Commercial Vehicle Sales Fall 4% in May 2026 as LCV Segment Continues Growth Momentum

New Delhi, India, June 1, 2026: The commercial vehicle sector witnessed mixed trends in May 2026, with strong growth in the light commercial vehicle (LCV) segment helping offset weakness in medium and heavy commercial vehicles (M&HCV). Total vehicle sales, including exports, stood at 14,923 units, a decline of 4% compared to 15,484 units sold in May 2025.

Despite the year-on-year decline in monthly volumes, cumulative sales for the first two months of FY2026-27 remained positive at 29,569 units, up 2% from 28,905 units during the corresponding period last year.

Domestic Sales Slip 3% in May

Domestic sales totaled 14,148 units in May 2026, compared to 14,534 units in May 2025, representing a decline of 3%.

The drop was primarily driven by lower demand in the M&HCV segment, particularly buses, although the LCV category continued to deliver robust growth.

For the April-May period, domestic sales reached 28,390 units, up 5% from 27,043 units recorded during the same period in FY2025-26.

M&HCV Segment Faces Pressure

Domestic M&HCV truck sales declined 5% year-on-year to 7,065 units in May 2026, compared to 7,466 units in the same month last year.

The M&HCV bus segment experienced a sharper slowdown, with sales falling 35% to 1,255 units from 1,920 units in May 2025.

As a result, total domestic M&HCV sales dropped 11% to 8,320 units, down from 9,386 units a year earlier.

On a cumulative basis, M&HCV truck sales remained positive at 13,879 units, up 4%, while total M&HCV volumes were down 3% at 16,297 units.

LCV Segment Continues Strong Growth

The standout performer during the month was the LCV category.

Domestic LCV sales increased 13% to 5,828 units, compared to 5,148 units in May 2025. For the April-May period, LCV sales climbed 18% to 12,093 units, highlighting sustained demand from last-mile logistics, e-commerce and urban transportation sectors.

Including exports, LCV sales rose 15% year-on-year to 5,957 units in May.

Export Performance

Including overseas markets, M&HCV truck sales totaled 7,331 units, down 4% year-on-year, while M&HCV bus sales fell 39% to 1,635 units.

Total M&HCV sales, including exports, stood at 8,966 units, representing a 13% decline compared to May 2025.

However, exports and domestic demand combined helped maintain positive cumulative growth for total vehicle sales during the first two months of the financial year.

Sales Performance Snapshot

Domestic Sales – May 2026

Domestic + Export Sales – May 2026