The sales of commercial vehicles in the domestic market of India saw acute degrowth. The industry held back by the pandemic. We observed a total degrowth of around 21% for FY2021.
While the attention was more on individual mobility, we should memorise the repeated protests, lockdowns and rising cases of Covid-19 that had put the activity of the commercial vehicle on hold. The sale of commercial vehicles was significantly less, and on the other hand, the movement of commercial vehicles was restricted.
OEM Wise Domestic Sales:
- The top 3 rankings maintained by Tata Motors, Mahindra and Ashok Leyland.
- However, these three OEMs also gave the highest volume drop.
- Maruti has escalated the rankings and delivered the most elevated extension, and volumes increased by approximately 7,778 units.
- The highest market share came from MSIL. We also saw peripheral gains from VE and Ashok Leyland.
- The higher drop in market share came from Isuzu, Mahindra and Force.
The Industry observed a fall of 1,49,034 numbers for the FY2021, which is around 21% degrowth. Apart from MSIL, no other OEM has achieved any significant ground on the market share front.