Mahindra & Mahindra Ltd. has reported a 40% year-on-year growth in its Trucks and Buses business for January 2026, with total sales reaching 3,065 vehicles including exports.
The commercial vehicle segment, covering vehicles above 3.5 tonnes, comprises the company’s Mahindra Trucks & Buses division and SML Mahindra Limited. The performance marks a significant uptick in the company’s heavy commercial vehicle operations.
Vinod Sahay, Executive Chairman of SML and President for Aerospace, Defence, Trucks, Buses & Construction Equipment at M&M, attributed the growth to favorable market conditions. He noted that infrastructure spending, replacement demand, and robust rural activity have been driving the Indian commercial vehicle industry since the previous quarter.
Sahay indicated that the outlook for the fiscal year 2026 remains positive, supported by government investments, fleet modernization initiatives, and sustained freight movement across the country.
The commercial vehicle sector has been experiencing steady demand as economic activity picks up and logistics requirements increase. Infrastructure projects and the need to replace aging fleets have contributed to the sector’s momentum.
Mahindra & Mahindra, founded in 1945, operates across multiple sectors including farm equipment, utility vehicles, information technology, and financial services. The conglomerate employs approximately 324,000 people in over 100 countries and holds a leadership position in the global tractor market by volume.