Total commercial vehicle sales in the past month saw a significant YoY increase to 67,696 units, up 89 percent when compared to 35,810 units sold in June 2021. Not only commercial vehicles, it was all categories of 2 wheeler (20 percent), three wheeler (212 percent), passenger vehicles (40 percent) and tractor (10 percent) that saw an improvement in demand.
Besides a YoY increase, the commercial vehicle segment also grew by 4 percent when compared to sales in June 2019, a pre-covid month. On a MoM basis as well there was a marginal increase in CV sales which had stood at 66,632 units in May 2022.
Growth across the commercial vehicle (CV) segment saw LCV sales increase 85.69 percent YoY, MCV sales were up 124.24 percent and HCV sales increased 102.06 percent. This vehicle retail data has been collated as on 04.06.22 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,481 out of 1,616 RTOs.
Tata Motors topped the list with 27,829 units sold in June 2022, up from 14,013 units sold in June 2021. Market share also increased from 39.13 percent to 41.11 percent YoY. Tata Motors has announced a hike in CVs from July 2022. The price hike is in a range of 1.5-2.5 percent depending on model and variant. Mahindra sales of commercial vehicles saw an increase from 9,206 units sold in June 2021 to 15,950 units sold in June 2022. However, market share dipped from 25.71 percent held in June 2021 to 23.56 percent in the past month.
At No. 3 was Ashok Leyland, the flagship firm of the Hinduja Group, with 10,105 units sold in June 2022, up from 4,583 units sold in June 2021. This increase in demand was also due to the slew of CNG product launches over the past quarter. In June 2022, the company unveiled the ecomet STAR 1115 CNG truck. This truck is equipped with a 144 hp turbocharged engine with cylinder capacity ranging from 360 to 480 liters. Ashok Leyland claims that this new CNG truck is capable of best-in-class single-fill range and smoother driving experience.
VE Commercial Vehicles also noted a significant increase in YoY sales to 4,509 units, up from 1,957 units sold in June 2021. Market share surged to 6.66 percent from 5.46 percent. Lower down the order was Maruti Suzuki with CV sales at 2,730 units in June 2022, up from 1,802 units sold in June 2021. Market share however, dipped to 4.03 percent from 5.03 percent held in June 2021.
Daimler India also noted higher CV sales in June 2022 to 1,088 units from 740 units sold in June 2021 with market share dipping to 1.61 percent from 2.07 percent YoY. There were 1,086 units of CV sold by Force Motors in the past month, up from 760 units sold in June 2021, though market share fell to 1.60 percent from 2.12 percent held in corresponding months. SML Isuzu Limited has also seen CV sales increase YoY to 965 percent from 296 percent sold in June 2021. Market share increased to 1.43 percent from 0.83 percent in June 2022.
There were other CV makers in this segment that also added 3,434 units to total sales in June 2022 up from 2,453 units sold in June 2021 while market share dipped to 5.07 percent in the past month from 6.85 percent held in June 2021.