07 Mar 2024
FADA Commercial Vehicle Retail Sales Increase 4.78% in Feb 2024
The Federation of Automobile Dealers Association has released the commercial vehicle sales figures for February. FORCE MOTORS LIMITED, a prominent Indian manufacturer under the Firodia Enterprise, demonstrated a notable 120.00% year-on-year surge in sales for February.
In February 2024, the FADA truck sales report compared numbers with February 2023 for top Indian CV makers. FADA revealed that truck sales hit 88,367 units in February 2024. On the other hand, February 2023 saw sales of 84,337 units, showing a 4.78% increase.
Official Statement of FADA:-
“In February 2024, Indian Auto Retail saw a robust overall growth of 13% YoY, as noted by FADA President Mr. Manish Raj Singhania. Every vehicle category, including 2W, 3W, PV, Tractors, and CV, registered growth rates of 13%, 24%, 12%, 11%, and 5%, respectively.”
Brand-Wise Commercial Vehicles Sales Data
Here, we have segregated the section according to the brands-wise sales.
Tata Motors
Tata Motors is India's biggest commercial vehicle manufacturer. In February 2024, the brand faced a 0.13% sales loss. They sold 31,915 CVs, compared to 31,958 units in Feb 2023.
Mahindra & Mahindra
Mahindra Trucks sold 21,206 units of commercial vehicles in Feb 2024. In comparison, the brand closed the same month last year with 19,354 units. As a result, the brand grew 9.57% in Feb YO-Y sales.
Ashok Leyland
Ashok Leyland Feb 2024 with a sales rise of 1.01%. The brand sold 14,589 CVs in Feb last year, which increased to 14,736 units this year.
VECV
VECV is a joint venture between Volvo Trucks India and Eicher Trucks. In February 2024, they sold 5,979 CV units, which closed at 5,906 units in February 2023, resulting in a sales rise of 1.24%.
Maruti Suzuki
Maruti Suzuki experienced a rise of 0.15% in Feb 2024. They sold 3,323 units in Feb 2024, while they closed with 3,318 in Feb 2023.
Force Motors Limited
This is yet another popular commercial vehicle manufacturer in India. Force Motors closed the month of Feb 2024 with a 120.00% maximum growth in sales. It sold 2,024 units this Feb, compared to 920 last year.
Daimler
Daimler India, or BharatBenz Trucks, gained a significant growth percentage in February 2024. The brand sold 1,837 CV in February 2024, compared to 1,800 units in February 2023. As a result, it registered a growth of 2.06%.
SML Isuzu
SML Isuzu recorded an increase of 40.18% in February 2024. The brand sold 771 units of CVs in February 2024, outnumbering the 550 units sold in February last year.
Others
Moreover, all the other brands contributed 6,576 CV units in Feb this year, compared to 5,942 units in Feb 2023. This resulted in a sales hike of 10.67%.
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