New Delhi, Feb. 24 -- The Indian commercial vehicle (CV) industry continued to report robust year-on-year (YoY) volume growth in January 2026, with domestic wholesale volumes rising 27 per cent to 99,544 units.

As per ICRA, this performance also reflected a "sequential growth of 1.9 per cent over the 97,682 units recorded in December 2025." The surge in volumes was primarily driven by the reduction in the Goods and Services Tax (GST) rate from 28 per cent to 18 per cent, which became effective on September 22, 2025, and was further supported by increased freight activity in the goods segment.

Retail volumes in the medium and heavy commercial vehicle (M&HCV) segment witnessed a healthy growth of 15.4 per cent on a YoY basis in January 20...