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05 Jan 2023
Automobile

Commercial Vehicle Sector Sales Hiked By 10.67% in December 2022

By News Date 05 Jan 2023

Commercial Vehicle Sector Sales Hiked By 10.67% in December 2022

Commercial Vehicle Sector Witnessed 10.67% Growth in December 2022 Sales

Mahindra & Mahindra registered the highest growth of 38.73%, with 16,928 sold units in the December 2022 sales. 

The Federation of Automobiles Dealership Association (FADA) has released the brand-wise Commercial Vehicles Sales Data December 2022. This time, almost all brands except Tata Motors and Maruti Suzuki experienced positive sales growth with more profits. The overall CV sales of this sector reached 66,945 units in December 2022 against the 60,491 units of the same month in the last year. In this period, a total gain of 10.67% is shown. Daimler took a giant jump in this period with 28.72% sales growth.  

Commenting on the sales performance of the CV sector in December 2022, FADA President, Mr Manish Raj Singhania, cited, "The December month went into a lull after 2 super months of October & November which observed adrenaline rush in the entire Auto Industry.” He further added that “The CV segment has continued to grow during the entire CY2022 and is now almost at par with CY2019 retails. With the uptick in demand for LCV, HCV, Buses and Construction equipment, the government’s continued push for infrastructure development has kept this segment going.” 

Brand Wise Commercial Vehicle Sales Figure December 2022

Let's go through the brand-wise FADA Commercial vehicle sales report December 2022. The given data shows Commercial Vehicle sales in India. 

Tata Motors

Tata Motors is a popular name and one of the country’s biggest CV manufacturers. Despite facing a slight decline of 2.12% YoY change in its CV sales data December 2022, this brand remains at the top position in the sales chart. The company sold 26,049 commercial vehicles in December 2022, against 26,614 units in December 2021. 

Mahindra & Mahindra

Mahindra & Mahindra registered remarkable sales growth in the commercial vehicle sales figure in 2022 for December. The brand sold 16,928 units this December compared to the 12,202 units of the previous December 2021. As a result, Mahindra observed a 38.73% increase in sales in this period.

Ashok Leyland

Ashok Leyland completed this December 2022 with its CV sales of 10,178 units. The brand registered a sales growth of 23.76% as it sold 8,224 CV units in last December 2021.

VECV

VECV (Volvo Eicher Commercial Vehicle) is a famous joint venture of Volvo Motors & Eicher Motors. This brand completed December month with an upward sales trend. The brand sold 4,113 units in December 2022 against 3,591 units in the same month of 2021. Accordingly, the company achieved a sales growth of 14.54%. 

MARUTI SUZUKI

Maruti Suzuki is steadily taking steps in the commercial vehicle sector. This can be shown in commercial vehicle sales data in India. The brand faced a decline of 18.57%, with sales of 3,043 CV units in December 2022, which closed at 3,737 units in December 2021. 

Daimler

Daimler Group is one of the leading global companies across the CV market. It executes CV sales in India under the name of BharatBenz. The brand registered a growth of 28.72%, with 1,470 units in December 2022, which closed with 1,142 units in December last year. 

Force Motors

Force Motors reached 20.72% sales growth in December month 2022, according to the commercial vehicle statistics December 2022. The company in December 2022 sold 699 CV units, which was 579 units in December 2021. 

SML ISUZU LTD

SML ISUZU recorded a sales growth of 5.35% in December 2022, as they sold 591 units in the month. On the other side, it's December 2021 CV sales were 561 units. 

Others

All other CV brands contributed to the overall commercial vehicle sales report December 2022 and reported a slight growth of 0.86%. The commercial vehicle sales of all other brands in December 2022 is 3,874 units which were closed at 3,841 units in the same month last year.

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