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04 Apr 2023

Commercial Vehicle Sales Observed a Growth of 32.88% in FY 2023

By News Date 04 Apr 2023

Commercial Vehicle Sales Observed a Growth of 32.88% in FY 2023

SML Isuzu registered the maximum hike in sales with 54.22%, and Tata Motors sold the highest number of commercial vehicles by selling 3,67,973 units

FADA (FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS ) has released the retail sales data for the Financial Year 2023. Most commercial vehicle brands have scaled their sales with low or high margins. As a result, the total sales of this financial year ended with 9,39,741 units against the 7,07,186 units and gained 32.88%. 

Brand Wise Commercial Vehicle sales Date:- 

This sales report consists of the sales figures of all the commercial vehicle manufacturers. This report is made with the comparison of CV sales of FY ‘22 and FY ‘23. So let’s look at the commercial vehicle sales statistics FY 2023. 

Tata Motors:-

In the Financial year 2023, Tata Motors sold 3,67,973 units of commercial vehicles in India, with a growth of 25.52%. The sales numbers of this company stood at 2,93,158 in the Financial Year 2022 sales. The brand has performed brilliantly throughout the year and closed sales as the highest commercial vehicle maker in truck sales in India.

Mahindra & Mahindra:- 

Mahindra & Mahindra saw continuous growth in the sales of the Financial Year 2023. The brand ended the year with a total sales of 2,25,661 units, whereas the units in FY ‘22 were 1,49,203. As a result, the company created a hike of 51.24% in this complete sale. 

Ashok Leyland:-

Ashok Leyland, the Hinduja Group flagship firm, completed the Financial Year 2023 on the positive side. In the Financial Year 2022, the brand sold 1,01,877 units of commercial vehicles which reached 1,50,138 in FY ‘23. Hence Ashok Leyland registered a growth of 47.37% in Financial Year truck sales statistics 2023. 

VECV:- 

VECV, the joint venture of Volvo Trucks India and Eicher Trucks & Buses, completed the Financial Year on a high note. The brand witnessed a growth of 47.09% in the comparable sales of FY ‘23 and FY ‘22. In the Financial Year 2023, the brand sold 42,564, which increased to 62,609 units in the total sales of FY ‘23.

MARUTI SUZUKI:- 

Maruti Suzuki reported a slight increase in complete sales for Financial Year 2023. In FY 22, the brand sold 40,141 units which increased to 40,527 units in the total sales for Financial Year 2023. As a result, Maruti Suzuki observed a growth of 0.96%. 

Daimler:- 

Daimler is a renowned brand and works in India under the name of BharatBenz Trucks. In the FY ‘22 sales report, the brand recorded 17,077 commercial vehicle units, whereas FY ‘22 was 13,093. As a result, the company achieved a growth of 30.42% 

Force Motors:-

Force Motors has shown a good run in the whole year, and it is visible in this Financial year’s sales. The company sold 12,047 units of commercial vehicles in Financial Year 2023, which were 8,590 units in FY ‘22. As a result, Force Motors closed the Financial Year 2023 with a sales hike of 40.24%. 

SML ISUZU:-

SML Isuzu recorded the highest growth in the Financial Year 2023 sales. This brand sold 9,136 units of commercial vehicles in FY ‘23, which closed with 5,924 units in FY ‘22. Hence the brand resulted in a sales hike of 54.22%, the highest among all the brands. 

Others:- 

All the other brands of commercial vehicles sold 54,573 units of commercial vehicles in Financial Year 2023. Also, in Financial Year 2022, the brand sold 52,636 commercial vehicle units. As a result, all the other brands created a growth of 3.67%.

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