Commercial Vehicle retail sales increased 10.67 percent YoY in Dec 2022 with growth seen across all segments
FADA (Federation of Automobile Dealers Association), the apex national body of Automobile Retail Industry in India, has released retail sales data for December 2022. It was noted that total vehicle retail sales dipped by 5.40 percent in Dec 2022 on a YoY basis.
Two wheeler sales fell by 11.19 percent while 3 wheelers and passenger vehicles noted a 41.51 percent and 8.15 percent growth respectively. Tractor sales were higher by 5.24 percent and it was even commercial vehicle retail sales that increased by 10.67 percent.
Commercial Vehicle sales Dec 2022
Retail sales of commercial vehicles improved YoY across all segments except for the LCV segment which dipped 2.21 percent YoY. MCV sales grew by 1.88 percent and HCV sales were higher by 31.56 percent. Sales through calendar year 2022 also posted an overall growth when compared to sales both in CY 2021 and in CY2020 by 31.97 percent and 54.51 percent respectively.
Total CV retail sales stood at 66,945 units in Dec 2022, up from 60,491 unit retail sales experienced in Dec 2021.This was a MoM de-growth over 79,369 units sold in Nov 2022. Tata Motors, which headed the list, commanded 1/3rd of total retail sales with 26,049 units sold in the past month with a 38.91 percent market share. Sales in Dec 2021 had stood marginally higher at 26,614 units in Dec 2021 when market share had been at 44.00 percent.
At No. 2 was Mahindra with 16,928 units sold in the past month, up from 12,202 units sold in Dec 2021. Market share improved from 20.17 percent held in Dec 2021 to 25.29 percent in Dec 2022.
Ashok Leyland with a 15.20 percent market share had 10,178 units sold in this segment in Dec 2022 while there had been 8,224 units sold in Dec 2021. The company has seen good demand for its AVTR modular truck platform and in October 2022 had rolled out its 1,00,000 units of the truck built on this platform. The company is also set to ramp up production of Bada Dost in its LCV segment.
VECV, Maruti, Daimler, Force Motors
Commercial vehicle sales of VE increased to 4,113 units in Dec 2022 from 3,591 units sold in Dec 2021 allowing for an increase in market share to 6.14 percent from 5.94 percent YoY. Retail sales of Maruti Suzuki Commercial Vehicle dipped 3,043 units in Dec 2022 from 3,737 units sold in Dec 2021 bringing down market share to 4.55 percent from 6.18 percent YoY.
Daimler India (1,470 units), Force Motors (699 units) and SML Isuzu (591 units) each posted a YoY growth in commercial vehicle retails in Dec 2022. There were others in this segment that also accounted for retail sales of 3,874 units in Dec 2022 up from 3,841 units sold in Dec 2021.