Bajaj CV Segment Records 21% Domestic Growth in November 2025

Bajaj strengthened its position in the commercial-vehicle space during November 2025. The company reported 45,006 domestic CV sales, which exceeded the 37,243-unit figure recorded in November 2024. This rise of 21% YoY indicated expanding demand in last-mile mobility and renewed activity among small operators. Dealers also observed faster inquiries and more confident purchase decisions, which helped the market recover.

Domestic Growth Driven by Core Demand

Bajaj gained traction because its three-wheeler range stayed relevant for essential movement. Operators relied on these vehicles due to low running costs, consistent mileage and dependable support. The demand came mainly from intra-city deliveries, shared-mobility routes and small goods transport. These sectors, as they grew, pushed the sales of Bajaj CV upwards.

The market also responded to stable fuel pricing, simpler financing and wider availability of replacement parts. This helped buyers commit to new vehicles with less hesitation. Many entry-level logistics businesses resumed fleet expansion, further supporting this uptrend.

Exports Strengthened the Overall Performance

Exports experienced a huge increase while the domestic market climbed steadily. In November 2025, Bajaj exported 28,553 CV units, compared to 16,321 CV units in November last year, representing an overall increase of 75% YoY. Bajaj’s acceptance of its vehicles was evidenced by strong demand in Africa, Latin America and Southeast Asia, where consumers are increasingly gravitating towards compact, strong, durable and low-maintenance vehicles.

The increase in export volume contributed to Bajaj's continued momentum. In November, Bajaj sold 73,559 CV units (domestically and internationally), reflecting a growth rate of 37% from the previous year. The compound annual growth rate across both markets illustrates a company that continues to perform well in both its domestic and international business analysis, thus validating its international market strategy.

Impact on Total Company Sales

The commercial-vehicle segment played a stabilizing role in the company's wider performance. According to recent market updates, Bajaj's total sales-two-wheelers plus CVs-registered an 8% YoY growth in November 2025. The weaker two-wheeler demand did not weigh heavily on the final outcome since the CV division compensated through robust domestic and export results. Such a shift emphasized the increasing strategic relevance of the Bajaj commercial vehicles business.

Market Interpretation and Sector Trends

The broader India CV market showed signs of revival and Bajaj's November figures reflected this change. At the same time, demand for compact and fuel-efficient vehicles increased across multiple transport categories. Last-mile networks expanded rapidly, driven by growth in e-commerce, strong intra-city trade and wider shared mobility penetration. These structural improvements supported consistent buyer interest.

Operators preferred vehicles with predictable costs, long operating cycles and easy maintenance. The company met such requirements of the operators through its well-established dealer network and its range of reliable products. The company consequently benefited from a favourable shift in market preference.

Outlook for the Coming Quarter

Bajaj entered the last phase of this financial year with good momentum. Stability in domestic demand, coupled with sustained export traction, suggests a positive outlook as early as 2026. If macro-economic conditions do not change, the company is likely to hold onto this trajectory. Summing up, Bajaj posted a 21% increase in domestic CV sales, improved exports by 75% and recorded an overall YoY increase of 37% in November 2025. 

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