Commercial vehicles, tractors and three-wheelers recorded robust growth for the month of April 2026. This was revealed in the Vehicle Retail Data for April'26 released by the Federation of Automobile Dealers Associations (FADA). While Three-Wheelers sales grew at 7.19%, Commercial Vehicles sales grew at 15.02%, tractors at 23.22%, and Construction Equipment at (-)2.25%.
Commercial Vehicle OEM
Apr'26
Market Share (%) Apr'26
Apr'25
Market Share (%) Apr'25
TATA MOTORS LTD
36,891
37.14%
30,663
35.50%
MAHINDRA & MAHINDRA LIMITED
24,308
24.47%
21,124
24.46%
22,481
22.63%
19,683
22.79%
MAHINDRA LAST MILE MOBILITY LTD
1,827
1.84%
1,441
1.67%
ASHOK LEYLAND LTD
17,821
17.94%
15,891
18.40%
17,677
17.79%
15,856
18.36%
SWITCH MOBILITY AUTOMOTIVE LTD
144
0.14%
35
0.04%
VE COMMERCIAL VEHICLES LTD
9,111
9.17%
7,704
8.92%
9,040
9.10%
7,639
8.85%
VE COMMERCIAL VEHICLES LTD (VOLVO BUSES DIVISION)
71
0.07%
65
0.08%
MARUTI SUZUKI INDIA LTD
3,892
3.92%
3,214
3.72%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD
2,283
2.30%
2,020
2.34%
FORCE MOTORS LIMITED
2,113
2.13%
3,646
4.22%
SML ISUZU LTD
1,675
1.69%
1,367
1.58%
Others
1,245
1.25%
735
0.85%
Total
99,339
100.00%
86,364
Source: FADA Research
Disclaimer:
FADA noted that Commercial Vehicle retails in April'26 stood at 99,339 units, a strong 15.02% YoY expansion and the best-ever April for the segment. From a market mix standpoint, Rural markets grew a striking 20.25% YoY versus Urban at 10.22% YoY, highlighting that logistics-led demand is no longer concentrated in metros. Dealers across regions reported sustained freight movement, infrastructure-linked goods activity, school-bus replacement demand, and steady single-owner operator confidence as the principal drivers. The MCV sub-segment continued its standout run at +27.07% YoY, while LCVs grew 17.76% and HCVs 8.25% — reflecting participatory growth across sub-segments. Some dealers, however, flagged elongated financing turnaround time, sporadic variant-level supply gaps and a degree of caution induced by external geopolitical developments as monitorables.
Three-Wheeler OEM
BAJAJ AUTO LTD
39,527
36.97%
32,639
32.72%
10,855
10.15%
6,278
6.29%
10,831
10.13%
6,259
6.28%
24
0.02%
19
PIAGGIO VEHICLES PVT LTD
8,078
7.56%
6,363
6.38%
TVS MOTOR COMPANY LTD
5,373
5.03%
3,150
3.16%
ATUL AUTO LTD
2,649
2.48%
2,019
2.02%
YC ELECTRIC VEHICLE
1,932
1.81%
3,366
3.37%
SAERA ELECTRIC AUTO PVT LTD
1,388
1.30%
1,793
1.80%
DILLI ELECTRIC AUTO PVT LTD
1,327
1.24%
1,758
1.76%
J. S. AUTO (P) LTD
1,078
1.01%
1,206
1.21%
Others including EV
34,701
32.46%
41,169
41.28%
1,06,908
100%
99,741
Construction Equipment OEM
JCB INDIA LIMITED
2,858
45.02%
2,674
41.18%
ACTION CONSTRUCTION EQUIPMENT LTD.
733
11.55%
928
14.29%
AJAX ENGINEERING LTD
522
8.22%
457
7.04%
ESCORTS KUBOTA LIMITED (CONSTRUCTION EQUIPMENT)
501
7.89%
487
7.50%
BULL MACHINES PVT LTD
227
3.58%
168
2.59%
TATA HITACHI CONSTRUCTION MACHINERY COMP. PVT LTD
216
3.40%
198
3.05%
CASE NEW HOLLAND CONSTRUCTION EQUIPMENT(I) PVT LTD
162
2.55%
183
2.82%
CATERPILLAR INDIA PRIVATE LIMITED
130
2.05%
164
2.53%
M/S SCHWING STETTER (INDIA) PRIVATE LIMITED
100
113
1.74%
INDO FARM EQUIPMENT LIMITED
82
1.29%
91
1.40%
76
1.20%
81
LIUGONG INDIA PVT. LTD
70
1.10%
114
671
10.57%
836
12.87%
6,348
6,494
Tractor OEM
MAHINDRA & MAHINDRA LIMITED (TRACTOR)
16,894
22.49%
14,049
23.05%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)
14,598
19.44%
11,608
19.04%
INTERNATIONAL TRACTORS LIMITED
10,472
13.94%
7,788
12.78%
ESCORTS KUBOTA LIMITED (AGRI MACHINERY GROUP)
8,580
11.42%
10.44%
TAFE LIMITED
8,437
11.23%
6,846
JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION)
5,287
5,008
EICHER TRACTORS
4,510
6.00%
3,667
6.02%
CNH INDUSTRIAL (INDIA) PVT LTD
3,864
5.14%
2,561
4.20%
2,467
3.28%
3,066
75,109
60,956
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