Weak sales across the transportation segment coupled with stricter finance norms and pricing pressures led the commercial vehicle (CV) segment to post declining sales both on a YoY and MoM basis in Feb 2025
A recent report from Federation of Automobile Dealers Associations (FADA) has revealed that the entire auto industry has faced a steep decline in demand in February 2025. The 2W segment dipped by 6% while 3W retail sales were down 2%. Passenger vehicle sales dived 10% while commercial vehicle (CV) sales were lower by 8.6% on a YoY basis.
On a YoY basis, CV retail sales dipped 8.60% to 82,763 units, down from 90,551 units sold in Feb 2024. It was also a 16.76% MoM de-growth from 99,425 unit sales of Jan 2025. While other segments improved on a year-to-date (YTD) basis, the CV segment saw a 0.51% decline in the April’24 to Feb’25 period to 9,13,322 units from 9,18,004 units sold in the same period of the previous year.
CV Retail Sales Feb 2025
Commercial vehicle retail sales dipped to 82,763 units last month with de-growth seen across all segments. LCV sales fell by 7.35% to 45,742 units while MoM sales were also lower by 18.91% over 56,410 units sold in Jan 2025. MCV sales dived by 5.32% YoY and 10.94% Mom to 6,212 units while HCV sales were down 11.49% and 13.20% YoY and MoM respectively to 26,094 units. Others in this segment also accounted for lower sales, down to 4,715 units.
OEM-wise Breakup of CV Retail Sales
Tata Motors once again led the segment with 26,925 unit sales last month. Currently commanding a 32.53% market share, the company recorded a YoY decline from 32,555 unit sales of Feb 2024. It was also a MoM de-growth as Tata had reported its highest sales in Jan 2025 at 31,393 units.
Mahindra was at No. 2 with 21,149 unit sales and a 25,55% market share. This was a marginal decline from 21,275 unit sales of Feb 2024. It also related to a MoM de-growth from 27,523 units sold in Jan 2025. At No. 3 was Ashok Leyland with 14,393 unit retail sales last month. This related to a steel decline from 15,408 unit sales of Feb 2024 and 15,748 units in Jan 2025.
CV Sales Growth – VE, Maruti Suzuki
On the other hand retail sales of CV improved for VECV, a joint venture between Volvo Group and Eicher Motors. Sales stood at 6,268 units in the past month, up from 6,127 units sold in Feb 2024, a volume growth of 141 units. Market share too improved to 7.57% from 6.77% on a YoY basis.
Maruti Suzuki too saw its CV retail sales rise to 3,669 units last month, up from 3,347 unit sales of Feb 2024. This related to a volume growth of 322 units. Market share went up to 4.43% from 3.70% YoY. Retail sales of CVs declined for both Force Motors and Daimler, down to 1,762 units and 1699 units respectively. While Force Motors saw a dip in market share to 2.13% from 2.27% YoY that of Daimler stated at 2.05%.
SML Isuzu too had improved demand in Feb 2025 with 812 unit retail sales, up from 774 units sold in the same month last year. Its MoM sales too improved dramatically from 690 unit sales in Jan 2025. Other OEMs added 6,086 units to total CV retail sales, down from 7,145 units sold in Feb 2024.
