07 Mar 2024
FADA Reports 10.75% Rise in Combined CV Sales for Feb 2024
In February 2024, the three-wheeler category witnessed a notable 23.88% sales surge, with 94,918 units sold.
The Federation of Automobile Dealers Association (FADA) has revealed sales figures for commercial vehicles (CVs) and three-wheelers for the current period. Total CV sales in February 2024 amounted to 271,652 units, reflecting a 10.75% increase from the 245,293 units sold in February 2023.
The commercial vehicle (CV) segment saw a marginal 4.78% rise, recording 88,367 units sold in February 2024 compared to 84,337 units in the previous year. The three-wheeler segment experienced a significant surge in sales, witnessing sales of 94,918 units, marking a substantial increase from 76,619 units in February 2023, representing an impressive growth rate of 23.88%.
Let's look at the Combined Commercial Vehicle Sales in Feb 2024
FADA Retail Sales Report by Segment - Three-Wheeler
E-RICKSHAW (P)
Under the E Rickshaw segment, a sales growth of 19.01% in retail was observed in Feb 2024. The brand sold 36,579 units in Feb 2024, compared to 30,736 in Feb 2023.
E-RICKSHAW WITH CART (G)
This segment saw an 81.32% hike in its retail sales for February 2024. The E-Rickshaw category sold 4,435 units in February 2024, compared to 2,446 in February 2023.
THREE WHEELER (GOODS)
The 3 wheeler segment's Feb 2024 sales figure slightly increased by 29.66%. It sold 10,768 units in Feb 2024, compared to 8,305 in Feb 2023.
THREE WHEELER (PASSENGER)
This passenger vehicle segment registered a major retail sales growth of 22.78% in February 2024. The segment sold 43,065 units in February 2024, compared to 35,076 in February 2023.
THREE WHEELER (PERSONAL)
The personal three-wheeler saw a 26.79% rise in retail sales in February 2024. The segment sold 56 units in February 2023, which increased to 71 in February 2024.
FADA Retail Sales Report by Segment - Commercial Vehicles (CV)
The commercial vehicle segment has also been segregated according to LCV, MCV, HCV, and others. Following are the complete sales of the CV segment.
LCV
The LCV segment experienced a 2.19% increase in retail sales in February 2024. The segment closed with 48,594 units in February 2024, compared to 47,551 units in February 2023.
MCV
The MCV category of commercial vehicles sold 6,454 units in Feb 2024, compared to 5,001 units in Feb 2023. As a result, the MCV segment experienced growth of 29.05%.
HCV
Under the Heavy Commercial Vehicle segment, retail sales decreased slightly by 0.31% in February 2024. During this period, 28,271 units were sold, compared to 28,359 in February 2023.
Others
All other remaining segments of the CV category ended in Feb 2024, with sales of 5,048 units. In Feb 2023, it sold 3,426 units. As a result, the segment saw sales growth of 47.34%.
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