04 Mar 2022
Commercial vehicle wholesale has seen a decent growth of 25% in February 2022 but has also witnessed a slowdown in demand.
The overall commercial vehicle sales stood at 72,015 units in February 2022 YoY, up by 25% over 57,570 units sold in February 2021. On an MoM basis, the total commercial vehicle sales grew by just 3% from 69,626 units in January 2022. The popular Tata, Ashok Leyland, Mahindra and Volvo Eicher commercial vehicles sold more commercial vehicles in Feb 2022.
The leader, Tata Motors, registered continuous growth in its commercial vehicle sales in February 2022. Tata commercial vehicles sales stood at 33,894 units and grew by 9% against 31,141 units sold in February 2021. In contrast, the company's monthly sales decreased by 7% compared to January 2022. The company saw good growth in M&HCV, Passenger Carriers and SCV Cargo & Pickup segments, except in Intermediate & LCV. M&HCV sales stood at 10,233 units last month, up 18% from 8,664 units in Feb 2021. Passenger Carriers sales recorded 1,759 units in Feb 2022, increasing by 41% against 1,247 units in Feb 2021. SCV Cargo & Pickup sales stood at 16,303 units in Feb 2022, grew by 4% from 15,606 units in Feb 2021. I&LCV sales recorded 5,599 units in Feb 2022, which decreased from 5,624 units in Feb 2021.
Mahindra & Mahindra sold 20,166 units of commercial vehicles in Feb 2022, growing by 119% from 9,202 units sold in Feb 2021. At the same time, the company's monthly sales have decreased by 4% compared to January 2022. The company saw an uptick in its all segments. Sales of the company's all segments LCV<2T, LCV 2T>3.5T, and LCV>3.5T&M&HCV saw growth by 245%, 107% and 18%, respectively.
Ashok Leyland registered 4% YoY growth in its commercial vehicles with a wholesale of 12,862 units in Feb 2022, compared to 12,402 units in Feb 2021. The company's monthly sales grew 5% as compared to Jan 2021. Ashok Leyland's M&HCV segment has seen a growth of 17%, with a wholesale of 7,861 units in Feb 2022, against 6,740 units in Feb 2021. But the company has seen a decline of 12% in the LCV segment, which recorded 5,001 units in Feb 2022, compared to 5,662 units in Feb 2021.
Volvo Eicher Commercial Vehicles sold 5,093 units in Feb 2022 grew by 6% from 4,825 units recorded in Feb 2022. Also, the company saw a 13% growth compared to Jan 2022.
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