many commercial vehicles were sold in India in H1 FY 2025-26?
What period does H1 FY 2025-26 cover?
Which manufacturer sold the most commercial vehicles in H1 FY 2025-26?
Which was the strongest month for commercial vehicle sales in H1 FY 2025-26?
What share of the Indian market were commercial vehicles in H1 FY 2025-26?
Which half year had the highest commercial vehicle sales?
Are these retail sales or factory dispatches?
Commercial Vehicle sales, other periods
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
