Commercial vehicle retail sales in November 2024 – Tata, Mahindra, Ashok Leyland,

Sales data for November 2024 shows that most OEMs and all segments experienced declining commercial vehicle (CV) demand

The Federation of Automobile Dealers Associations (FADA) released retail sales data for November 2024. 2W sales increased by 15.8% year-on-year, and 3W and tractor sales increased by 4.23% and 29.88% respectively. Passenger car sales fell by 13.72% year-on-year, and commercial vehicle sales fell by 6.80%. As we assess commercial vehicle (CV) sales, dealers are facing lower demand due to a variety of factors.

Commercial vehicle sales in November 2024 – Tata ranks first

Total commercial vehicle sales in November 2024 were 81,867 units. Compared with sales of 87,272 units in November 2023, this represents a year-on-year decrease of 6.08%. The month-on-month sales volume also dropped 15.85% from the 97,411 units sold in October 2024. A breakdown of the commercial vehicle segment shows that overall sales have been suppressed. Light commercial vehicle sales fell 4.46% year-on-year and 15.15% month-on-month to 47,530 units. MCV sales fell by 0.05% year-on-year and 16.33% month-on-month to 5,473 units; HCV sales experienced double-digit declines, down 11.56% year-on-year and 17.22% month-on-month to 24,441 units.

In November 2024, Tata Motors continues to dominate the segment. Sales in the past month fell year-on-year, with 27,671 units sold. As of November 2023, sales exceeded 30,382 vehicles, and the market share dropped from 34.81% to 33.76% year-on-year. In second place is Mahindra, with sales of 23,046 units last month. This is a slight decrease from the 23,536 units sold in November 2023. But the market share increased from 26.97% to 28.12%.

Ashok Leyland’s commercial vehicle retail sales also declined year-on-year to 12,824 units, with a market share of 15.65%. 13,721 units were sold in November 2023, a decrease of 897 units. It was followed by VE Commercial Vehicles, a joint venture between Volvo and Eicher Motors, with sales of 5,517 units in November 2024, down from 5,773 units in the same month last year.

Maruti Suzuki CV retail sales November 2024

Maruti’s sales fell in November 2024 year-on-year despite the critical acclaim of its light commercial vehicle Super Carry. Maruti Suzuki sold 3,696 units last month. This is a year-over-year decrease from November 2023’s sales of 3,765 units. Daimler’s sales last month also fell to 1,573 vehicles from 1,837 vehicles in the same month of 2023.

Force Motors, on the other hand, was the only commercial vehicle OEM along with SML Isuzu to register year-on-year growth in commercial vehicle retail sales. Force Motor’s sales were 1,297 units, up from 1,214 units in November 2023, while SML Isuzu’s sales were significantly higher than the 571 units sold in the same month last year, with 730 units sold in November 2024. The total sales of other automakers were 5,613 units last month, down from 6,473 units in November 2023.