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Posted On : 05 July, 2024
The Federation of Automobile Dealers Association (FADA) has released the sales figures for commercial vehicle in June 2024. SML ISUZU LTD, a well-known Indian company, saw an 18.34% increase in sales compared to last year.
According to FADA's truck sales report, leading Indian commercial vehicle manufacturers showed a loss in growth. Truck sales decreased to 72,747 units in June 2024, up from 76,364 units in June 2023, marking a 4.74% dip in growth.
FADA President Mr Manish Raj Singhania provided insights on June 2024's auto retail performance,stating, “June is traditionally one of the weakest months for India’s auto retail. This year, while the monsoon progressed normally up to Maharashtra, it lost momentum, delaying rains in West Bengal, Bihar, Uttar Pradesh, Chhattisgarh, and Madhya Pradesh. This exacerbated the effects of a severe heatwave in northwest India, contributing to a prolonged hiatus that not only intensified the heatwave but also delayed the sowing operations of kharif (summer sown) crops in northern and north-western regions, thereby impacting rural sales.
As a result, India’s automobile retail industry experienced a modest YoY growth of just 0.73%. While the two-wheeler (2W) and three wheeler (3W) segments registered positive YoY growths of 4.66% and 5.1% respectively, other categories such as passenger vehicles (PV), tractors (Trac) and commercial vehicles (CV) saw declines of 6.7%, 28.3%, and 4.7% YoY, respectively.
Here, we have segregated the section according to brand-wise sales.
Tata Motors is India's largest commercial vehicle producer. In June 2024, the brand's sales decreased by 3.28%. They sold 25,919 CVs, compared to 26,799 in June 2023.
Mahindra Trucks sold 17,468 commercial vehicles in June 2024. In comparison, the brand closed the same month last year with 16,938 units. As a result, the brand grew by 3.13% in June YOY sales.
Ashok Leyland ended June 2024 with a sales loss of 11.33%. The brand sold 12,696 CVs in June last year, which decreased to 11,257 units this year.
VECV is a joint venture between Volvo Trucks India and Eicher Trucks. In June 2024, they sold 5,872 CV units, which closed at 6,135 units in June 2023, resulting in a sales loss of 4.29%.
Maruti Suzuki experienced a fall of 17.23% in June 2024. They sold 2,883 units in June 2024, while they closed with 3,483 in June 2023.
This is yet another popular commercial vehicle manufacturer in India. Force Motors closed in June 2024 with a sales drop of 7.26%. It sold 1,507 units this June, compared to 1,625 last year.
Daimler India, or BharatBenz Trucks, sold 1,499 CV in June 2024, compared to 1,575 units in June 2023. As a result, it registered a loss of 4.83%.
SML Isuzu recorded a maximum sales increase of 18.34% in June 2024. The brand sold 1,497 units of CVs in June 2024, outnumbering the 1,265 units sold in June last year.
All the other brands contributed 4,845 CV units in June this year, compared to 5,848 units in June 2023. This resulted in a sales loss of 17.15%.
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