Mahindra & Mahindra Ltd (M&M Ltd) has reported strong sales in its Trucks and Buses business, with total sales including exports reaching 2,912 vehicles in September 2026. The company recorded a 53% year-on-year growth during the month compared with September 2025.
Mahindra’s Trucks and Buses business includes the Mahindra Truck & Bus Division (MTBD) and SML Mahindra Limited (SML). The performance reflects improved buying activity in the commercial vehicle segment, supported by early festive demand, infrastructure activity and steady movement of goods across the country.
Vinod Sahay, Executive Chairman – SML and President – Aerospace, Advanced Technologies, Trucks, Buses & Construction Equipment, M&M, said September was a strong month for the truck and bus segment. He attributed the growth to early festive purchases, continued infrastructure activity and stable freight movement.
The company also noted that the year-on-year growth benefited from a lower base in September 2025. Buying sentiment during the corresponding period last year had been affected by expectations around upcoming regulatory changes, which had an impact on customer purchasing decisions.
The commercial vehicle industry continues to see demand from sectors such as construction, logistics, infrastructure and goods transportation. Increased economic activity and movement of freight have supported demand for trucks and buses across different applications.
Mahindra enters the festive season with a positive outlook for its Trucks and Buses business. However, the company continues to remain mindful of pressures arising from fuel prices and input costs, which can influence operating conditions in the commercial vehicle industry.
The Mahindra Group, founded in 1945, is a multinational business group with around 324,000 employees across more than 100 countries. The group has a presence across farm equipment, utility vehicles, information technology, financial services, renewable energy, agriculture, logistics, hospitality and real estate.
Mahindra has a strong position in India’s farm equipment and utility vehicle markets and is the world’s largest tractor company by volume. The group also focuses on renewable energy, rural development and initiatives aimed at improving urban living. The group continues to work across its businesses with a focus on sustainability, community development and responsible growth. Its stated objective is to contribute to positive change for communities and stakeholders.
