India’s commercial vehicle retail market remains highly concentrated, with a handful of manufacturers controlling the majority of sales in FY2025, according to the latest data from the Federation of Automobile Dealers Associations (FADA).
Tata Motors Leads the Market
Tata Motors retained its position as India’s largest commercial vehicle retailer in FY2025, capturing a 33.46% market share. While that represents a slight dip from 35.69% in FY2024, the company’s wide-ranging portfolio — spanning small commercial vehicles, intermediate trucks, heavy trucks, and buses — continues to give it strong presence across multiple segments.
Mahindra & Mahindra Gains Ground
Mahindra & Mahindra posted a 25.52% retail market share in FY2025, up from 23.94% in FY2024. The automaker’s focus on small commercial vehicles, pickups, and utility-oriented offerings has helped it strengthen its position in last-mile transportation and goods movement.
Ashok Leyland Holds Steady
Ashok Leyland accounted for 16.60% of the market in FY2025, nearly unchanged from 16.64% in FY2024. The company remains a major producer of trucks and buses, serving freight, public transport, and logistics applications across the country.
VE Commercial Vehicles Expands Slightly
VE Commercial Vehicles, which operates the Eicher brand, recorded a 7.53% market share in FY2025, compared with 7.37% in FY2024. The company competes mainly in the medium-duty and heavy commercial vehicle segments.
Maruti Suzuki and Others Round Out the List
Maruti Suzuki held a 4.51% share, up from 4.22%, reflecting the growing importance of compact commercial vehicles for urban and last-mile operations. Daimler India Commercial Vehicles, under the BharatBenz brand, captured 2.06%, while Force Motors and SML Isuzu posted shares of 1.95% and 1.17%, respectively. All other manufacturers collectively accounted for 7.19%.
These figures show that while a few automakers dominate India’s commercial vehicle sector, smaller players continue to hold meaningful positions in specialised niches. For fleet operators and industry watchers, the FADA data provides a clear snapshot of the competitive dynamics shaping the market.
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