November Auto Sales Live: Ashok Leyland CV Sales Rises 32%; M&M Exports Surge 5%

Ashok Leyland November Sales (YoY)

• CV sales at 18,272 units versus NDTV profit estimate of 16,667 units.

• CV sales rise 29% to 18,272 units.

• Domestic CV Sales surged 32% to 16,491 units.

Source: Exchange Filing

• TVS back in leadership with 26% market share in November.

• Bajaj Auto at #2 position with 22% market share in November.

• Ather Energy maintains #3 position for the third consecutive month.

• Ather Energy's market share at 17%.

• Ola Electric slips to its lowest market share at 7%.

• Hero MotoCorp maintains double digit market share for the 5th consecutive month with 10% share in November.

Source: VAHAN

M&M November Sales (YoY)

• PV sales rise 22% to 56,336 units.

• Total sales surges 19% to 92,670 units.

• Exports up 5% to 2,923 units.

• Domestic tractor sales rise 33% to 42,273 units.

• Domestic CV sales rise 17% to 24,843 units.

• Total tractor sales rise 32% to 44,048 units.

• Trucks and buses sales up 57% to 2,232 units.

• Tractor export rises 9% to 1,775 units.

Source: Exchange Filing

VST Tillers November Sales (YoY)

• Total sales rise 129% to 5,166 units.

• Tractor sales up 41.2% to 490 units.

• Power Tillers sales surges 146% to 4,676 units.

Source: Exchange Filing

• Tractor industry channel checks indicate 15%+ growth versus 0–5% consensus, as per DAM Capital.

• Strength driven by robust retail momentum in South and West, especially Maharashtra and AP/TG.

• Retails remain strong across regions, indicating sustained double-digit growth over the next few months despite the high base.

• Stock-outs in North and West during the last two days of October. triggered strong restocking in November

• Financial year 2026 industry growth set to exceed 12%.