Commercial Vehicle Retails Sale Increased, especially in light, medium and heavy commercial vehicles.
As we know, many developments are happening in the e-commerce sector, and the Government of India is commissioning new infrastructure projects in the country. As a result, the demand for commercial vehicles such as the LCV, MCV and HCV market is growing. Considering the total commercial vehicle retail sales including 3 wheelers, a total of 92,807 units were sold in October 2021, registering an increase of 43.85% compared to 64,516 units in October 2020.
3 Wheeler Segment
39,077 units of 3 wheelers were recorded in October 2021, which shows an increment of 73.93% compared to 22,467 units in October 2020.
Commercial Vehicle - LCV, MCV & HCV
According to FADA Research, 53,730 units of commercial vehicles were recorded in October 2021, registering a growth of 27.77% compared to 42,049 units in October 2020. Growth was seen across the light commercial vehicle (4.04%), medium commercial vehicle (80.11%) and heavy commercial vehicle (121.61%).
The 34,162 units of light commercial vehicles were recorded in October 2021, while in October 2020, it was 32,835 units. Similarly, 3,694 units of medium commercial vehicles were registered on October 21, whereas 2,051 units were sold in October 2020. The 15,874 units of heavy commercial vehicles were recorded in October 2021, while in October 2020, it was 7,163 units.
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