The commercial vehicle has seen a huge increase in its retail sale in December 2021. As a result, the total commercial vehicle retailed was 103,135 units in December 2021 compared to 79,515 units in December 2020, increasing by 29%.
On Wednesday, FADA ( Federation of Automobile Dealers Association) stated that total commercial vehicle retail sales increased by 29% in December 2021 YOY. Unfortunately, it decreased 13% compared to December 2019, which was a regular pre covid month. Three Wheeler and commercial vehicle retail sales rose 59% and 14%, respectively.
Total commercial vehicle retail sales were 103,135 units in December 2021 compared to 79,515 units in December 2020, increasing by 29%.
Medium & Heavy commercial vehicle segments saw healthy growth but a low base. Vinkesh Gulati, President of FADA, said, “December month is seen as a high sales month where OEMs continue to provide best discounts to clear the inventory due to year changes”.
He added that the CV segment continues to rise, with M&HCV outshining LCVs. The government’s push to spend on infrastructure, especially road infrastructure, better freight rates, price hike announcement in January and lower base helped the overall segment close in positive double digits. Therefore, 3W, HCV, LCV and MCV retail sales saw good growth in December 2021.
Three Wheeler, CV, HCV, LCV & MCV Retail Sales
According to FADA, Retail sales of commercial vehicles in December 2021 showed significant growth compared to December 2020. Three Wheeler retail was 44,288 units in December 2021 as against 27,766 units in December 2020, registering an increment of 59%. While total retail of the commercial vehicles was 58,847 units in December 2021 compared to 51,749 units in December 2020, increasing by 14%. Similarly, LCV retail was 36,047 units in December 2021 as against 34,167 units in December 2020, rising by 5.50%. Whereas MCV retail sales were 4,099 units in the previous month as against 2,499 units, registering a 64.03% growth. With this, HCV retail was 16,066 units in December 2021 as against 11,278 units in December 2020, increasing by 42.45%.
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