05 Sep 2024
FADA Saw a 6.05% Decrease in Commercial Vehicle Retail Sales in August 2024
The Federation of Automobile Dealers Association (FADA) has released the August 2024 sales figures for commercial vehicles. VE Commercial Vehicles Ltd., a renowned Indian company, experienced a 7.98% sales growth from the previous year.
According to the truck sales report by FADA, top Indian commercial vehicle manufacturers experienced a decline in sales. Truck sales decreased by 6.05%, with 73,253 units sold in August 2024 compared to 77,967 units in August 2023.
Official Statement of FADA:
FADA President, Mr. Manish Raj Singhania, commented on the auto retail performance for August 2024, stating, “In August, India witnessed 15.9% excess rainfall across the country, with northwest India seeing a surplus of 31.4%, 7.2% in the east and northeast, 17.2% in central India, and a minor deficiency of 1.3% in the peninsular region. This monsoon season brought unpredictable weather, starting with extreme heat waves which delayed the monsoon and transitioned into heavy rainfall, leading to flood-like conditions in several areas.
These weather anomalies have had a direct impact on India's auto retail market, which registered a modest YoY growth of just 2.88% in August. While the two-wheeler (2W) and three-wheeler (3W) segments managed to post growth at 6.28% and 1.63%, respectively, other categories faced significant setbacks. Passenger vehicle (PV) sales declined by 4.53%, tractor sales dropped by 11.39%, and commercial vehicles (CV) saw a 6.05% drop, underscoring the challenges the industry is grappling with, due to these volatile conditions."
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 August 2024, the brand's sales decreased by 11.99%. They sold 24,817 CVs compared to 28,198 in August 2023.
Mahindra & Mahindra
Mahindra Trucks sold 18,466 commercial vehicles in August 2024. In comparison, the brand closed the same month last year with 19,216 units. As a result, the brand saw a decline of 3.90% in August YoY sales.
Ashok Leyland
Ashok Leyland ended August 2024 with a sales decrease of 1.49%. The brand sold 11,955 CVs in August this year, compared to 12,136 units last year.
VECV
VECV is a joint venture between Volvo Trucks India and Eicher Trucks. In August 2024, they sold 6,173 CV units, compared to 5,717 units in August 2023, resulting in a sales growth of 7.98%.
Maruti Suzuki
Maruti Suzuki experienced a rise of 5.00% in August 2024. They sold 3,441 units in August 2024, while they closed with 3,277 in August 2023.
Force Motors Limited
Force Motors, another popular commercial vehicle manufacturer in India, closed in August 2024 with a sales decline of 9.69%, selling 1,379 units this August compared to 1,527 august 2023.
Daimler
Daimler India, or BharatBenz Trucks, sold 1,482 CVs in August 2024, compared to 1,503 units in August 2023, resulting in a decrease of 1.40%.
SML Isuzu
SML Isuzu recorded a marginal sales increase of 0.56% in August 2024. The brand sold 900 units of CVs in August 2024, slightly up from 895 units sold in August 2023.
Others
All other brands contributed 4,640 CV units in August this year, compared to 5,498 units in August 2023. This resulted in a sales loss of 15.61%.
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