Special focus on infrastructure development by the Government of India has played a major role in boosting sales of commercial vehicles in May 2023
Commercial Vehicle retail sales in May 2023 increased to 77,135 units, up from 71,964 units sold in May 2022. Sales growth was seen across both MCV, HCV and others while sales in the LCV segment dipped YoY.
LCV sales fell to 41,149 units in the past month, down 2.44 percent from 42,176 units sold in May 2022. MCV (6,047 units) and HCV (26,399 units) increased by 26.82 percent and 15.14 percent respectively. Others in the segment also saw a 69.14 percent YoY growth in retail sales to 3,540 units when compared to 2,093 units sold in May 2022.
CV Retail Sales May 2023
Tata Motors topped the list with CV retail sales of 26,419 units in May 2023, down from 29,173 units sold in May 2022. Market share dipped to 34.25 percent from 40.54 percent. Tata Motors had sold 33,120 units in April 2023.
Retail sales of Mahindra improved to 17,192 units in May 2023 from 15,636 units sold in May 2022 taking up market share to 22.29 percent from 21.73 percent. Mahindra had launched the Bolero MaXX Pik-up in April 2023. It is offered in two series of HD Series and City Series, priced from Rs 7.85-10.33 lakh which has been well received in its segment.
At No. 3 was Ashok Leyland with 13,807 unit retail sales in the past month, up from 11,388 units sold in May 2022. A sales growth from 4,839 units in May 2022 to 7,040 units in May 2023 was reported by VE Commercial Vehicles. Market share also improved to 9.13 percent from 6.72 percent YoY.
Maruti Suzuki CV retail sales grew to 3,466 units in the past month from 3,166 units sold in May 2022. IN April 2023, the company introduced the new Super Carry. It is priced from Rs 5.3 lakh – Rs 6.30 lakh and is presented in both petrol and CNG variants and offers better comfort, safety and fuel efficiency as compared to its earlier counterpart.
Daimler, SML Isuzu, Force Motors
Lower down the sales list was Daimler India with retail sales of 1,807 units in May 2023, up from 1,193 units sold in May 2022. Market share also improved to 2.34 percent from 1.66 percent YoY.
Isuzu Ltd retail sales of CVs went up to 1,212 units in the past month from 867 units sold in May 2022 while Force Motor sales improved but marginally to 1,188 units in May 2023 from 1,172 units sold in May 2022. There were other OEMs on this list contributing 5,004 units to total CV retail sales in May 2023 as against 4,530 units sold in May 2022.
