The Commercial Vehicle segment has seen double-digit growth in its April 2022 retail sales.
In April 2022, the commercial vehicle segment saw massive growth in its retail sales across LCV (53.74%), MCV (33.50%) and HCV (64.60%), while construction equipment retail sales decreased marginally by -1.42%.
Total commercial vehicle sales in April 2022 stood at 78,398 units, increasing by 52.18% from 51,515 units sold in April 2021. It also grew 286.50% over 20,284 units sold in April 2020. The Government of India provides complete support to the segment regarding infra spending, which has increased the demand. As a result, every commercial OEM reports an increase in retail sales.
Commercial Vehicle Sales April 2022 - No. 1 Tata Motors
Tata Motors stands at the top position by selling the highest number of vehicles. The company stood at 33,581 units in April 2022, up 53.93% from 21,816 units sold in April 2021. Tata Motors' commercial vehicles range from the M&HCV to Prima, Intercity coach, Tarmac coach, Venture, Ace, School Bus, etc. Currently, the company has launched its first fully-electric commercial vehicle Tata ACE EV. This electric truck has a range of 154 km.
Mahindra reported a growth of 72.31% in April 2022. Last month, the company sold 16,857 units, increasing from 9,783 units sold in April 2021. The company's market share also increased to 21.50% from 18.99% YoY. Recently, Mahindra entered into an alliance with CSC Grameen eStore for SCV products. The product sales will be made through the CSC Grameen's digital platform, while customers can also visit the nearest CSC Grameen eStore to see the Mahindra SCV range of Supro and Jeeto.
Ashok Leyland retail sales have seen a massive growth of 49.93% in April 2022. The company sold 12,284 units last month, which is higher than the 8,193 units in April 2021. The company's market share fell to 15.67% from 15.90% held in April 2021.
VE Commercial Vehicles, Maruti Suzuki, Daimler India
VE Commercial Vehicles reported 59.66% growth in April 2022 retail sales. Last month, the company sold 5,446 units, up from 3,411 units in April 2021. The company's market share increased to 6.95% from 6.62% YoY. Maruti Suzuki commercial vehicle retail sales stood at 3,487 units in the last month, up from 2,447 units in April 2021. However, the market share fell to 4.45% from 4.75% YoY.
Daimler India sales stood at 1,577 units in April 2022, increasing 260.36% from 1,248 units sold in April 2021, while the company's market share dipped to 2.01% from 2.42% YoY.
Force Motors and Isuzu recorded 32.81% and 22.05% growth, respectively. Force Motors retailed 838 units in April 2022, while Isuzu noted 808 units. It was a YoY growth from 539 units and 494 units sold in April 2021, with both OEMs noting a boost in market share. Other OEMs recorded sales of 3,520 units in April 2022, up from 3,584 units sold in April 2021.
Are you looking to buy or sell a new truck or a used truck, get a truck loan, Select your truck according to category and other facilities Truck Junction with just one click and download the Truck Junction Mobile Application to know the latest news related to the truck industry.