SML Mahindra Sales March 2026: 1,419 Units, +31.8% YoY

SML Mahindra registered 1,419 vehicles in India in March 2026. Volume climbed sharply 31.8% against March 2025 and grew strongly 23.6% against February. Its best month on record remains June 2026 at 2,261.

Of those, 1,278 were buses (90.1% of the total), +18.6% on March 2025. That figure is exact: it is counted with Vahan's own vehicle-class filter rather than worked out from the company total.

That put SML Mahindra 48th among every manufacturer registering vehicles in India in March 2026, behind Saera Electric on 1,439 and ahead of Revolt Motors on 1,353.

Measured against every vehicle registered in India that month — all segments, all fuels — that is 0.1% of the market, 0.00pp against March 2025.

Across 2026 to date — the 3 months of the year that have closed — the company has registered 3,518 vehicles, +33.5% on the same months of 2025.

63.9% of everything SML Mahindra has registered in 2026 is in buses, and the company holds 8.1% of that segment nationally. Goods carriers is next at 26.0%.

This split is the calendar year to date and cannot be cut to a single month: our Vahan data holds a manufacturer's volume by month, and its volume by vehicle class, but not the two together. Multiplying them would be a guess, so the table stays on the axis where the number is exact.

SML Mahindra has registered no battery-electric vehicles in 2026 in this data.

Fuel, like segment, is published against the manufacturer for the whole year rather than by month, so these shares are 2026 to date. Hybrids are counted separately from battery electrics.

Ranked on total registrations across every vehicle type, which is the finest manufacturer split our Vahan data holds with a month axis. Two-wheeler makers therefore sit above carmakers selling far more value — this is a count of vehicles, not of revenue.

The last 15 months on record. The year-on-year column compares each month against the same month a year earlier; the running month is left without one.