December 2025 Performance
In December 2025 alone, 83,666 CVs were sold, reflecting a 24.6% YoY increase from 67,145 units in December 2024, though a slight 9.65% decline compared to November 2025. Among manufacturers, Tata Motors led the pack with 29,560 units sold, followed by Mahindra with 22,766 units and Ashok Leyland with 15,238 units. Smaller OEMs like Switch Mobility, VE Commercial Vehicles, Maruti, Force Motors, and Daimler also recorded YoY gains, indicating a broad-based recovery across the sector.
During the full calendar year, Tata Motors retained market leadership with 3,42,766 units, while Mahindra and Ashok Leyland recorded 2,84,930 and 1,76,574 units, respectively. VE Commercial Vehicles grew strongly with 83,967 units, and Maruti CV sales rose to 47,837 units. Force Motors, Daimler, SML, and other OEMs contributed to the total, highlighting an overall positive trend for the CV market.
Fuel-Wise Trends
Diesel remained the dominant fuel, accounting for 8.31 lakh units, up 6.2% YoY. CNG and LPG vehicles emerged as the fastest-growing conventional fuel segment, rising 19.9% to 1.19 lakh units due to their cost-efficiency in urban transport. Electric CVs surged 54.2% to 15,606 units, and hybrid vehicles grew 43.6% to 593 units, signaling early adoption of cleaner energy options. Petrol and ethanol CVs fell 19.4% to 43,101 units, while hydrogen-based CVs remained minimal at six units.
Key Insights
- LCVs and MCVs showed strong YoY growth; HCVs grew moderately.
- Electric and CNG vehicles are gradually reshaping India’s commercial transport landscape.
- Infrastructure demand and logistics sector expansion remain key growth drivers.