Mahindra’s Trucks & Buses Business Sells 2,838 Vehicles in October 2026, Up 40%

Cargo Vehicle Sales Jump 62% as Festive Demand Lifts the Business

Mumbai: Mahindra & Mahindra Ltd. (M&M Ltd.) sold 2,838 vehicles in its Trucks and Buses business (CV above 3.5T) in October 2026, including exports. This is 40% more than last year. Cargo vehicles led the way with a 62% rise. The business includes the Mahindra Truck & Bus division (MTBD) and SML Mahindra Limited (SML).

Combined Sales of MTBD and SML

Cargo vehicle sales rose from 1,255 to 2,036 vehicles. In addition, passenger vehicle sales grew 3%. Since April, the business has sold 20,643 vehicles, which is 24% more than last year.

Trucks & Buses Business (MTBD+SML) – October 2026

Category	October F27	October F26	October % Change	YTD October F27	YTD October F26	YTD % Change
Cargo Vehicles	2036	1255	62%	10535	8139	29%
Passenger Vehicles	802	779	3%	10108	8483	19%
MTBD + SML Total	2838	2034	40%	20643	16622	24%

Sales by Each Division

Mahindra Trucks & Buses (MTBD)

MTBD had a very strong month. Its cargo vehicle sales doubled, up 101%. Passenger vehicles also grew 19%. As a result, MTBD’s total sales reached 1,773 vehicles, up 82%.

Mahindra Trucks & Buses (MTBD) – October 2026

Category	October F27	October F26	October % Change	YTD October F27	YTD October F26	YTD % Change
Cargo Vehicles	1504	748	101%	7469	5210	43%
Passenger Vehicles	269	227	19%	2769	2208	25%
MTBD Total	1773	975	82%	10238	7418	38%

SML Mahindra Limited (SML)

SML’s month was steadier. Its cargo vehicle sales rose 5%. However, passenger vehicle sales fell 3%. Overall, SML sold 1,065 vehicles, up 1%. Even so, its passenger vehicles are up 17% since April, so the year still looks good.

SML Mahindra Limited (SML) – October 2026

Category	October F27	October F26	October % Change	YTD October F27	YTD October F26	YTD % Change
Cargo Vehicles	532	507	5%	3066	2929	5%
Passenger Vehicles	533	552	-3%	7339	6275	17%
SML Total	1065	1059	1%	10405	9204	13%

What the Company Leader Said

Vinod Sahay is Executive Chairman – SML and President – Aerospace, Advanced Technologies, Trucks, Buses & CE, M&M. He explained the growth in these words: “October sustained the strong momentum built through Q2, supported by festive season demand, healthy freight movement and continued infrastructure-led activity across key sectors. While rising commodity and input costs warrant close monitoring, the underlying demand drivers, including infrastructure investments, replacement demand and economic activity, provide confidence in the outlook for the months ahead.”

About Mahindra

Mahindra Group started in 1945. Today it has 3,24,000 employees in over 100 countries. It leads in farm equipment, utility vehicles, information technology and financial services in India. It is also the world’s largest tractor company by volume. In addition, it has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The Group aims to lead in ESG worldwide, support rural growth and improve city living. Its goal is to help communities and stakeholders Rise.