Market Share of Commercial Vehicle Companies in India

Tata Motors: Tata Motors remained the largest player in India’s commercial vehicle retail market in FY2025, recording a 33.46% market share, according to FADA data. Its share declined from 35.69% in FY2024. The company has a broad portfolio covering small commercial vehicles, intermediate trucks, heavy trucks and buses, giving it significant presence across multiple commercial vehicle categories.

Mahindra & Mahindra: Mahindra & Mahindra recorded a 25.52% commercial vehicle retail market share in FY2025, increasing from 23.94% during FY2024, according to FADA figures. Its portfolio includes small commercial vehicles, pickups and other utility-focused offerings. The company’s expanding share reflects its strong presence in segments serving last-mile transportation, goods movement and commercial users.

Ashok Leyland: Ashok Leyland accounted for 16.60% of India’s commercial vehicle retail market in FY2025, according to FADA data. Its share remained broadly stable compared with 16.64% in FY2024. The company is a major manufacturer of trucks and buses, with products serving freight transportation, public mobility, logistics and other commercial applications across different operating environments.

VE Commercial Vehicles: VE Commercial Vehicles recorded a 7.53% commercial vehicle retail market share in FY2025, compared with 7.37% during FY2024. The company operates through the Eicher brand, which offers trucks and buses across several commercial applications. Its presence gives the Indian market another significant player competing in medium-duty and heavy commercial vehicle segments.

Maruti Suzuki: Maruti Suzuki held a 4.51% commercial vehicle retail market share in FY2025, up from 4.22% in FY2024, according to FADA data. Its commercial vehicle presence is concentrated around smaller goods-carrier applications. The company’s position highlights the importance of compact commercial vehicles in India’s transportation ecosystem, particularly for urban and last-mile operations.

Daimler India Commercial Vehicles: Daimler India Commercial Vehicles recorded a 2.06% commercial vehicle retail market share in FY2025, compared with 2.11% in FY2024. Operating under the BharatBenz brand, the company focuses on trucks and buses designed for Indian commercial transportation requirements. Its products compete particularly in medium-duty and heavy-duty commercial vehicle categories.

Force Motors And SML Isuzu: Force Motors recorded a 1.95% commercial vehicle retail market share in FY2025, while SML Isuzu accounted for 1.17%, according to FADA data. Other manufacturers collectively represented 7.19%. Together, these figures show that India’s commercial vehicle market remains concentrated among several major manufacturers while smaller players maintain positions across specialised commercial transportation segments.

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