05 May 2025
Commercial Vehicle Retail Sales Decline by 1.05% in April 2025
The Federation of Automobile Dealers Associations (FADA) has released the commercial vehicle retail data for April 2025. The CV segment recorded a marginal year-on-year (YoY) decline of 1.05%, with total retail sales reaching 90,558 units, compared to 91,516 units in April 2024.
FADA’s Insights on Market Conditions
Reflecting on the performance, FADA President Mr. C S Vigneshwar stated, “April’s commercial vehicle segment witnessed a 1.05% YoY dip and a 4.44% month-on-month contraction, largely driven by OEM-led price hikes amid stagnant freight rates and limited fleet utilisation. Dealer feedback indicates that advance purchases in March led to higher carryover inventory. Additionally, April’s festive and holiday calendar resulted in fewer fresh enquiries and delayed conversions, especially in the SCV cargo space. However, the bus segment showed resilience due to steady demand for school and staff transportation. While financing support remains stable, additional assistance for first-time buyers is essential to boost future momentum.”
Brand-Wise Commercial Vehicle Sales Report for April 2025
Tata Motors
Tata Motors, maintaining its leadership in the CV market, sold 30,398 units in April 2025 compared to 32,419 units in April 2024. This marks a 6.23% YoY decline. The company was impacted by slower fleet replacements and price-sensitive buyer behaviour, especially in the SCV and ICV categories.
Mahindra & Mahindra
Mahindra & Mahindra registered a modest YoY growth of 1.73%, with 21,043 units sold in April 2025, up from 20,685 units in April 2024. The company’s light commercial vehicle range continues to perform steadily in tier 2 and 3 markets.
Ashok Leyland
Ashok Leyland reported a 5.25% YoY decline, selling 15,766 units in April 2025 against 16,639 units in the same month last year. The dip is attributed to subdued activity in the M&HCV cargo segment, though bus demand remained relatively healthy.
VE Commercial Vehicles
VE Commercial Vehicles (a joint venture between Volvo and Eicher Trucks) posted a solid growth of 9.16% YoY. It sold 7,565 units in April 2025, up from 6,930 units a year ago. Demand was driven by its expanding ICV portfolio and a stronger regional dealer push.
Force Motors
Force Motors showed remarkable growth of 78.26%, retailing 3,312 units in April 2025 compared to 1,858 units in April 2024. This surge was fueled by increasing institutional sales, particularly for school and staff mobility.
Maruti Suzuki
Maruti Suzuki reported a 6.13% decline in CV sales. It sold 3,200 units in April 2025 as compared to 3,409 units last year. Competitive pressure and price-value gaps impacted volumes in the mini truck segment.
Daimler India (BharatBenz)
Daimler India Commercial Vehicles saw a negligible decline of 0.45%, with 1,985 units sold in April 2025 compared to 1,994 in April 2024. Cautious buying in the heavy-duty haulage segment affected its sales.
SML Isuzu
SML Isuzu posted an 8.70% YoY increase. The brand sold 1,199 units in April 2025 against 1,103 in April 2024, benefiting from consistent demand for school buses and small fleet requirements.
Others
The “Others” category, comprising smaller regional brands and electric CV players, recorded a 6% YoY decline. Total units sold stood at 6,090 in April 2025, down from 6,479 in the previous year.
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