CMV360 Weekly Wrap-Up | 31st March – 5th April 2025: Mahindra & Sonalika Post Record Tractor Sales, Daimler Invests in EV Charging, PM-KISAN 20th Installment Update, and Swaraj Launches Punjab’s Biggest Solar Project

Welcome to the CMV360 Weekly Wrap-Up for March 31 – April 5, 2025, featuring the biggest developments from India’s commercial vehicle, electric mobility, and agricultural sectors.

This week, Mahindra and Sonalika Tractors posted record-breaking sales for FY25, highlighting strong rural demand. Daimler Buses took a strategic leap by acquiring a 49% stake in SINOS to enhance the EV charging infrastructure. Meanwhile, the central government gears up to release the 20th installment of the PM-KISAN scheme, urging farmers to complete e-KYC and check beneficiary status.

On the sustainability front, Swaraj Tractors and Mahindra Susten unveiled Punjab’s largest solar captive project, set to power 50% of Swaraj’s manufacturing units. In the EV space, Mahindra Last Mile Mobility retained its leadership in electric three-wheelers, while Switch Mobility led electric bus sales for March 2025.

Stay tuned as we break down all the top stories shaping India’s vehicle and agri-tech industries this week.

Daimler Buses Acquires 49% Stake in SINOS to Enhance Smart Charging Solutions

​Daimler Buses has acquired a 49% stake in SINOS GmbH to boost its electrification plans. SINOS offers smart charging software for electric buses, already used by over 20 operators in Europe. This investment enhances Daimler’s digital transport solutions, including depot digitalization and fleet management. It supports the company’s goal of CO₂-free mobility, with plans to offer only electric or hydrogen buses in Europe and Latin America by 2030, and a full shift to CO₂-free buses in Europe by 2039.

Ashok Leyland Sales Report March 2025: Reports 4% Growth in Domestic Sales

​Ashok Leyland reported a 3% rise in total sales in March 2025, selling 20,041 units versus 19,518 in March 2024. Domestic sales grew 4%, led by a 9% rise in M&HCV sales, while LCV sales fell 5%. Export sales dropped 23%, with a 69% decline in M&HCV exports, though LCV exports rose 18%. The domestic market continues to show strength, especially in heavy trucks, while exports face headwinds.

Atul Auto Reports Strong Sales Performance for March 2025 and FY 2024-25

​Atul Auto reported strong growth in March 2025, with 3,693 units sold, up 18.06% from March 2024. IC engine three-wheeler sales rose 32.36%, while EV-L5 sales surged 475%. However, EV-L3 sales droppedby  42.94%. For FY 2024-25, total sales rose 30.62% to 34,012 units, driven by the IC engine and EV-L5 segments. Domestic sales rose 17.50% in March and 29.32% for the full year. The company’s consistent growth shows its strong position in both traditional and electric three-wheeler markets.

Mahindra Sales Report March 2025: Experienced Growth of 21% in Domestic CV Sales

​Mahindra & Mahindra reported a 21% growth in domestic commercial vehicle sales for March 2025, with 31,703 units sold versus 26,209 in March 2024. The LCV 2T–3.5T segment grew 23%, and three-wheeler sales surged 47%. However, LCV <2T and LCV >3.5T + MHCV segments saw declines of 12% and 4%, respectively. Export sales jumped 163% to 4,143 units. The strong growth in key segments highlights Mahindra’s adaptability and market alignment, though certain areas may need strategic improvements.

Electric Buses Sales Report March 2025: Switch Mobility Emerges as Top Choice for E-Buses

Electric bus sales in India dropped to 277 units in March 2025 from 307 in February and 414 in March 2024. Switch Mobility led the market with 113 units sold, marking a 28.4% growth. Olectra Greentech and AeroEagle Automobiles followed, with AeroEagle posting a 133.3% growth. Meanwhile, PMI Electro Mobility and Tata Motors saw sharp declines, down 56% and 42.9%, respectively. Despite the dip, growth from select brands shows resilience in the segment amid ongoing market challenges.

VECV Sales Report March 2025: 12,094 Units Sold; Sales Grew by 7.6%

​VECV reported a 7.6% sales growth in March 2025, selling 12,094 units versus 11,242 in March 2024. Eicher Trucks saw a 1.9% rise, driven by a 3.9% boost in heavy-duty trucks, while light and medium-duty sales dipped slightly. Exports surged by 30.08%, with strong gains in both LMD and heavy-duty segments. However, Volvo Trucks sales declined by 5.47%. Despite mixed performance, VECV's export momentum and heavy-duty truck sales highlight its growing footprint in the commercial vehicle space.

Mahindra Last Mile Mobility Leads Electric Commercial Vehicle Market for Fourth Year

​Mahindra Last Mile Mobility Limited (MLMML) retained its leadership in India’s electric commercial vehicle space for the fourth straight year in FY25 with a 37.3% L5 market share. Key models like the Treo and Zor Grand helped boost EV adoption to 24.2%. MLMML crossed 200,000 EV sales and launched the Mahindra ZEO, its first electric four-wheeler SCV. With a strong portfolio and innovative launches, MLMML continues to lead the shift toward electric mobility in the last-mile segment.

Tata Motors registered 41,122 Commercial Vehicle Sales in March 2025

Tata Motors reported domestic CV sales of 38,884 units in March 2025, a 4% drop from 40,712 units in March 2024. HCVs, ILMCVs, and passenger carriers saw minor growth, while SCV cargo and pickup sales declined 17%. Total CV sales stood at 41,122 units, down 3% YoY. However, international business grew strongly by 44%, reaching 2,238 units. Tata’s future outlook remains positive with its push toward hydrogen trucks and electric buses.

Electric Three-wheeler Sales Report March 2025: YC Electric Emerges as Top Choice

​India’s electric 3-wheeler market showed mixed results in March 2025. E-rickshaw sales rose to 36,094 units (up from 32,358 in Feb 2025) but declined 3.3% YoY. YC Electric led the segment with 3,005 units. Meanwhile, e-cart sales surged to 7,222 units, up 41.7% YoY. Atul Auto saw a massive 273% rise in e-cart sales. The trend highlights the growing demand for e-carts in urban logistics, while e-rickshaws face slight market pressure.

Bajaj Auto Sees 1% Growth in March Sales, Strong Export Performance

Bajaj Auto reported a 1% YoY growth in total sales for March 2025, reaching 369,823 units. Export sales rose by 2%, with 148,349 units shipped. Domestic sales remained flat at 221,474 units. CV exports jumped 11% to 16,276 units. For FY25, Bajaj sold 4.65 million units, up 7% YoY, driven by 14% export growth. Exports now form 40% of total sales, reflecting the brand’s strong global expansion despite modest local growth.

Electric 3W L5 Sales Report March 2025: MLMM Emerges as Top Choice

India’s E3W L5 market saw contrasting trends in March 2025. Passenger E3W sales rose to 13,539 units from 11,907 in February. Top performers included Mahindra (5,330 units) and Bajaj Auto (4,754 units). However, cargo E3W sales declined YoY to 2,701 units from 6,573 in March 2024. Bajaj Auto and Mahindra led growth in this segment too, while Omega Seiki saw a steep drop. Despite the cargo dip, the overall market shows promise with consistent monthly growth.

Escorts Kubota Tractor Sales Report March 2025: 10,775 Tractors Sold, 15.2% Growth

Escorts Kubota posted a 15% YoY growth in March 2025, selling 11,374 tractors. Domestic sales rose to 10,775 units, while exports hit 599 units. Strong demand during Chaitra Navratri and positive agri conditions supported growth. Q4 FY25 sales reached 26,633 units (up 7.6%), and FY25 sales touched 1,15,554 units, registering 1% growth.

Mahindra Tractors March 2025 Sales: 32,582 Units Sold, 34% Growth

Mahindra recorded 34% YoY growth in March 2025, selling 34,934 tractors. Domestic sales stood at 32,582 units, while exports rose 35% to 2,352 units. FY25 total sales reached 4,24,641 units with a 12% increase, marking Mahindra’s highest-ever annual tractor sales. Strong rabi harvest and festive demand drove this growth.

VST Tractor Sales Report for March 2025: Power Tillers See Big Growth, Tractor Sales Decline

VST Tillers Tractors sold 7,892 units in March 2025, up 63.63% YoY. Power tiller sales soared 77.81% to 7,221 units, while tractor sales dipped 11.94% to 671 units. YTD sales rose slightly by 1.71%, with power tillers up 2.23% and tractors down 1.87%, showing strong growth in tillers but a dip in tractor demand.

Sonalika Tractors Achieves Record-Breaking Sales of 1,53,764 Units in FY'25

Sonalika Tractors achieved its highest-ever domestic sales in FY’25 with 1,53,764 units sold, capturing 14.8% market share. The company also made it to the Fortune 500 India list, highlighting its strong industry presence. Sonalika credits teamwork, innovation, and customer focus for the milestone and aims for further growth in FY’26 with advanced tractor launches tailored for Indian farmers.

PM Kisan 20th Installment 2025: Check Payment Date, List & eKYC Now

The 20th PM-KISAN installment is expected to be credited in June 2025. Eligible farmers must complete e-KYC and check the beneficiary status on pmkisan.gov.in to ensure timely receipt of Rs 2,000. The last installment was released in February. Incomplete e-KYC, incorrect bank details, or Aadhaar mismatches may delay payments.

Swaraj Tractors and Mahindra Susten Launch Punjab’s Largest Solar Captive Project

​Swaraj Tractors and Mahindra Susten have inaugurated Punjab’s biggest 26-MW solar captive project in Bathinda. This clean energy plant will supply 50% of Swaraj’s power needs across four manufacturing units, reducing 54,600 tonnes of CO₂ annually. The project supports Mahindra Group’s sustainability goals and strengthens green innovation in tractor manufacturing.

Also Read: CMV360 Weekly Wrap-Up | 24th – 29th March 2025: Mahindra’s Price Hike, Cityflo’s Fleet Expansion, Trackon’s South India Growth, Wardwizard’s EV Push, ADAS Mandate, Ashok Leyland’s ₹700 Cr Defence Order, and More

CMV360 Says

That’s a wrap for this week’s top highlights from the world of mobility and agriculture. From record-breaking tractor sales by Mahindra and Sonalika to major strides in clean energy and electric mobility, the industry continues to move toward a smarter, greener, and more efficient future.

As the PM-KISAN 20th installment nears, farmers are urged to act quickly on e-KYC and beneficiary checks. Meanwhile, partnerships like Daimler-SINOS and Swaraj-Mahindra Susten show how innovation and sustainability are shaping tomorrow’s transport and manufacturing sectors.

Stay connected with CMV360 for more in-depth updates, trends, and insights driving India’s mobility transformation.