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Combined Commercial Vehicle Sales Grew by 51.81% in Financial Year 2023

News Date 05 Apr 2023

Combined Commercial Vehicle Sales Grew by 51.81% in Financial Year 2023

The 3-wheeler segment again created the maximum gain of 83.90%, selling 7,67,071 in the Financial Year 2023.

The Federation of Automobile Dealers Associations (FADA) has published the domestic sales report for March 2023. This report includes the total sales of 3-wheelers and commercial vehicles. All of the segments of both 3-wheeler and commercial vehicles end the year with positive results. The combined sales stayed at 17,06,812 units in Financial Year 2023, whereas the units sold in FY '22 were 11,24,294. As a result, the sales grew 51.81% in the YoY 2022 change. 

The total sales of the 3-wheeler segment stayed at 7,67,071 units, with a hike of 83.90% against the 4,17,108 units of FY'22. 

In addition, the commercial vehicle segment sold 9,39,741 units in FY '23, whereas the figures for FY'22 for this category were 7,07,186 units and increased by 32.88%.

FADA has also showcased the report of all the categories of three-wheeler and commercial vehicles. So let's take a look at the category-wise sales of both segments. 

Three-Wheeler Segment-Wise Sales Report:-

E-RICKSHAW (P) -  This segment closed this year's sales with 37,373 units which were 20,756 units in the Financial Year 2022, and rose its sales by 80.06%. 

E-RICKSHAW WITH CART (G) - The cart category of the three-wheeler segment performed better than last year. It sold 2338 units in the previous Financial Year, which increased to 3,250 units in this Financial Year, 2023. As a result, the category registered a growth of 39.01%.

THREE WHEELER (GOODS) - This three-wheeler goods category ended FY'23 with 10,541 units. Whereas the numbers of units sold in FY'22 were 8,043, the category observed a hike of 31.06%. 

THREE WHEELER (PASSENGER) - The passenger three-wheelers are one of the most popular categories in this segment. The category sold 20,257 units of vehicles in the last Financial Year, which increased to 35,611 in Financial Year 2023 with an increase of 75.80%.     

THREE WHEELER (PERSONAL) - The personal three-wheeler category of this segment sold 82 units of the vehicle in Financial Year 2023, which was 89 units in Financial Year 2022. As a result, the category experienced a decline of -7.87%. 

Segment-Wise Commercial Vehicle Sales:-

LCV:- The LCV category sold 5,54,585 units of commercial vehicles in FY23, which were 4,38,802 units in Financial Year 2022. The category achieved a hike of 26.39%. 

MCV:- The MCV category registered a growth of 26.69% as it sold 60,818 units in FY'23 against 48,005 units in FY'22. 

HCV:-  The Heavy Commercial Vehicle category has sold 2,93,796 units in the Financial Year 2023. Whereas the sold units of this category in FY '22 were 1,97,365 units. Hence, the HCV category achieved a growth of 48.86%. 

Others:- All the other categories of the Commercial Vehicles segment performed well in FY'23 and sold 30,542 units against the 23,014 units for Financial Year 2022. Also, this category reported a growth of     32.71% units in YoY 2022. 

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