Mahindra & Mahindra's Trucks and Buses business experienced a significant sales surge in September 2026, reporting a 53% year-on-year increase. The company sold a total of 2,912 vehicles, including exports, up from 1,904 units in the same month last year.
This robust growth is primarily driven by an early start to festive season purchasing, sustained infrastructure development activities across the country, and consistent freight movement. The figures encompass sales from both the Mahindra Truck & Bus Division (MTBD) and SML Mahindra Limited (SML).
Cargo and Passenger Segments See Strong Gains
The cargo vehicle segment led the growth, with sales soaring by 84% year-on-year to 2,043 units in September 2026, compared to 1,112 units in the previous year. Passenger vehicle sales also saw a healthy increase of 10%, reaching 869 units from 792 units.
Divisional Performance Highlights
- Mahindra Truck & Bus Division (MTBD): MTBD recorded total sales of 1,788 vehicles in September, an impressive 87% increase from 954 units sold in September 2025. Its cargo vehicle sales more than doubled, showing a 106% growth to 1,527 units from 742 units. Passenger vehicle sales for MTBD rose 23% to 261 units.
- SML Mahindra Limited (SML): SML reported total sales of 1,124 vehicles during the month, an 18% increase over 950 units in September 2025. Cargo vehicle sales for SML were up 39% to 516 units, while passenger vehicle sales increased by 5% to 608 units.
Cumulative Sales Show Consistent Growth
For the first half of the current financial year (April-September), Mahindra's combined Trucks and Buses business sold 17,805 vehicles, marking a 22% increase compared to 14,588 units in the corresponding period last year. Cargo vehicle sales for this period grew by 23% to 8,499 units, and passenger vehicle sales rose 21% to 9,306 units.
"September marked a strong month for the truck and bus segment, helped by early festive buying, continued infrastructure activity and steady freight movement," stated Vinod Sahay, Executive Chairman of SML and President of Aerospace, Advanced Technologies, Trucks, Buses and Construction Equipment at Mahindra & Mahindra.
Sahay further noted that the growth also benefited from a lower sales base in the previous year, when buyers delayed purchases due to anticipated regulatory changes. Despite ongoing pressures from fuel and input costs, the company approaches the festive season with "measured confidence."