Mahindra’s Trucks & Buses Business sells 3065 vehicles in January, registering a 40% growth
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Mumbai, February 1, 2026: Mahindra & Mahindra Ltd. (M&M Ltd.), today announced that its overall sales including exports in the Trucks and Buses business (CV > 3.5T) for the month of January 2026 stood at 3065 vehicles, a y-o-y growth of 40%.
Mahindra’s Trucks & Buses business comprises of Mahindra Trucks & Buses division (MTBD) and SML Mahindra Limited (SML).
According to Vinod Sahay, Executive Chairman – SML, President – Aerospace, Defence, Trucks, Buses & CE, M&M, “Demand trends across the Indian CV industry have remained healthy, with supportive factors such as infrastructure spending, replacement demand, and strong rural activity driving growth since last quarter. The overall trajectory for FY26 appears robust, underpinned by continued government investments, fleet modernization, and resilient freight movement.”
| Trucks & Buses Business (MTBD + SML) – January 2026 | ||||||
|---|---|---|---|---|---|---|
| Category | January | YTD January | ||||
| F26 | F25 | % Change | F26 | F25 | % Change | |
| Cargo Vehicles | 1642 | 1101 | 49% | 12411 | 10102 | 23% |
| Passenger Vehicles | 1423 | 1091 | 30% | 11768 | 10757 | 9% |
| MTBD + SML Total | 3065 | 2192 | 40% | 24179 | 20859 | 16% |
| Mahindra Trucks & Buses (MTBD) – January 2026 | ||||||
|---|---|---|---|---|---|---|
| Category | January | YTD January | ||||
| F26 | F25 | % Change | F26 | F25 | % Change | |
| Cargo Vehicles | 1142 | 718 | 59% | 8091 | 6949 | 16% |
| Passenger Vehicles | 586 | 449 | 31% | 3416 | 3292 | 4% |
| MTBD Total | 1728 | 1167 | 48% | 11507 | 10241 | 12% |
| SML Mahindra Limited (SML) – January 2026 | ||||||
|---|---|---|---|---|---|---|
| Category | January | YTD January | ||||
| F26 | F25 | % Change | F26 | F25 | % Change | |
| Cargo Vehicles | 500 | 383 | 31% | 4320 | 3153 | 37% |
| Passenger Vehicles | 837 | 642 | 30% | 8352 | 7465 | 12% |
| SML Total | 1337 | 1025 | 30% | 12672 | 10618 | 19% |
About Mahindra
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 3,24,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/newsroom
Media contact information
Nayana Borthakur
Head – Communications
Automotive & Farm Equipment Sector
Mahindra & Mahindra Limited
Email – [email protected]
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