11 Nov 2022
Mahindra & Mahindra Recorded the Biggest Gain of 94.52% in the Truck Sales Data of October 2022.
FADA (Federation of Automobiles Dealers Associations) has released the commercial vehicle truck sales report October 2022. The report states the sales data of the CV sector in October this year. The total sales of commercial vehicles in October 2022 touched 74,443 units which closed at 59,363 units in October 2021. As a result, the total sales of commercial vehicles gained by 25.40%. Mahindra & Mahindra again recorded the most significant jump of 94.52%.
Mr Manish Raj Singhania said, "The CV segment continues to come back on track by growing 25% YoY and 13% compared to 2019. Festivities ignited better fleet sales. With Mining and Infrastructure projects increasing in various regions, demand has been keeping well and coming back on track." Commented on the commercial vehicles sales figure 2022 for October month.
Brand-wise Commercial Vehicles Sales Statistics 2022
Some commercial vehicle companies experienced good growth in sales in October 2022, whereas some brands recorded a downfall. You can check out the brand-wise sales here.
Tata Motors:-
Tata Motors remained at the top of the table after selling the most units. The brand sold 27,467 units, an increase of 4.69% compared to the 26,236 units sold in October 2021.
Mahindra & Mahindra:-
Mahindra & Mahindra experienced a 94.52% growth in October 2022 truck sales in India. The brand sold 20,083 units of commercial vehicles, which stood at 10,324 units in October 2021.
Ashok Leyland:-
The flagship firm of the Hinduja Group, Ashok Leyland, increased its sales by 48.38%. As a result, the company sold 12,077 units in October 2022, and the number sold in October 2021 was 8,139.
VECV:-
VECV is the joint venture of Volvo and Eicher group. The brand closed the October 2022 sales with a gain of 20.82 as the company sold 4,937 units against the 4,086 units of October 2021.
Maruti Suzuki:-
Maruti Suzuki's sales declined by 3.33% in the commercial vehicle sales of October 2022. The brand ended October month with total sales of 3,677 units, whereas the sales of this brand in October 2021 were 3,804 units.
Daimler:-
The Daimler group is famously known for the BharatBenz trucks. The brand increased its sales by 2.22% in October 2022, as it sold 1,195 units against 1,169 units in October 2021.
Force Motors:-
Force Motors received a decline as the sales declined from 1,010 units in October to 887 units in October 2022. The brand experienced a downfall of 12.17%.
Also, the total sales of all the other brands could have performed better and recorded a decline of 10.33% in October 2022. The sales of all other brands were 4,595 in October 2021, whereas this year, in October, the sales were 4,120.
The increase in infrastructure and construction projects leads the sales of commercial vehicles in a positive direction, and hopefully, this rise will continue.
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