Commercial Vehicle Retail Sales Grew by 16.34% in January 2023

Tata Motors sold 31,847 units of commercial vehicles, whereas Force motors recorded the highest rise of 57.89% in the January 2023 report. 

The Federation of Automobiles Dealers Association (FADA) has launched the retail sales of all commercial vehicle manufacturers. As a result, almost all the OEMs have sales on the positive side, whereas some have negative sales. The total sales of all OEMs in January 2023 was 82,428 units which were 70,853 units in January 2022. The segment registered a YoY% sales growth of 16.34% this month. 

FADA Official Statement:- 

Mr Manish Raj Singhania, President of FADA, shared his views of the performance of the brands in January 2023. He said, "The Commercial Vehicle category has also shown robust growth by growing 16% YoY, 23% from January '21 and 6% from pre-covid month of January '20. Continued demand in the market due to replacement of fleet, growth in freight availability and government's consistent push for infrastructure projects has helped the CV segment rise above pre-covid numbers."

Brand-Wise Commercial Vehicle Sales Data:-

Let's look at the Brand-wise sales Data which shows the units sold by the brand in January 2023 compared to the units sold in January 2022. The YoY % change in sales is also presented here with graphs.

Tata Motors:- 

Tata Motors, one of the biggest commercial vehicle manufacturers, stayed at the table again. The brand has sold 31,847 commercial vehicles, including vehicles of all categories and segments. In January 2022, Tata recorded sales of 31,258 units. As a result, they had a sales growth of 1.88% in January 2023. 

Mahindra & Mahindra:- 

Mahindra & Mahindra closed the sales of January 2023 with a growth of 43.92%. The brand sold 14,319 units in January 2022, which increased to 20,609 units this January. As a result, Mahindra also gained a good portion of the market share of January 2023 sales. 

Ashok Leyland:- 

The flagship firm of the Hinduja Group, Ashok Leyland, also created a good profit in the sales of January 2023. The brand had 13,372 selling units in January 2023 sales, which was 10,460 units in January 2022. As a result, the YoY% change of this brand was 27.83%. 

VECV:-

The VECV (Volvo Eicher Commercial Vehicle), the Volvo Truck, and Eicher Truck & Bus joint venture has also recorded growth. In January 2022, the brand sold 4,515 units; in January 2023, the units sold were 5,545. As a result, the brand experienced a sales gain of 22.81%. 

MARUTI SUZUKI:- 

The sales of Maruti Suzuki grew by 1.28% in January 2023 sales. The brand sold 3,861 units of commercial vehicles last month, whereas they made sales of 3,812 commercial vehicle units in January 2022. 

DAIMLER:- 

Daimler India, which is operating in India as the BharatBenz trucks, closed the month with a good gain in sales. The brand had 1,789 units in January 2023 compared to 1,159 units in January 2022. As a result, the company recorded an increase of 54.35% in January 2023 sales. 

Force Motors:- 

Force Motors has a stronghold in the Small & Light commercial vehicle segment and completed the January 2023 sales with good gains. The brand sold 840 commercial vehicles this January, which was 532 in January 2022. As a result, the sales growth is 57.89%. 

SML ISUZU:- 

The SML ISUZU had a good run in commercial vehicle sales last year, and they are also continuing it in this year's sales. The brand sold 704 units of commercial vehicles in January 2023 against 531 units in January 2022. In addition, the brand completed the month with 32.58%. 

Others:-

All the other companies in the segment made a total sales of 3,861 units compared to the 4,267 units of the previous January. Also, other brands' total sales suffered a loss of -9.51%. 

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