India’s CV sales hit 10.8 lakh in FY26 as EV registrations reach 3.5 million
SIAM says domestic commercial-vehicle sales rose 12.6% to a record 10.8 lakh units in FY26, while EV registrations climbed from 1.9 million to 3.5 million. The industry is pushing localisation, alternative fuels and vehicle scrappage under its long-term vision plan.
What happened
Society of Indian Automobile Manufacturers (SIAM) · SIAM said India’s commercial-vehicle sales hit a record 10.8 lakh units in FY26, while EV registrations rose
Key facts
- Commercial vehicle domestic sales: 10.8 lakh units in FY26
- Commercial vehicle sales growth: 12.6% in FY26
- Commercial vehicle exports: 95,000 units, up 3.4%
- Three-wheeler sales: 8.4 lakh units, up 12.8%
- EV registrations: 3.5 million in FY26 versus 1.9 million in FY25
- Imports reduced by more than ₹20,000 crore
- Imports declined 16.6% in FY25 versus FY24
Why this matters
The market’s shift toward electrification, alternative fuels and localization creates partnership and acquisition opportunities in battery ecosystems, charging infrastructure, telematics and scrappage services.
What to watch
- Monthly CV wholesales versus retail registrations, especially medium/heavy trucks and light commercial vehicles.
- Freight volumes, e-way bills, infrastructure-project awards and logistics-sector capacity utilization.
- Commercial vehicle loan delinquency, interest rates and lender approval rates for small fleet operators.
- Charging-station utilization, public fast-charger additions and power-tariff changes.
- Vehicle-scrappage policy implementation, incentive funding and enforcement of end-of-life vehicle rules.
- Domestic battery-cell, power-electronics and alternative-fuel component capacity announcements.
- Diesel, CNG, LNG and electricity price spreads that determine fleet total cost of ownership.
- Increase inventory and service capacity for high-wear CV categories: tyres, filters, lubricants, brake parts, batteries and telematics devices.
- Build fleet-focused offers combining maintenance, financing referrals, insurance, uptime guarantees and scheduled service.
- Prioritize charging, battery-service and driver-convenience formats near freight corridors, logistics parks and dense last-mile delivery zones.
- Expand domestic sourcing and dual-source critical EV/CV components to reduce import exposure and improve availability.
- Develop used-EV inspection, battery-health certification and resale programs as registrations create a larger secondary market.