Chennai: India’s small commercial vehicle (SCV) segment, which forms the backbone of last-mile transportation, has staged a strong rebound in volumes after nearly two years of slowdown.The SCV segment comprises pick-ups with a gross vehicle weight (GVW) of 2–3.5 tonnes and mini-trucks with a GVW of up to 2 tonnes, and accounts for about 85 per cent of the light commercial vehicle market.For the nine months of FY26, the SCV segment reported growth of 7 per cent to 369,793 units, compared with 345,194 units in the year-ago period. The mini-truck segment recorded a marginal increase to 117,571 units from 116,326 units, while the pick-up segment posted a 10 per cent rise to 252,222 units from 228,868 units in the corresponding period last year, according to data from SIAM.“The third quarter (October–December) saw a significant surge in growth, driven by festive and rural demand, increased construction and infrastructure activity, and improving last-mile logistics. Importantly, the recent GST reduction on commercial vehicles from 28 per cent to 18 per cent, along with lower interest rates, has boosted purchase sentiment, particularly for higher-payload pick-ups,” said Poonam Upadhyay, Director, Crisil Ratings.Electrification is also gaining momentum in the SCV segment, with the entry of new players as well as the launch of electric small trucks by incumbent manufacturers.In the pick-up segment, Mahindra leads the market with a 60 per cent share, followed by Ashok Leyland at 20 per cent. Tata Motors ranks third with an 18 per cent share.Tata Motors, which revolutionised the light truck market with the launch of the Ace—India’s first goods-carrying vehicle in the low-tonnage segment—in 2005, continues to lead the mini-truck segment with a 52 per cent market share. Maruti Suzuki follows with a 24 per cent share through its Super Carry, while Mahindra is the third-largest player with a 23 per cent share.In FY19, total SCV sales (including mini-trucks and pick-ups) stood at 5.15 lakh units, with mini-trucks accounting for 2.35 lakh units and pick-ups contributing 2.80 lakh units. Over the past several years, the segment has witnessed a structural shift towards pick-ups offering payload capacities of more than one tonne, moving away from sub-one-tonne mini-trucks.
