CV Retail Sales October 2024 – Tata, Mahindra, Ashok Leyland,

In October 2024, commercial vehicle retail sales increased by 6.37% year-on-year and 31.06% month-on-month.

The Federation of Automobile Dealers Associations (FADA) revealed that vehicle retail sales in October 2024 showed improvement across all segments. Sales were boosted by the festive season and other factors such as strong customer demand, favorable monsoon and improved rural buying. The 2W segment grew by 36% year-on-year, passenger vehicle sales increased by 32% year-on-year, and commercial vehicle sales increased by 6% year-on-year.

Commercial vehicle retail sales in October 2024 – Tata Motors leads segment

When we further break down commercial vehicle (CV) sales, we see improvements in LCV and MCV segments, while HCV sales declined slightly. LCV sales increased by 9.11% year-on-year, and MCV sales increased by 6.38% year-on-year. However, HCV sales fell by 1.15% year-on-year due to demand.

Commercial vehicle sales in October 2024 were 997,411 units. This represents a year-on-year increase of 6% from 91,576 units sold in October 2023. The month-on-month retail sales in September 2024 were 74,324 vehicles, a significant increase of 31.06%. Despite slower year-on-year growth, Tata Motors continues to lead the segment. Its retail sales were 30,562 vehicles, occupying 31.37% of the list. In October 2023, its sales volume was 32,806 vehicles, with a market share of 35.86%.

In October 2024, Mahindra’s retail sales increased year-on-year to 27,769 units. As of October 2023, sales exceeded 22,984 vehicles, with a market share of 28.51%. In October 2024, Mahindra launched the new ZEO EV. The price of this 4W electric truck in India is Rs 7.52 lakh. It is available in Zeo V1 and Zeo V2 versions with a load capacity of 765 kg, making it ideal for last-mile mobility.

The sales of the third-ranked Ashok Leyland also increased from 14,883 units in October 2023 to 15,772 units in October 2024. It was followed by VE Commercial Vehicles, which sold 7,033 units last month, surpassing the 6,650 units sold in October 2023. The year-on-year decrease dropped from 7.26% to 7.22%.

Maruti Suzuki also recorded a significant increase in commercial vehicle sales in October 2024. Sales in the past month increased to 5,238 units from 3,989 units in October 2023. Market share increased from 4.36% year-on-year to 5.38%.

Resume Sales Less than 5,000 – October 2024

Some commercial vehicle OEMs have retail sales of less than 5,000 units. Daimler reported retail sales falling from 1,956 units in October 2023 to 1,894 units in October 2024. This caused its market share to drop significantly from 2.14% year-on-year to 1.94%.

Force Motors’ retail sales rose slightly to 1,370 units from 1,317 units in October 2023. SML Isuzu CV retail sales also increased to 852 units in the past month. 660 units were sold in the same month last year. Total retail sales by other commercial vehicle manufacturers increased by 6,921 units in October 2024, up from 6,331 units in October 2023.