04 Apr 2023
Force Motors recorded the highest sales growth of 61.89% in March 2023
FADA (Federation of Automobiles Dealership Association) issued the brand-wise Commercial Vehicles Sales Data for March 2023. Almost all brands except Maruti Suzuki observed positive sales growth with better business profits. The overall CV (Commercial Vehicle) sales reached 92,790 units in March 2023. In its comparison, 84,124 units were sold in March 2022. Hence a total gain of 10.30% is highlighted. VECV (Volvo Eicher Commercial Vehicle) sales jumped significantly in this period, with 37.52% sales growth. But the maximum sales growth was seen by Force Motors in March 2023 with a 61.89% growth rate.
On the CV sales performance in March 2023, FADA President, Mr. Manish Raj Singhania, commented, “The Commercial Vehicle category has shown robust growth by growing 10% YoY. Passenger vehicle demand was also healthy during the month Apart from the infrastructure spending by Central Government, OBD Stage 2A price hike coupled with discount offers from OEMs witnessed pre-buying.”
Brand Wise Commercial Vehicle Sales Figure March 2023
Let's check out the brand-wise FADA Commercial Vehicle Sales Report March 2023. The following data depicts Commercial Vehicle sales in India.
Tata Motors
Tata Motors is one of the biggest commercial vehicle manufacturers in India. This company saw slight sales growth of 0.41% YoY in March 2023. Despite that, it has been at the top position in the sales chart, with sales of 36,152 units in March 2023. The company sold 36,005 commercial vehicles in March of last year.
Mahindra & Mahindra
Mahindra & Mahindra registered significant sales growth with 20,509 units in March commercial vehicle sales figure in 20E23. It observed a 12.65% sales growth with respect to March 2022, when it sold 18,205 units.
Ashok Leyland
Ashok Leyland ended the last month of the financial year 2023 with CV sales of 16,124 units in March. The company highlighted a sales growth of 27.05% as it sold 12,691 CV units last March 2022.
VECV
VECV is a recognised joint venture of Eicher Motors and Volvo Motors. It completed Marc h month with progressive sales. This company sold 6,637 units in March 2023 against 4,826 units in the same month of 2022. Accordingly, it achieved a sales growth of 37.52%.
MARUTI SUZUKI
Maruti Suzuki is steadily expanding its presence in the commercial vehicle market. This can be seen in India's commercial vehicle sales data. It is the only brand that experienced a 7.22% decrease. The brand sold 3,699 units in March 2023, up from 3,987 units in March 2022.
Daimler
Daimler Group is one of the world's leading companies in the CV market. It sells CVs in India under the brand name BharatBenz. With 2,134 units sold in March 2023, the brand saw a 34.47% increase in sales. Last year, it was closed with 1,587 units in March last year.
Force Motors
According to March 2023 commercial vehicle statistics, Force Motors experienced a maximum sales increase of 61.89%. In March 2023, the company sold 1,109 CV units, up from 685 in March 2022.
SML ISUZU LTD
SML ISUZU reported a 26.48% increase in sales in March 2023, selling 850 units. On the other hand, its CV sales in March 2022 were 672 units.
Others
All other CV brands contributed to the overall commercial vehicle sales report for March 2023, with a 2.01% increase. All other brand commercial vehicle sales in March 2023 are 5,576 units, up from 5,466 units in the same month last year.
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