08 Apr 2024
Fada Commercial Vehicle Retail Sales dropped by 5.87% in March 2024
The Federation of Automobile Dealers Association has revealed commercial vehicle sales numbers for March. FORCE MOTORS LIMITED, a well-known Indian company under the Firodia Enterprise, reported a 35.18% year-on-year increase in sales.
According to the FADA truck sales report, the numbers for top Indian CV makers were compared with February 2023. FADA reported that truck sales dipped to 91,289 units in March 2024. In March 2023, however, sales fell by 5.87% to 96,984 units.
Official Statement of FADA
In March 2024, the Indian Auto Retail sector experienced modest growth of 3.14% YoY, as reported by FADA President Mr. Manish Raj Singhania, “The two-wheeler (2W) and three-wheeler (3W) segments saw increases of 5% and 17%, respectively, while passenger vehicles (PV), tractors (Trac) and commercial vehicles (CV) faced declines of 6%, 3%, and 6%, respectively.”
Brand-Wise Commercial Vehicles Sales Data
Here, we have segregated the section according to brand-wise sales.
Tata Motors
Tata Motors is India's largest commercial vehicle producer. In March 2024, the brand's sales declined by 11.34%. They sold 32,972 CVs, compared to 37,190 in March 2023.
Mahindra & Mahindra
Mahindra Trucks sold 21,748 commercial vehicles in March 2024. In comparison, the brand closed the same month last year with 20,589 units. As a result, the brand grew by 5.63% in March YOY sales.
Ashok Leyland
Ashok Leyland ended March 2024 with a sales loss of 12.39%. The brand sold 17,330 CVs in March last year, which decreased to 15,183 units this year.
VECV
VECV is a joint venture between Volvo Trucks India and Eicher Trucks. In March 2024, they sold 6,711 CV units, which closed at 6,864 units in March 2023, resulting in a sales loss of 2.23%.
Maruti Suzuki
Maruti Suzuki experienced a fall of 9.59% in March 2024. They sold 3,393 units in March 2024, while they closed with 3,753 in March 2023.
Daimler
Daimler India, or BharatBenz Trucks, sold 1,901 CV in March 2024, compared to 2,159 units in March 2023. As a result, it registered a loss of 11.95%.
Force Motors Limited
This is yet another popular commercial vehicle manufacturer in India. Force Motors closed in March 2024 with a maximum sales growth of 35.18%. It sold 1,537 units this March, compared to 1,137 last year.
SML Isuzu
SML Isuzu recorded an increase of 3.84% in March 2024. The brand sold 892 units of CVs in March 2024, outnumbering the 859 units sold in March last year.
Others
All the other brands contributed 6,952 CV units in March this year, compared to 7,103 units in March 2023. This resulted in a sales loss of 2.13%.
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