For FY20-21 vehicle registrations fell to below FY12-13 levels, the lowest in 8 years
In FY 2021, total vehicle retail sales dipped 30 percent to 1.52 crore units, making it the year of lowest sales in 8 years. FADA reports state that all vehicle segment suffered a de-growth with the exception of the Tractor segment which grew 16.11 percent to 6.44 lakh units.
2 wheeler sales fell 31.51 percent to 1.15 crore units while passenger vehicle retails dipped 14 percent to 23.86 lakh units and 3 wheeler retails fell 64 percent to 2.58 lakh units. Every commercial vehicle manufacturer noted de-growth both in terms of FY21 sales as compared to FY20 sales and in terms of MoM sales April 2021 over that of March 2021.
YoY Commercial Vehicle Sales
Commercial vehicle retails suffered a de-growth of 49 percent to 4,48,854 units in FY21 from 8,81,114 units sold in FY20. Tata Motors headed the list with 1,63,042 units retailed in FY21, down from 3,72,752 units retailed in FY20. This was a 56.26 percent de-growth while the CV maker currently commands a 36.32 percent market share. Tata Motors offers a wide range of CVs among which are the more popular Prima, Intercity coach, Tarmac coach, Venture, Ace, School Bus and other commercial vehicles.
Mahindra also noted a dip in CV retails in FY21, down 1 percent to 1,29,005 units, from 2,18,660 units retailed in FY20. The Mahindra CV range consists of the Jeeto, Bolero Maxitruck Plus, Alfa Load, Bolero Pikup ExtraStrong and Bolero Camper, with prices starting from Rs 1.26 lakh for the E-Alfa mini going up to Rs.48.84 lakhs for the most expensive Truck in Mahindra lineup called the Blazo X 35 8×4 Tipper.
Retail sales of Ashok Leyland fell 56.44 percent in FY21. CV sales which had stood at 1,33,167 units in FY20 dipped to 58,06 units in FY21. Ashok Leyland has recently added the new AVTR 4120 – 40.5 Ton GVW 4 Axle Truck to its lineup.
Other commercial vehicle makers that also suffered de-growth were Maruti, VEC and Daimler while Force Motors and Isuzu suffered the maximum de-growth in FY21 of 70.56 percent and 66.96 percent respectively.
CV retail sales MoM dip 23.65 percent
MoM retails also saw de-growth across the segment with total retails down 23.65 percent with 51,436 units sold in FY21, down from 67,372 units sold in FY20. Tata Motors was the only automaker able to cross the 10,000 unit mark with April 21 sales at 21,801 units, down from 28,821 units sold in March 21, suffering de-growth of 24.36 percent and commanding a market share of 42.38 percent.
Mahindra MoM retails dipped 17.23 percent to 9,773 units in April 21, down from 11,807 units sold in March 21. Similarly, Ashok Leyland suffered de-growth of 15.91 percent with 8,185 units sold in the past month while VECV, Maruti and Daimler experienced lower retails of CV by 18.85 percent, 35.76 percent and 13.40 percent respectively.
Force Motors was the only CV maker to report positive retail sales in April 21 which stood at 541 units, up 34.58 percent over 402 units sold in March 21. There were other CV makers on the list but they too experienced negative MoM growth down 39.05 percent to 3,575 units retailed in April 21, down from 5,865 units sold in March 21.