HomeCommercial VehiclesCV Retail Sales Aug 2024 – Tata, Mahindra, Ashok Leyland, Maruti, Force,...

CV Retail Sales Aug 2024 – Tata, Mahindra, Ashok Leyland, Maruti, Force, Daimler

Tata Truck
Tata Truck

A sharp drop in commercial vehicle retail demand was reported in August 2024 particularly in the urban segment while rural sales saw significant growth

FADA has revealed retail sales results across all segments for August 2024. It was only the 2W segment that showed positive growth on a year-on-year (YoY) basis while PV and CV sales declined both YoY and MoM.

Speaking particularly of the commercial vehicle segment, sales were lower in urban areas by 0.16% YoY and 1.36% MoM while rural demand surged by 0.17% YoY and 1.43% MoM. Overall CV retail sales declined by 6.05% YoY to 73,253 units sold in August 2024 over 77,967 units sold in August 2023 while MoM sales dipped by 8.50% from 80,057 units sold in July 2024.

Automotive Retail Sales Aug 2024
Automotive Retail Sales Aug 2024

CV Retail Sales August 2024 – Tata Motors Leads

CV retail sales declined across all segments. The LCV segment saw its retail sales drop to 42,496 units, a 6.10% YoY and 6.25% MoM decline while MCV sales dipped by 0.58% YoY and 13.85% MoM to 6,137 units. Likewise, HCV sales also fell to 21,221 units in the past month, a 8.19% YoY degrowth from 23,114 units sold in August 2023 while MoM sales slipped by 11.82% from 24,066 units sold in July 2024.

Tata Motors had the highest retail sales last month at 24,817 units. However, this was a YoY decline over 28,198 units sold in August 2023. Market share of the company fell to 33.88% over 36.17% share held in August 2023.

CV Retail Sales Aug 2024
CV Retail Sales Aug 2024

A decline in retail sales was also reported by Mahindra with 18,466 units sold in August 2024 from 19,216 units sold in the same month last year. Mahindra is actively testing the new LCV Pickup Truck that promises to come in with an innovative list of features to rival the Tata Intra and Ashok Leyland Dost. It was Ashok Leyland at No. 3 with 11,955 units sold last month, down from 12,136 units sold in August 2023. However, market share of Ashok Leyland improved from 15.57% to 16.32% on a YoY basis.

VE Commercial Vehicles (VECV), a joint venture between Volvo Trucks and Eicher, also showed positive retail sales results to 6,173 units in the past month. This was a growth of 456 units over 5,717 units sold in August 2023. Improved sales took market share up to 8.43% from 7.33% YoY.

Maruti CV Retail Sales YoY Growth

With the increased demand for Maruti Super Carry, the company noted an increase in YoY retail sales to 3,441 units. This was a growth from 3,277 units sold in August 2023 taking up market share to 4.70%. Daimler sales on the other hand dipped to 1,482 units from 1,503 units YoY while Force Motors also suffered a setback in retail sales which fell to 1,379 units as compared to 1,527 units sold in August 2023.

SML Isuzu experienced a marginal improvement in demand to 900 unit sales in the past month from 895 units sold in the same month last year while there were others on this list that also saw retail sales fall to 4,640 units last month from 5,498 units sold in the same month last year.

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