Commercial Vehicles Retail Sales Increase 7.58% in May 2023

Tata Motors took the lead with the highest CV sales in the market. However, it still took a dip of 9.44%, with 26,419 units sold in May 2023, as compared to 29,173 units in May 2022.

Mahindra & Mahindra took the 2nd position, experiencing a 9.95% growth in May 2023. The brand ended the month with 17,192 units sold, as compared to 15,636 units sold in May 2022.

Ashok Leyland, a flagship firm of Hinduja Group, registered a sales growth of 21.24% in May 2023. This month they sold 13,807 units, as opposed to 11,388 units in May 2022.

VECV, a joint venture between Volvo & Eicher. This month, they recorded a 45.48% growth in their YoY sales. In May 2023, they sold 7,040 units, as compared to 4,839 units in May 2022.

Maruti Suzuki clocked in at a decent growth rate of 9.48%, with 3,466 units sold in May 2023, as compared to 3,166 units sold in May 2022.

BharatBenz experienced a phenomenal growth of 51.47% in May 2023. The company sold 1,807 units in May 2023, as compared to 1,193 units sold in 2022.

SML Isuzu also reported a positive growth of 39.79% in May 2023. The firm sold 1,212 units of CVs in May 2023, whereas in May 2022, it sold only 867 units.

Force Motors Limited experienced a slight growth of 1.37% in May 2023, with 1,188 units of CVs sold in May 2023, as compared to 1,172 units sold in May 2o22.