Mahindra & Mahindra Limited reported a 13% year-on-year growth in its trucks and buses business, with total sales reaching 3,018 vehicles in February 2026, compared to 2,671 units in the same month last year.
The company’s commercial vehicle operations include the Mahindra Trucks and Buses Division and SML Mahindra Limited, both of which contributed to the growth during the month.
In the cargo vehicle segment, sales rose to 1,521 units in February 2026, up 12% from 1,364 units a year earlier. Passenger vehicle sales also registered strong growth, increasing 15% year-on-year to 1,497 units from 1,307 units in February 2025.
For the financial year-to-date period ending February 2026, the trucks and buses business recorded total sales of 27,197 vehicles, reflecting a 16% growth compared to 23,530 units in the same period of the previous fiscal year.
Within the Mahindra Trucks and Buses Division, cargo vehicle sales increased 16% year-on-year to 1,035 units, while passenger vehicle sales stood at 480 units, slightly down 1% from the previous year. Overall, the division sold 1,515 vehicles in February 2026, registering a 10% growth compared to 1,383 units in February 2025.
Meanwhile, SML Mahindra posted stronger growth with total sales rising 17% year-on-year to 1,503 vehicles in February 2026. The cargo vehicle segment recorded sales of 486 units, up 4% from the previous year, while passenger vehicle sales jumped 24% to 1,017 units.
Commenting on the industry outlook, Vinod Sahay, Executive Chairman of SML Mahindra Limited and President – Aerospace, Defence, Trucks, Buses and Construction Equipment at Mahindra & Mahindra Limited, said the commercial vehicle industry continues to witness strong momentum. He added that government investments, fleet modernisation and steady freight movement are expected to support demand in the coming months, although geopolitical developments and other external factors remain areas to watch.
