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06 Nov 2023
Automobile

FADA Records a 10.26% Rise in CV Sales for Oct 2023, Sold 88,699 Vehicles

By News Date 06 Nov 2023

FADA Records a 10.26% Rise in CV Sales for Oct 2023, Sold 88,699 Vehicles

The Federation of Automobile Dealers Association has released the October 2023 sales data for commercial vehicles. Daimler India stands out with a remarkable 57% year-on-year sales increase in October.

FADA, short for the Federation of Automobile Dealers Association, has published truck sales reports for Oct 23. It includes the sales of popular Indian CV manufacturers in October 2023 and compares the figures with October 2022. 

According to the data, truck sales for October 2023 reached 88,699 units, surpassing the 80,446 units sold in October 2022, resulting in a 10.26% growth. 

Official Statement of FADA :-

Mr. Manish Raj Singhania, president of FADA, commented on the October performance and said, "The month commenced under the shadow of the inauspicious Shraddh period, persisting until the 14th. Consequently, a YoY comparison may not accurately reflect the actual growth trajectory in the Indian Auto Retail sector. Compared to MoM, Auto Retails flourished, achieving a 13% increase, with contributions from all categories. Two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles expanded by 15%, 2%, 7%, 15%, and 10%, respectively, underscoring the sector's robust growth momentum.”

“Navratri 2023 marked a milestone, with retail sales soaring by 18% year-over-year, surpassing the figures of Navratri 2017. Except for tractors, which saw an 8% decline, all categories exhibited commendable growth. Two-wheelers, three-wheelers, commercial vehicles, and passenger vehicles experienced increases of 22%, 43%, 9%, and 7%, respectively," he added. 

Brand-Wise Commercial Vehicles Sales Data

Here, we have segregated the section according to the brands-wise sales. 

Tata Motors: -

Tata Motors, India's biggest commercial vehicle manufacturer, has witnessed a favourable sales growth. The brand sold 32,006 CVs in October 2023, against 28,905 units in Oct 2022. According to the data, the brand's sales experienced a significant increase of 10.7%.

Mahindra & Mahindra: -

Mahindra Trucks sold 22,905 units of commercial vehicles in October 2023. In comparison, the brand closed the same month last year with 21,054 units. As a result, the brand grew 8.79% in October YO-Y sales.

Ashok Leyland: -

Ashok Leyland ended the month with a sales growth of 6.83% in October 2023. The brand sold 13,174 CVs in Oct last year, which increased to 14,074 units this year.

VECV: -

VECV is a joint venture between Volvo Trucks India and Eicher Trucks. They sold 6,435 CV units in October 2023, which closed at 5,343 units in October 2022, resulting in a sales growth of 20.44%.

Maruti Suzuki:-

Maruti Suzuki is steadily creating its space in the commercial vehicle segment. The brand experienced a 2.31% growth in October. They sold 3,945 units in Oct 2023 and closed with 3,856 in October 2022.

Daimler:-

Daimler India, or BharatBenz Trucks, gained the highest growth percentage in October 2023. The brand sold 1,945 Commercial Vehicles in October 2023 which was 1,236 units in Oct 2022. As a result, it registered a growth of 57%.

Force Motors Limited:-

This is yet another popular commercial vehicle manufacturer in India. Force Motors closed the month of October 2023 with a 29.8% growth in sales. It sold 1,279 units this October, compared to the 985 last year.

SML Isuzu:-

SML Isuzu also matched up with the growth of other OEMs. The brand recorded an increase of 9.9% in October 2023. The brand sold 653 units of CVs in October 2023, outnumbering the 594 units of October last year. 

Moreover, all the other brands contributed 5,457 CV units in October this year, compared to 5,299 units in October 2022. Resulting in a sales hike of 2.98%.

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