Three-wheeler sales up 30%, CVs grow 18% in record Q1 FY27

India's commercial vehicle and three-wheeler industry recorded its strongest ever first quarter performance in FY2026-27, with both segments achieving record sales between April and June 2026. Robust domestic demand, improving financing availability, replacement purchases and strong export momentum helped push volumes to new highs.

Commercial vehicles post highest-ever Q1 sales

Commercial vehicle sales stood at 2,64,831 units during the April to June 2026 quarter, registering an 18.3 per cent year-on-year growth over the 2,23,860 units sold during the same period last year.

The growth was largely driven by the goods carrier segment, which continued to benefit from replacement demand as well as healthy activity in the mining and cement sectors.

Within the medium and heavy commercial vehicle (M&HCV) category, passenger carrier sales declined by 5.3 per cent to 17,539 units from 18,522 units last year. However, goods carrier sales increased by 19.6 per cent to 78,371 units, bringing total M&HCV sales to 95,910 units, up 14.1 per cent.

The light commercial vehicle (LCV) segment also witnessed healthy growth. Passenger carrier sales rose 12.6 per cent to 19,084 units, while goods carrier sales jumped 21.9 per cent to 1,49,837 units. Total LCV sales reached 1,68,921 units, reflecting a 20.8 per cent increase over the previous year.

Exports continue to strengthen

Commercial vehicle exports also posted a strong performance during the quarter. Overseas shipments increased 43.3 per cent year-on-year to around 28,000 units, making it the highest-ever export volume recorded in any first quarter.

The growth was primarily supported by rising demand for pickup trucks across Southeast Asian markets.

Three-wheelers register record quarterly sales

The three-wheeler segment also recorded its best-ever first quarter performance. Total sales reached 2,14,339 units during April to June 2026, representing a 29.7 per cent growth over the 1,65,211 units sold during the corresponding period last year.

Passenger carriers remained the largest contributor, with sales rising 28.4 per cent to 1,74,485 units. Goods carrier volumes grew even faster, climbing 36.3 per cent to 35,436 units.

Electric three-wheelers also continued their upward trajectory. E-rickshaw sales increased 28 per cent to 3,318 units, while E-cart sales registered the highest growth rate of 46.5 per cent, reaching 1,100 units.

Domestic demand remains healthy

The strong performance was supported by increased economic activity across urban and semi-urban regions, along with improved access to vehicle financing, which boosted demand for both passenger and goods-carrying three-wheelers.

In June 2026 alone, domestic three-wheeler sales stood at 77,951 units, highlighting sustained momentum heading into the second quarter of the financial year.

Record exports boost three-wheeler industry

Exports were another key growth driver for the three-wheeler segment. Overseas shipments reached 1.51 lakh units during the April to June 2026 quarter, marking the highest-ever first-quarter export volume and registering a 57.7 per cent year-on-year increase.

Strong international demand for both passenger and goods carriers helped manufacturers achieve record export volumes during the period.

With domestic demand remaining resilient and exports continuing to expand, both the commercial vehicle and three-wheeler segments have started FY2026-27 on a strong note, setting new benchmarks for first-quarter sales.

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