Commercial Vehicle Sector Experienced 32.80% Growth in November 2022 Sales
Mahindra & Mahindra recorded the highest gain of 66.73%, with 20,081 sold units in the November 2022 sales.
The Federation of Automobiles Dealership Association (FADA) has released the brand-wise sales data for Commercial Vehicles for November 2022. All of the brands showed positive sales trends and experienced profits. The total sales of the sector reached 79,369 sold units against the 59,765 units of the same month last year and experienced a gain of 32.80%, and Ashok Leyland created a significant growth of 66.06%.
On the performance, FADA President, Mr Manish Raj Singhania, said, "The CV witnessed a growth of 33% YoY and 6% compared to 2019. With the Government's continued focus in the infrastructure space and new mining projects, replacement demand continued to pour in along with healthy inter-state passenger movement enabling bus sales."
Brand Wise Commercial Vehicle Sales Report November 2022
Let's check out the brand-wise FADA Commercial vehicle sales report November 2022. All this data shows the Commercial Vehicle sales in India.
Tata Motors, one of India's biggest commercial vehicle manufacturers, stayed at the top of the chart. The company sold 30,282 commercial vehicles in November 2022 against 26,469, with 14.40% YoY growth.
Mahindra & Mahindra:-
Mahindra & Mahindra recorded the highest jump in the commercial vehicle sales figure in 2022 for November. They sold 20,081 units this November compared to the 12,044 units of the previous November. As a result, the company created a 66.73% increase in sales.
Ashok Leyland completed its sales with 13,084 sold units. The company registered a growth of 66.06% as it sold 7,879 in November 2021.
VECV (Volvo Eicher Commercial Vehicle), the joint venture of Volvo Motors and Eicher Motors, completed the month with an upward trend in sales. The brand sold 5,270 units in November 2022 against the 3,786 units in the same month last year. Accordingly, they created a sales growth of 39.19%.
Maruti Suzuki is slowly and steadily creating and settling its footsteps in this sector, which is visible in commercial vehicle sales data. The brand sold 3,828 CV units in the sales report of November 2022, which closed at 3,664 units in the same month last year. They registered a YoY growth of 4.47%.
Daimler Group, one of the global leaders in commercial vehicles, executes sales in India by BharatBenz. The company recorded a growth of 35.33%, with 1,555 units in November 2022, which closed with 1,149 in November last year.
Force Motors completed the month with a 3.84% sales growth, according to the commercial vehicle statistics 2022 for November. The company sold 675 CV units, which was 650 in November 2021.
SML ISUZU LTD:-
SML ISUZU registered a growth of 3.16% in November 2022, as they sold 586 units in the month. Where the CV sales of November last year were 568 units.
All the other brands contributed a good number in the commercial vehicle sales report and reported a growth of 12.71%. The sales of all other brands in November 2022 is 4,008 units which were closed at 3,556 units in the same month last year.
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