09 Dec 2024
FADA Commercial Vehicle Retail Sales Witness a 6.08% Decline in November 2024
The Federation of Automobile Dealers Association (FADA) has released the commercial vehicle sales figures for November 2024. SML ISUZU LTD stood out with a remarkable 27.85% growth in sales compared to last year, making it the top performer in YoY growth for the month.
According to FADA's truck sales report, the overall commercial vehicle market declined in November 2024. The total truck sales dropped to 81,967 units, compared to 87,272 units in November 2023, reflecting a 6.08% decrease in growth.
Official Statement of FADA:
FADA President, Mr C S Vigneshwar, shared his perspective on the auto retail performance for November 2024:
“While November was initially expected to build on its prior momentum, particularly due to the marriage season, dealer feedback suggests that this segment underperformed overall expectations. Although rural markets offered some support, primarily in the two-wheeler category, marriage-related sales remained Subdued. The late occurrence of Deepawali at the end of October also caused a spillover of festive registrations into November, affecting the month’s sales trajectory.
On a year-over-year basis, 2W, 3W and Trac recorded growth of 15.8%, 4.23%, and 29.88%, respectively. In contrast, PV and CV declined by 13.72% and 6.08%.
The CV segment also struggled, with sales down 15.85% MoM and 6.08% YoY. Contributing factors included restricted product choices, older model issues, limited financier support, and the absence of major festivals in November following a strong October. External elements such as elections, a slowdown in coal and cement industries, and weak market sentiment also weighed heavily on this category.”
Brand-Wise Commercial Vehicle Sales Data
Below is the brand-wise breakdown of commercial vehicle sales in November 2024:
Tata Motors
Tata Motors, India's largest commercial vehicle producer, experienced a sales decline of 8.92% in November 2024. The company sold 27,671 CV units, down from 30,382 units in November 2023.
Mahindra & Mahindra
Mahindra Trucks sold 23,046 units in November 2024, compared to 23,536 units in November 2023. This marks a slight decrease of 2.08% in YoY sales.
Ashok Leyland
Ashok Leyland recorded a 6.54% decline in sales in November 2024. The brand sold 12,824 units compared to 13,721 units in November 2023.
VE Commercial Vehicles
VE Commercial Vehicles (a joint venture between Volvo and Eicher Trucks) reported a 4.43% drop in sales. The company sold 5,517 units in November 2024, compared to 5,773 units in November 2023.
Maruti Suzuki
Maruti Suzuki's sales declined slightly by 1.83% in November 2024. The brand sold 3,696 units, compared to 3,765 units in November 2023.
Daimler India (BharatBenz)
Daimler India, known for its BharatBenz trucks, experienced a significant decline of 14.37%. The company sold 1,573 units in November 2024, down from 1,837 units in November 2023.
Force Motors Limited
Force Motors showed positive growth with a 6.84% increase in sales. The company sold 1,297 units in November 2024, compared to 1,214 units in November 2023.
SML Isuzu
SML Isuzu achieved the highest YoY growth of 27.85% in November 2024. The company sold 730 units, up from 571 units in November 2023.
Others
Sales from all other brands dropped by 13.29%, contributing 5,613 units in November 2024, compared to 6,473 units in November 2023.
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