FADA has released CV retail sales for the month of Sep 2022 – Stood at 71,233 units, registered 18.87% YoY growth
Tata Motors recently revamped its commercial vehicle lineup with a slew of new products. This also marked the Indian automaker’s take on stepping up its CV portfolio. We saw value added features like ADAS, driver fatigue monitoring and a lot more. The company even laid emphasis on reducing its carbon footprint with CNG powered trucks and LCVs as well.
Speaking about sales, Tata Motors pushed out 28,615 units last month, up from 24,822 units sold in same month last year. Even with this growth, Tata’s market share in CV segment stood at 40.17%, down from 41.42% in Sep 2021.
CV Retail Sales Sep 2022
At 2nd spot, we have Mahindra & Mahindra with 17,483 units sold. Sales are up 11,678 units YoY. M&M’s market share stood at 24.54%, up from 19.49% in Sep last year. Ashok Leyland takes 3rd spot with 11,284 units, up from 8,476 units sold in Sep 2021. Market share saw a rise from 14.14% in Sep 2021 to 15.84% in Sep 2022.
Commenting on how CV retail sales in Sep 2022 performed, FADA President, Mr. Manish Raj Singhania said, “While the CV segment grew by 19%, it is the HCV segment which showed a healthy growth of 40% YoY. Reasons like better availability of vehicles, festivities, bulk fleet purchases and the Government’s continued push for infrastructure development made this segment shine.”
The top three are the heavy lifters of this segment with a huge sales margin from the remaining CV companies in the list. At 4th place, we have the joint venture between Volvo Group and Eicher Motors Ltd known as VECV (VE Commercial Vehicles). VECV sold 4,638 units, up from 3,808 units sold in Sep 2021 and has a market share of 6.51%.
Next, we have Maruti Suzuki with 3,036 units sold, down from 3,912 units sold in September 2021 with a 6.53% market share which now stands at 4.26% in Sep 2022. Maruti sells Carry LCV, Eeco Cargo van and an ambulance variant of Eeco as well at some point in time. Daimler India sold 1,162 units, down from 1,254 units sold in Sep 2021. Market share was 2.09% in September 2021 which got down to 1.63% in September 2022.
Force Motors Registers Positive Growth
Next on the list is Force Motors with 984 units sold which is up from 861 units YoY. Market share of Force Motors in CV segment is 1.38%. SML Isuzu sold 725 units, up from 585 units sold in September 2021.
Other brands sold 3,306 units in total, down from 4,531 units in September 2021. All-in-all, total CV retail sales for Sep 2022 stood at 71,233 units, up from 59,927 units in Sep 2021 and registered 18.87% YoY growth. When compared to 41,084 units sold in September 2020, we can see 73.38% growth and when compared to 60,939 units in September 2019, we can see 16.89% growth.
