Mahindra & Mahindra Ltd. (M&M Ltd.), announced that its overall sales including exports in the Trucks and Buses business (CV>3.5T) for the month of February 2026 stood at 3018 vehicles, a y-o-y growth of 13%. Mahindra’s Trucks & Buses business comprises of Mahindra Trucks & Buses division (MTBD) and SML Mahindra Limited (SML).
According to Vinod Sahay, Executive Chairman– SML, President – Aerospace, Defence, Trucks, Buses & CE, M&M, “Commercial vehicle industry continues to show strong momentum since last quarter reinforcing confidence in the sector’s trajectory. Looking ahead the outlook remains robust, underpinned by ongoing government investments, accelerated fleet modernization, and steady freight movement. At the same time, we remain attentive to emerging challenges, including geopolitical developments, and other external factors”.
Trucks & Buses Business (MTBD+SML) – February 2026
Category
February
YTD February
F26
F25
% Change
Cargo Vehicles
1521
1364
12%
13932
11466
22%
Passenger Vehicles
1497
1307
15%
13265
12064
10%
MTBD + SML Total
3018
2671
13%
27197
23530
16%
Mahindra Trucks & Buses (MTBD) – February 2026
1035
896
9126
7845
480
487
-1%
3896
3779
3%
MTBD Total
1515
1383
13022
11624
SML Mahindra Limited (SML) – February 2026
486
468
4%
4806
3621
33%
1017
820
24%
9369
8285
SML Total
1503
1288
17%
14175
11906
19%
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