Executive Summary
India's commercial vehicle market recorded 0 unit sales in February 2026, representing a None% month-on-month change. N/A maintained market leadership with 0% market share. The LCV segment continued to show strong momentum driven by e-commerce and last-mile logistics demand.
Market Overview — February 2026
| Segment | February 2026 | Prev Month | MoM | YoY |
|---|---|---|---|---|
| BUS | 11,151 | 10,794 | +3.3% | — |
| LCV | 29,277 | 29,321 | -0.2% | — |
| MHCV | 28,551 | 25,328 | +12.7% | — |
| SCV | 8,097 | 7,536 | +7.4% | — |
| Total | 77,076 | 72,979 | +5.6% |
OEM Performance
Market Share Distribution
OEM Sales & Growth
Segment Analysis
State-wise Performance
Top States by Sales Volume
| # | State | Sales | MoM |
|---|---|---|---|
| 1 | Uttar Pradesh | 10,520 | -95.8% |
| 2 | Maharashtra | 9,757 | -95.8% |
| 3 | Gujarat | 7,542 | -95.8% |
| 4 | Tamil Nadu | 6,773 | -95.8% |
| 5 | Rajasthan | 6,051 | -95.8% |
| 6 | Karnataka | 5,293 | -95.8% |
| 7 | Madhya Pradesh | 4,496 | -95.8% |
| 8 | Andhra Pradesh | 3,754 | -95.8% |
| 9 | West Bengal | 3,711 | -95.9% |
| 10 | Telangana | 2,977 | -95.9% |
Market Trends
Electric three-wheelers now dominate new registrations in major cities.
National Highway construction activity boosted tipper and MHCV demand.
SUVs now account for over 45% of passenger car sales driven by customer preference.
Last-mile logistics growth continues to fuel demand for light commercial vehicles.
Electric small commercial vehicles saw growing adoption in metro cities.
Premium motorcycles (>150cc) showing strong growth momentum.
GPS-enabled and precision farming tractors seeing increased demand.
Better credit availability supporting tractor purchases in key states.
Mandatory safety norms driving replacement demand in entry segments.
Electric scooters witnessing rapid adoption in urban markets.
CNG three-wheelers gaining share in goods transportation segment.
Two-wheeler demand in rural markets showing signs of recovery.
Ride-hailing platforms driving organized fleet demand.
Electric vehicles gaining traction in premium segment with new launches.
Tractor exports to Africa and ASEAN showing strong growth.
Prediction & Outlook
Looking ahead to March, the commercial vehicle market is expected to maintain positive momentum driven by infrastructure spending, fleet replacement cycles, and continued logistics expansion. Financial year-end purchases may provide additional tailwinds in the March quarter.
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