Indian auto market · CV retail report
India Commercial Vehicle Retail Sales May 2026
Tata Motors widened its lead at the top of India's commercial vehicle market, Mahindra kept pace, and the heavy end barely moved. Here is the OEM-wise picture for May 2026, including the sub-brand splits inside each group.
CVs retailed by the eight largest OEM groups
The month in numbers
May 2026 at a glance
Growth was concentrated at the light end. Tata and Mahindra each added close to 10%, while Ashok Leyland and VE Commercial Vehicles — the two most truck-heavy names on the list — moved a combined net of just 18 units between them.
Who sold how many
CV OEM groups by retail volume
Tata Motors and Mahindra together took 61.93% of the month. Below the top four the drop is sharp — fifth-placed Maruti Suzuki, which sells only small commercial vehicles, retailed roughly half of what VE Commercial Vehicles did.
- 01Tata Motors29,603
- 02Mahindra & Mahindra Group22,307
- 03Ashok Leyland Group14,812
- 04VE Commercial Vehicles7,227
- 05Maruti Suzuki India3,636
- 06Daimler India CV1,888
- 07Force Motors1,651
- 08SML Mahindra1,516
Year on year
May 2026 vs May 2025
Tata added 2,590 units and Mahindra 1,981 — between them, the entire net growth of the set and then some. Force Motors gave back 665 units, the single largest decline of the month in both absolute and percentage terms.
- Tata Motors+9.6%202527,013202629,603
- Mahindra & Mahindra Group+9.8%202520,326202622,307
- Ashok Leyland Group−0.2%202514,842202614,812
- VE Commercial Vehicles+0.7%20257,17920267,227
- Maruti Suzuki India+13.8%20253,19520263,636
- Daimler India CV+2.6%20251,84020261,888
- Force Motors−28.7%20252,31620261,651
- SML Mahindra−7.5%20251,63920261,516
Inside the groups
What the sub-brands did
Three of the eight names on the list are groups with more than one CV business. Split them open and the picture changes — the electric and last-mile arms are growing far faster than the trucks they sit next to.
Mahindra & Mahindra Group
- Mahindra & Mahindra18,845 → 20,662 · 24.65% share+9.6%
- Mahindra Last Mile Mobility1,481 → 1,645 · 1.96% share+11.1%
Ashok Leyland Group
- Ashok Leyland14,717 → 14,598 · 17.42% share−0.8%
- Switch Mobility Automotive125 → 214 · 0.26% share+71.2%
VE Commercial Vehicles
- VE Commercial Vehicles7,117 → 7,165 · 8.55% share+0.7%
- VECV Volvo Buses Division62 → 62 · 0.07% share0.0%
Single-brand groups
- Tata Motors29,603 units · 35.32% share+9.6%
- Maruti Suzuki India3,636 units · 4.34% share+13.8%
Movers of the month
Fastest growth, sharpest declines
Percentage change in retail volume, May 2026 over May 2025, at both group and sub-brand level. Switch Mobility posts the biggest jump, but off a base of just 125 units — Tata and Mahindra are the ones adding real volume.
Gainers
- Switch Mobility Automotive125 → 214+71.2%
- Maruti Suzuki India3,195 → 3,636+13.8%
- Mahindra Last Mile Mobility1,481 → 1,645+11.1%
- Mahindra & Mahindra Group20,326 → 22,307+9.8%
- Tata Motors27,013 → 29,603+9.6%
- Daimler India CV1,840 → 1,888+2.6%
Declines
- Force Motors2,316 → 1,651−28.7%
- SML Mahindra1,639 → 1,516−7.5%
- Ashok Leyland14,717 → 14,598−0.8%
- Ashok Leyland Group14,842 → 14,812−0.2%
- VECV Volvo Buses Division62 → 62 · unchanged0.0%
The full picture
OEM-wise CV retail sales table
May 2026 versus May 2025 for the eight largest commercial vehicle OEM groups, with market share, year-on-year change and sub-brand rows shown in italics beneath their parent group.
| Commercial vehicle OEM | May 2026 | Share | May 2025 | Share | YoY |
|---|---|---|---|---|---|
| Tata Motors | 29,603 | 35.32% | 27,013 | 33.93% | +9.6% |
| Mahindra & Mahindra Group | 22,307 | 26.61% | 20,326 | 25.53% | +9.8% |
| Mahindra & Mahindra | 20,662 | 24.65% | 18,845 | 23.67% | +9.6% |
| Mahindra Last Mile Mobility | 1,645 | 1.96% | 1,481 | 1.86% | +11.1% |
| Ashok Leyland Group | 14,812 | 17.67% | 14,842 | 18.64% | −0.2% |
| Ashok Leyland | 14,598 | 17.42% | 14,717 | 18.49% | −0.8% |
| Switch Mobility Automotive | 214 | 0.26% | 125 | 0.16% | +71.2% |
| VE Commercial Vehicles | 7,227 | 8.62% | 7,179 | 9.02% | +0.7% |
| VE Commercial Vehicles | 7,165 | 8.55% | 7,117 | 8.94% | +0.7% |
| VECV Volvo Buses Division | 62 | 0.07% | 62 | 0.08% | 0.0% |
| Maruti Suzuki India | 3,636 | 4.34% | 3,195 | 4.01% | +13.8% |
| Daimler India Commercial Vehicles | 1,888 | 2.25% | 1,840 | 2.31% | +2.6% |
| Force Motors | 1,651 | 1.97% | 2,316 | 2.91% | −28.7% |
| SML Mahindra | 1,516 | 1.81% | 1,639 | 2.06% | −7.5% |
| Eight groups shown | 82,640 | 98.59% | 78,350 | 98.41% | +5.5% |
Swipe the table sideways to see all columns. Sub-brand rows are already counted inside their parent group total.
Key takeaways
What May 2026 tells us about CVs
Two players carried the whole month
Tata added 2,590 units and Mahindra 1,981. Together that is 4,571 units against a net gain of 4,290 across all eight groups — meaning the rest of the field was a drag on growth, not a contributor.
The heavy end stood still
Ashok Leyland Group and VE Commercial Vehicles finished within a few dozen units of where they started. In a market growing 5.5%, standing still means losing share — Ashok gave up nearly a full percentage point.
The electric and last-mile arms are the fast bit
Switch Mobility and Mahindra Last Mile Mobility grew far quicker than the truck businesses they sit inside. They are still small — 1,859 units combined — but they are the only parts of these groups moving at speed.
Force Motors had a bad month
A fall from 2,316 to 1,651 units cost Force nearly a full point of share, dropping it from sixth to seventh. It is the only name in the set to lose more than a tenth of its volume.
Frequently asked
India CV sales May 2026: quick answers
Which company sold the most commercial vehicles in India in May 2026?
Tata Motors led with 29,603 commercial vehicle retails and a 35.32% market share, up from 27,013 units and 33.93% share in May 2025.
How much did India's commercial vehicle retails grow in May 2026?
The eight largest CV OEM groups retailed 82,640 units against 78,350 a year earlier — growth of 5.5%. These eight groups together account for 98.59% of the market.
Who is the second largest commercial vehicle maker in India?
Mahindra & Mahindra Group was second with 22,307 units and 26.61% share, followed by Ashok Leyland Group at 14,812 units and 17.67% share.
Which commercial vehicle brand declined the most in May 2026?
Force Motors fell the most, down 28.7% from 2,316 to 1,651 units. SML Mahindra declined 7.5% and Ashok Leyland Group was almost flat at −0.2%.
Does Maruti Suzuki sell commercial vehicles in India?
Yes. Maruti Suzuki retailed 3,636 commercial vehicles in May 2026 for a 4.34% share, up 13.8% year on year. That places it fifth among CV OEMs, ahead of Daimler, Force Motors and SML Mahindra.
What is Switch Mobility Automotive?
Switch Mobility Automotive is Ashok Leyland's electric vehicle arm. It retailed 214 units in May 2026 against 125 a year earlier — growth of 71.2%, the fastest in the commercial vehicle set, though still only 0.26% of the market.
Methodology
All figures are commercial vehicle retail registration volumes for May 2026 and May 2025, reported at OEM group level with sub-brand rows shown separately in italics. Sub-brand volumes are already included in their parent group total and must not be added again. Market share percentages are as reported in the source data; the eight groups listed here account for 98.59% of May 2026 registrations, so the remaining 1.41% of the market is not detailed on this page. Retail data reflects registrations at RTOs, not factory dispatches. Year-on-year percentages are calculated from the underlying unit volumes.