Commercial Vehicle retail sales noted growth of 16.34 percent YoY with 82,428 unit sales in Jan 2023
FADA has released retail sales data. Commercial Vehicle category has reported growth of 16.34 percent on a YoY basis while it increased 23 percent from January 2021 and 6 percent from January 2020. This segment, along with all others is set to see even more growth in the months ahead thanks to positive announcements made in the 2023-24 Budget. Capital outlay of Rs 10 lakh crores towards infrastructure should boost6 sales of CV even more.
Commercial vehicle sales stood at 82,428 units in Jan 2023, up from 70,853 units sold in Jan 2022. There was growth seen across LCV (12.75 percent) to 48,115 units and across HCV (24.71 percent) to 26,881 units while sales of MCVs dipped 1.58 percent to 4,670 units in the past month, down from 4,745 units sold in Jan 2022. Sales also included 2,762 units under the ‘Others’ category, a growth of 46.99 percent from 1,879 units sold in Jan 2022.
CV Retail Sales Jan 2023
Tata Motors headed this list with sales of 31,847 units in Jan 2023 when it commanded a market share of 38.64 percent. This was a marginal growth over 31,258 units sold in Jan 2022 when market share had been at 44.12 percent.
Tata Motors unveiled Magic EV, Prime e28, ultra e.9 as well as the Hydrogen Fuel Cell truck at the 2023 Auto Expo. At No. 2 was Mahindra with CV sales at 20,609 units in Jan 2023, up from 14,319 units sold in Jan 2022. Market share improved to 25 percent from 20.21 percent YoY.
Ashok Leyland also noted increased YoY sales to 13,372 units up from 10,460 units sold in Jan 2022. Market share improved to 16.22 percent from 14.76 percent held in Jan 2022.
Ashok Leyland had a range of green products on display at the 2023 Auto Expo, powered by electric, CNG and hydrogen options. There was the mini passenger bus Bada Dost Xpress ideally suited for both city and highway travel along with a Hydrogen Internal Combustion Engine (ICE) Vehicle slated to come in with ADAS (Advanced Driver Assistant System).
VECV, Maruti, Daimler CV Sales Jan 2023
At No. 4 was VE Commercial Vehicles with sales of 5,545 units in Jan 2023, up from 4,515 units sold in the same month of the previous year. Next up was Maruti Suzuki with CV retail sales at 3,861 units in Jan 2023, a marginal YoY growth over 3,812 units sold in Jan 2022. Market share however, dipped to 4.68 percent from 5.38 percent on a YoY basis.
Daimler India CV sales improved to 1,789 units last month, up from 1,159 units sold in Jan 2022. Force Motor CV retail sales were at 840 units, up from 532 units sold in Jan 2023 while SML Isuzu Ltd had sales of 704 units in the past month, up from 531 units sold in Jan 2022. There were others in this list that also contributed 3,861 units to total CV retail sales, but suffered a de-growth over 4,267 units sold in Jan 2022.
