While Tata Motors topped the CV retail sales list in July 2023, it has reported a YoY de-growth
In the ever-evolving landscape of the Indian automobile industry, the Federation of Automobile Dealers Associations (FADA) has released the eagerly awaited commercial vehicle (CV) retail sales numbers for July 2023. This data provides invaluable insights into the performance of key players in the CV market, offering a year-on-year (YoY) and month-on-month (MoM) comparison.
These figures, gathered in collaboration with the Ministry of Road Transport & Highways, Government of India, have been meticulously collected from 1,351 out of 1,437 Regional Transport Offices (RTOs) across the country. The CV segment is further subdivided into Light Commercial Vehicles (LCV), Medium Commercial Vehicles (MCV), Heavy Commercial Vehicles (HCV), and others including Construction Equipment Vehicles (CEVs).
CV Retail Sales July 2023
Commercial vehicle sales in July 2023 has seen growth across the MCV and HCV segments on a YoY basis while LCV sales dipped. Total CV sales stood at 73,065 units in July 2023, up 2.02 percent from 71,619 units sold in July 2022 while MoM sales fell by 0.20 percent from 73,212 units sold in June 2023. This included 43,236 units of LCVs sold last month, down 3.21 percent from 44,672 units sold in July 2022. MCV sales increased by 16.01 percent to 6,182 units from 5,329 units YoY while HCV sales stood at 20,581 units in the past month, up 4.52 percent YoY from 19,691 units sold in July 2022.
Tata Motors has reported a YoY de-growth in retail sales in July 2023. Total sales last month stood at 26,635 units, down from 28,451 units sold in July 2022. Market share dipped to 36.45 percent from 39.73 percent YoY. Tata Motors however, posted a marginal MoM growth from 20,033 units sold in June 2023. Every other OEM has reported a YoY growth in CV retail sales. Mahindra sales went up marginally to 17,582 units in July 2023 from 17,294 units sold in July 2022.
Ashok Leyland sales stood at 11,600 units in the past month, a growth over 10,760 units sold in July 2022. Volvo Eicher Commercial Vehicles (VECV) also saw a growth in retail sales to 5,288 units, up from 4,750 units sold in July 2022 while Maruti CV sales went up to 3,315 units in the past month relating to a YoY growth over 2,921 units sold in July 2022.
Force Motors, Daimler, SML Isuzu
Lower down the order were Force Motors with 1,665 units sold last month. YoY growth was over 1,213 units sold in July 2022. Daimler also saw a significant increase in retail sales to 1,493 units sold in July 2023 from 878 units sold in July 2022. Isuzu retail sales also went up to 1,135 units in July 2023 from 986 units sold in July 2022. There were other commercial vehicle makers that added 4,352 units to total retail sales in July 2023, down marginally from 4,366 units sold in July 2022.
July 2023 CV retail sales data demonstrates the dynamic nature of the Indian CV market. While some players experienced marginal dips, others saw impressive growth, highlighting the industry’s ability to adapt to changing circumstances. As the economy evolves and the demand for commercial vehicles continues to fluctuate, these insights provide crucial information for industry stakeholders to make informed decisions and strategies.
