New Delhi’s commercial vehicle market is revving up engines for growth. January wholesale dispatches hit 99,544 units, surging 27% year-on-year and edging up 1.9% from December, driven by policy boosts and demand revival.
Key driver: The GST slash to 18% since September 2025, which lowered costs and ignited buying. Freight transportation’s uptick has also played a starring role in this sales spike.
M&HCV retail sales roared ahead with 15.4% YoY and 22.1% MoM gains in January; first 10 months of FY2026 show 6.3% progress. LCV retail followed suit at 14.9% YoY for the month and 11.1% over 10 months.
Aggregate figures reveal 11.3% wholesale and 8.5% retail growth for domestic CVs in FY2026’s opening 10 months. Industry watchers predict 7-9% wholesale expansion for the year, moderating to 4-6% in FY2027.
Breakdown includes 7-9% for M&HCV trucks, 9-11% for LCV trucks, and 8-10% for buses. With rural demand firming and urban logistics booming, FY2026 sets the stage for a dynamic year ahead in India’s CV landscape.