India CV sales Oct ’14: Tata Motors, Ashok leyland, VECV and Mahindra
For the 7 month April-October 2014 period Ashok Leyland M&HCV sales stood at 38953 units over 34913 for the same period in 2013, equating to 12% growth. LCV sales for the same period are at 12% decline with 14741 units sold, down from 16731 units. Total sales for the current FY 2014-14 stand at 53694 units over 51644 units, equating to 4% decline.
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) maintains its leadership position in the Indian tractor industry through October 2014 despite decline. Domestic sales in October 2014 stood at 30,800 units, down from 37532 units during October 2013, equating to 18% decline. Total tractor sales (domestic + exports) during October 2014 stood at 31,907 units, down from 38,263 units in Oct 2013, equating to 175 decline. Exports for the month stood at 1,107 units over 731 units in Oct ’13, equating to 51% growth.
Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. says delayed rains and sowing led to a sluggish industry. Recently launched Arjun Novo tractor has been very well received, and could help drive sales in a challenging environment.
Eicher trucks and buses sold 3052 units in Oct 2014 over 3001 units in Oct 2013, equating to 1.7% growth. In the domestic CV Market ( 5T and Above), Eicher trucks and buses reports sales of 2494 units down from 2637 units in Oct 2013, equating to 5.4% decline. Eicher Trucks and Buses exports stood at 558 units in Oct 2014 over 364 units in Oct 2013, equating to 53.3% growth.
Tata Motors commercial vehicle sales in October 2014 in the domestic market were 27,249 units down from 32,793 vehicles sold in October 2013, equating to 17% decline. LCV sales stood at 16,897 units having declined by 32%, and M&HCV sales of 10,352 units equate to 20% growth over October 2013. M&HCV sales growth are reported at 30% YoY. Other segments such as LCV sales are impacted by stringent financial rates and low consumer sentiment. Tata Motors commercial vehicles cumulative sales in the domestic market for the fiscal is 182,948 units, down by 25% over last year. Cumulative LCV sales is 116,142 units at 34% decline over last year. M&HCV sales at 66,806 units remained flat.