CV retail data showed off a strong 23.43% YoY growth in Dec 2025, although MoM figures declined marginally
As per reports from Federation of Automobile Dealers Associations (FADA), the commercial vehicle (CV) segment in India has grown significantly not only over the past month but also during the past year. Factors contributing to this growth were infrastructure demand, logistics, and GST rationalization that together worked in favour of improved sales.
CV Retail Sales – Dec 2025
With a total of 83,666 units sold last month, the CV segment has seen a 24.60% improvement in YoY sales from 67,145 units sold in Dec 2024. MoM sales, however, fell by 9.65% from 92,604 unit sales in Nov 2025. A further breakup shows that YoY sales improved strongly across LCV, MCV, and HCV segments.
In an OEM-wise breakup, Tata Motors held a top spot with 29,560 unit sales, a sizeable improvement from 24,327 unit sales of Dec 2024. Mahindra too saw its retail sales improve to 22,766 units while Ashok Leyland recorded 15,238 unit sales last month.
Among the smaller CV makers, Switch Mobility sales went up to 320 units from 97 units YoY. VE Commercial sales stood at 6,737 units while the company had reported 4,594 units in the same month last year. Maruti (4,004 units) and Force Motors (1,613 units) have both accounted for reasonable improvements in YoY sales while Daimler sales went up to 1,780 units from 1,600 units on a YoY basis. SML sales were at 918 units while others in this segment contributed 1,050 units to total retail sales.
CV Retail Sales – Jan to Dec 2025
During calendar year 2025, CV sales stood at 10,09,654 units, up 6.71% over 9,46,190 units of the same period last year. LCV and MCV sales improved strongly while HCV sales saw a marginal growth. Tata Motors sales dipped to 3,42,766 units down from 3,46,957 units of CY24 taking market share down to 33.95% from 36,67%. Mahindra retail sales grew to 2,84,930 units while Ashok Leyland too reported an increase from 1,66,746 units of CY24 to 1,76,574 units in the CY25 period.
VE Commercial Vehicle accounted for 83,967 unit retail sales marking strong YoY growth while Maruti CV sales went up to 47,837 units. Force Motors CV range also received more attention with 25,901 units sold in CY25 though Daimler sales dipped to 20,911 units from 21,002 units under the two years being surveyed. SML added 14,192 units to total retail sales while other OEMs sold 9,576 units in the CY25 period.
Fuel wise sales breakup
Commercial vehicle sales in India in calendar year 2025 stood at 10.09 lakh units, registering a 6.7% year-on-year growth over CY2024, with diesel continuing to dominate the segment. Diesel-powered CVs accounted for 8.31 lakh units, up 6.2% YoY, reinforcing their stronghold across freight and long-haul applications. CNG/LPG vehicles emerged as the fastest-growing conventional fuel category, posting 19.9% growth to 1.19 lakh units, driven by rising adoption in intra-city logistics and public transport due to lower running costs.
Electric CVs recorded the sharpest growth overall, surging 54.2% YoY to 15,606 units, albeit from a smaller base, indicating gradual electrification in last-mile and urban delivery segments. Hybrid CVs also grew strongly by 43.6% to 593 units, though volumes remain limited. In contrast, petrol/ethanol CVs declined 19.4% YoY to 43,101 units, reflecting reduced relevance in the commercial space. Hydrogen and other alternative fuels remained negligible, with hydrogen volumes falling to just six units. Overall, 2025 highlighted a steady shift toward cleaner fuel options, even as diesel continues to anchor India’s commercial vehicle ecosystem.
