Commercial Vehicle OEM Performance
India’s CV market recorded 77,137 units in July 2025, marking a +1.8% year-on-year and ~3.5% month-on-month growth. The segment is showing signs of recovery, though performance remains divergent across sub-categories. Light and intermediate commercial vehicles (LCVs and ICVs) led the growth, supported by last-mile delivery, intra-city logistics, and agri-linkage movement. OEMs like Mahindra, Force Motors, and VE Commercial Vehicles benefited from this shift, posting consistent MoM and YoY gains. Notably, Switch Mobility saw a 147% YoY spike, signaling early traction in the electric CV space. In contrast, heavy commercial vehicles (HCVs) continued to face headwinds. Tata Motors, Ashok Leyland, and Daimler India saw either flat or declining YoY volumes, reflecting muted demand in long-haul freight and slower replacement cycles, especially from the private fleet segment. The “Others” category saw exceptional YoY growth in both trucks and buses, pointing to new entrants, regional brands, or specialized applications gaining share. Meanwhile, bus volumes rose +6.4% YoY, fueled by institutional orders, especially from state transport undertakings and urban transit authorities. Tata Motors and Ashok Leyland led these gains.
Application Segments
Click here for truck and bus sales performance with segmental/application split
Commercial Vehicles Segmental Split
Commercial Vehicle Segment Contribution (%)
Forecast Chart
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