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14 Apr 2022

Commercial Vehicle Retail Sales Increased 15% In March 2022

By News Date 14 Apr 2022

Commercial Vehicle Retail Sales Increased 15% In March 2022

In March 2022, the commercial vehicle segment saw a huge increment in its retail sales. And again, Tata topped the list by selling 33,900 units in March 2022. 

In March 2022, commercial vehicle retail sales saw a significant growth. The sales had stood at 67,828 units in March 2021, which increased 14.91% to 77,938 units in March 2022. However, it was a 33.28% de-growth compared to 1,16,817 units sold in March 2020. Every commercial vehicle OEM on the list has noted an increment in retail sales except for Maruti Suzuki. 

Again, Tata Motors topped the segment by selling 33,900 units in March 2022, up from 28,942 units retailed in March 2021. The company's market share is also enhanced to 43.50% from 42.67% YoY. The leading Tata Motors is getting ready to introduce ACE electric, which was recently spied on a TVC shoot.

In the second position, Mahindra stands by providing 45.78% growth in its retail sales. The company sold 17,349 units in March 2022, up from 11,901 units in March 2021. The company's market share increased to 22.26% from 17.55% held last month. 

In the 3 and 4 positions, Ashok Leyland and VE Commercial Vehicles stand with 10.54% and 8.10% growth in their retail sales. Ashok Leyland haa retailed 11,676 units in March 2022, up from 10,563 units retailed in 2021. However, the market share of the company dipped from 15.57% to 14.98% YoY. Recently, the company launched the CNG CV goods carrier - E-Comet Star ICV (Intermediate CV) CNG truck range. These ICVs are offered in two GVW of 16.1 ton and 14.25 ton with 3 CNG cylinder options. 

VE Commercial Vehicles saw 8.10% growth in March 2022 by selling 4,566 units, up from 4,244 units sold in March 2021. The market share of the VE dipped from 6.23% to 5.86%. 

Maruti Suzuki retail sales fell by 0.65% in March 2022 as it sold 3,803 units in March 2022, a drop from 3,828 units sold in March 2021. Market share also dipped from 5.64% to 4.88%. 

Daimler India stood at 1,548 units in March 2022, an increment of 7.35% from 1,442 units retailed in March 2021. However, market share dipped from 2.13% to 1.99% YoY. 

SML Isuzu increased by 12.39%, from 589 units to 662 units sold in March 2022. The market share of the company in 2022 is 0.85%. In contrast, Force Motors saw 55.80% growth in March 2022 by selling 631 units, up from 405 units retailed in March 2021. The market share of the company was 0.81% last month. Other OEMs retailed 3,803 units last month, down by 35.91% from 5,934 units sold in March 2021.  

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