09 Apr 2025
Commercial Vehicle Retail Sales Remain Flat with -0.17% YoY Growth
The Federation of Automobile Dealers Associations (FADA) has released the commercial vehicle sales report for FY 2025. According to the data, total retail sales stood at 10,08,623 units, showing a marginal decline of -0.17% compared to 10,10,324 units sold in FY 2024.
FADA's Insights on FY 2025 Market Performance
FADA President, Mr. C S Vigneshwar, commented on the auto retail landscape in FY 2025, stating,
"Commercial Vehicles, on the other hand, came in nearly flat at -0.17%, reminding us just how much factors like unpredictable weather, financing constraints, and shifting consumer sentiment can shape overall demand."
He also highlighted the rural-urban divide in mobility sectors, noting that Three-Wheeler sales rose by 8.70% in rural areas, while urban growth remained minimal at 0.28%. Even in Passenger Vehicles, rural sales at 7.93% outpaced the 3.07% growth seen in cities.
Brand-Wise Commercial Vehicle Sales Report for FY 2025
Tata Motors
Tata Motors, India’s largest CV player, recorded the biggest YoY drop among top brands. The company sold 3,37,439 units in FY 2025 compared to 3,60,591 units in FY 2024, marking a -6.42% decline. The fall was influenced by financial tightening and slower movement in the fleet segment.
Mahindra & Mahindra
Mahindra & Mahindra posted a positive growth of 6.44% YoY, selling 2,57,447 units in FY 2025, up from 2,41,857 units in FY 2024. The brand benefitted from continued demand in the LCV category and strong traction in rural zones.
Ashok Leyland
Ashok Leyland remained nearly stable, with 1,67,465 units sold this year versus 1,68,164 units in the previous fiscal. This translates to a -0.41% YoY drop. The company sustained its stronghold in the heavy commercial segment, particularly in infrastructure-related sales.
VE Commercial Vehicles
VE Commercial Vehicles, the joint venture between Volvo and Eicher, posted a moderate growth of 2.06%, selling 75,986 units in FY 2025 compared to 74,451 units last year. The growth reflects rising adoption in fleet upgrade cycles.
Maruti Suzuki
Maruti Suzuki recorded a 6.57% increase in commercial vehicle sales, reaching 45,470 units in FY 2025, up from 42,667 units in FY 2024. Its compact and fuel-efficient offerings continue to attract small business owners.
Daimler India (BharatBenz)
Daimler India Commercial Vehicles saw a slight dip of -2.26%, selling 20,795 units in FY 2025 versus 21,276 units in FY 2024. Despite this, the brand maintained a loyal base in the premium truck segment.
Force Motors
Force Motors saw strong momentum, with a 16.80% YoY growth, selling 19,689 units this fiscal compared to 16,857 units last year. The growth can be attributed to high demand in school vans and rural cargo applications.
SML Isuzu
SML Isuzu delivered a solid 10.69% increase, retailing 11,816 units in FY 2025 compared to 10,675 units in FY 2024. The company’s focus on light-duty trucks has found favor with small fleet operators.
Others
The ‘Others’ category, comprising various small and electric CV manufacturers, posted a -1.72% decline, with sales dropping to 72,516 units from 73,786 units in FY 2024. This includes emerging players and niche vehicle brands.
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