Commercial Vehicle Sales H1 FY 2026-27: Tata Motors Leads, 5,82,026 Units, Up 22.5% YoY
Every commercial vehicle registered in India over H1 FY 2026-27 — April 2026 to September 2026. 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 2026-27
India's commercial-vehicle market registered 5,82,026 commercial vehicles in H1 FY 2026-27. Volumes rose sharply 22.5% against the 4,75,071 logged over the same 6 months of H1 FY 2025-26.
September was the strongest month of the period at 1,04,589 commercial vehicles and May the quietest at 86,432, an average of 97,004 a month. Every one of those 6 months grew on the same month a year earlier.
September is the quiet month before the festive peak — buyers routinely defer registrations into the auspicious October window.
H1 FY 2026-27 ran from April 2026 to September 2026 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 2025-26.
Commercial vehicles accounted for 3.7% of everything registered in India over the period, up from 3.7% in H1 FY 2025-26. The whole market ran to 1,55,77,870 vehicles over the same window, up 20.9% year on year.
Commercial Vehicle registrations by month — H1 FY 2026-27 vs H1 FY 2025-26
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of H1 FY 2026-27, with the matching month of H1 FY 2025-26 beside it.
| Month | H1 FY 2026-27 units | H1 FY 2025-26 units | YoY | Share of period |
|---|---|---|---|---|
| April 2026 | 1,01,341 | 87,454 | +15.9% | 17.4% |
| May 2026 | 86,432 | 78,362 | +10.3% | 14.9% |
| June 2026 | 93,962 | 76,807 | +22.3% | 16.1% |
| July 2026 | 1,02,532 | 79,203 | +29.5% | 17.6% |
| August 2026 | 93,170 | 78,812 | +18.2% | 16.0% |
| September 2026 | 1,04,589 | 74,433 | +40.5% | 18.0% |
Each month links through to its own full report.
Which manufacturer sold the most, H1 FY 2026-27
Tata Motors led the period with 1,96,465 registrations, up 27.6% on H1 FY 2025-26. Mahindra follows on 1,42,645, 53,820 behind — a gap of 1.38x.
The fastest riser in the top 15 was Euler Motors, up 1306.4% to 4,599, while Others was down 33.0% at 2,198.
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 2026-27. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — H1 FY 2026-27
Registrations inside the segment (commercial vehicles only).
Exact registrations over April 2026 to September 2026, with the change against H1 FY 2025-26.
| # | Manufacturer | H1 FY 2026-27 units | Share of commercial vehicles | vs H1 FY 2025-26 |
|---|---|---|---|---|
| 1 | Tata Motors | 1,96,465 | 33.76% | +27.6% |
| 2 | Mahindra | 1,42,645 | 24.51% | +19.7% |
| 3 | Ashok Leyland | 1,03,649 | 17.81% | +17.7% |
| 4 | VECV (Eicher) | 48,811 | 8.39% | +15.0% |
| 5 | Maruti Suzuki | 21,554 | 3.70% | +23.0% |
| 6 | Force Motors | 11,611 | 1.99% | +13.7% |
| 7 | Mahindra Last Mile | 11,215 | 1.93% | +25.1% |
| 8 | Daimler India CV | 11,026 | 1.89% | +18.4% |
| 9 | SML Mahindra | 8,163 | 1.40% | +11.1% |
| 10 | Euler Motors | 4,599 | 0.79% | +1306.4% |
| 11 | Local Trailer Manufacturer | 2,776 | 0.48% | +13.1% |
| 12 | Others | 2,198 | 0.38% | −33.0% |
| 13 | Isuzu India | 1,867 | 0.32% | +4.9% |
| 14 | Switch Mobility | 1,396 | 0.24% | +64.4% |
| 15 | Toyota Kirloskar | 1,287 | 0.22% | −31.3% |
Commercial Vehicle sales against the rest of the market
Set against the rest of the market, commercial vehicles outgrew the national picture over H1 FY 2026-27: +25.9% against +20.9% 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 2026 to September 2026.
| Segment | H1 FY 2026-27 units | Share | vs H1 FY 2025-26 |
|---|---|---|---|
| Two-Wheelers | 1,10,53,895 | 70.96% | +20.5% |
| Cars & UVs | 23,19,400 | 14.89% | +24.7% |
| Three-Wheelers | 7,49,585 | 4.81% | +15.4% |
| Tractors | 5,50,000 | 3.53% | +20.4% |
| Goods Carriers | 5,05,772 | 3.25% | +25.9% |
| Taxis & Cabs | 2,25,980 | 1.45% | +32.5% |
| Other classes | 96,984 | 0.62% | −1.1% |
| Buses | 76,254 | 0.49% | +3.9% |
What commercial vehicles run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers 2026 year to date rather than H1 FY 2026-27 alone — it is exact for that window.
Diesel accounts for 80.4% of commercial vehicle registrations over 2026 year to date, with battery-electric at 3.1%.
Commercial Vehicle registrations by fuel — 2026 year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Diesel | 7,71,815 | 80.40% | −0.64pp |
| CNG / LPG | 1,13,016 | 11.77% | +0.29pp |
| Electric | 29,714 | 3.10% | +1.51pp |
| Petrol | 25,652 | 2.67% | −1.02pp |
| Other | 19,226 | 2.00% | −0.13pp |
| Hybrid | 545 | 0.06% | −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 5,82,026 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 | 5,82,026 | +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 2026-27?
What period does H1 FY 2026-27 cover?
Which manufacturer sold the most commercial vehicles in H1 FY 2026-27?
Which was the strongest month for commercial vehicle sales in H1 FY 2026-27?
What share of the Indian market were commercial vehicles in H1 FY 2026-27?
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.
