India, April 25 -- The domestic Commercial Vehicle (CV) industry is expected to clock a record overall volume of around 12.4 lakh units this fiscal, surpassing the previous peak of the financial year 2019, ratings agency Crisil said on Friday.

The expected growth in the domestic Commercial Vehicle CV industry follows a strong 13 per cent rebound in the just-concluded financial year.

According to Crisil, the financial year 2026 was marked by a strong domestic recovery, driven by several factors, such as the GST rate cut from 28 per cent to 18 per cent in September 2025, which significantly improved purchase economics.

Additionally, easing of interest rates, improving freight utilisation, and a pickup in infrastructure and mining activit...