CMV360 Weekly Wrap-Up | That Mattered This Week (April 30th-May 06th): Mahindra LMM becomes the No. 1 Electric 3-Wheeler Manufacturer

Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.

Welcome to the Cmv360 Weekly Wrap-Up, where we offer you the most recent commercial vehicle industry news and developments. Stay tuned with us as we explore these and other automobile parts-related subjects.

Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.

Electric 3-Wheelers Have A Growth Of 73% Year on Year to over 37,500 Units

Electric vehicle retail sales increased 41% year on year in April 2023, the first month of the new fiscal year 2024, to 109,283 units (April 2022: 77,493 units). According to data from Vahan, April is the ninth month in a row that totals EV sales in India have surpassed 100,000 units. While April 2023 retail sales are up from January (20,709 units) and February (20,039 units), they are down 28% from March (20,541 units).

Escorts Kubota Limited sold 7,565 tractors in April 2023, a 9.1% Declined on YOY

In April 2023, the Escorts Kubota Limited company sold 7,565 tractor units, compared to 8,325 tractor units sold in April 2022. The company faces a 9.1% decrease this year. In April 2023, Escorts Kubota Domestic tractor Sales were 7,252 tractors whereas 7,676 tractor units were sold in April 2022. The company's domestic tractor sales have a decline of 5.5% as compared to April 2022.

Tata Motors' total sales declined by 4%.

In April 2023, Tata Motors Limited sold 69,599 automobiles in both domestic and foreign markets, compared to 72,468 units in April 2022. The company ended the month of April 2023 with a 28% decrease in domestic commercial vehicle sales and a 3% increase in export commercial vehicle sales. Commercial vehicle sales are declining overall.

Mahindra LMM becomes the No. 1 Electric 3-Wheeler Manufacturer in FY23.

Mahindra Last Mile Mobility (LMM), an Indian mobility powerhouse, has set another milestone by becoming the No. 1 manufacturer of electric 3-wheelers in FY'23. Electric three-wheelers are one of the country's top contributors to vehicle electrification.

VECV reported an overall sales increase of 18.9 per cent to 6,567 units in April 2023

Volvo manufactures its commercial vehicles in collaboration with Eicher Motors in India. Eicher Motors and Volvo recently issued Truck Sales Figures 2023 for the month of April. It demonstrates a strong 18.9% increase in sales. It reported sales of 6,567 units in April 2023, up from 5,525 units in April 2023. The company stated in a statement that this comprises 6,399 Eicher vehicles and 168 Volvo units.

Ashok Leyland anticipates a 10% increase in sales in April 2023.

The company sold 6,831 Medium and Heavy Commercial Vehicles Trucks, a 4% decrease from the 7,084 units sold in April 2022. M&HCV bus sales increased by 82%, with 1,102 units sold compared to 604 units sold in the same time the previous year. In all, M&HCV sales increased by 3%. In April, Ashok Leyland sold 5,041 light commercial vehicles, a 21% increase over the 4,159 units sold in the same month in 2022.

Mahindra & Mahindra commercial vehicles Sales Increased By 16% in April 2023

During the month, commercial vehicles increased by 16%. In April 2023, Mahindra & Mahindra sold 20,231 CVs. Three-wheeler sales increased by 85% to 5,552 units, up from 3,009 units last year. The brand is optimistic about further solidifying its position in the 3.5-ton LCV category, as they have recently launched the All New range of Bolero Maxx Pik-Up, which promises to be a game changer.

Mahindra Tractor's overall sales decreased by 11% in April 2023

Domestic tractor sales for Mahindra were 35398 units in April 2023, compared to 39405 units in April 2022. Mahindra's domestic tractor sales declined by 10%. Mahindra tractor export sales were 1007 units in April 2023, compared to 1534 units in April 2022. Export sales have decreased by 34%, according to sales figures.

V S T Tillers Tractors Limited's April sales were down 23% to 2202 units.

V S T Tillers Tractors Limited has announced its April 2023 sales numbers. The company sold 2202 units in April 2023, compared to 2862 units in April 2022. There is a decline of 23% in April sales.

BharatBenz Simulated Driver Trainer will digitally transform driving techniques.

Daimler India Commercial Vehicles, India’s most popular truck and bus brand announced the launch of the BharatBenz Simulated Driver Trainer project, which aims to improve driving abilities and adapt drivers to digital technologies.
This high-end, technologically advanced simulator is unique in the Indian commercial vehicle industry.

Altigreen has partnered with Sundaram Finance to provide financing options.

Altigreen, India's top commercial electric vehicle manufacturer, has collaborated with Sundaram Finance, one of the most known companies in the Indian financial services sector, to provide customized retail financing options to its customers in an effort to accelerate the EV purchasing process.

OSM intends to launch India's first hydrogen-powered rickshaw

Omega Saiki Mobility has planned to launch the country's first Hydrogen Based L-5 Category Rickshaw vehicle within the next six months. It has the potential to be a game changer in the L-5 Category rickshaw market. The vehicle will be able to go at least 350-400 kilometres on a single charge, even in rough terrain. It will have a load capacity of one ton and will be priced competitively with OSM's other products.

Volvo Group launches advanced medical services mobile clinic

The Volvo Group, in collaboration with Narayana Health, has developed a cutting-edge mobile community clinic named 'Wellness on Wheels' to deliver free community screening and medical services in rural Karnataka and other states throughout the country.

According To FADA, the 3-Wheeler Segment Has Grown By 57% YOY.

Three-wheelers have grown at the fastest rate of all industrial segments, increased by 57.22% to 70,928 units, up from 45,114 units in the same month last year. A total of 34,385 electric three-wheelers were sold, representing a significant 70.78% increase and accounting for 48.47% of total segment sales, up four percentage points from 44.62% the previous year. The e-rickshaw with cart (G) category increased by 69.58% year on year.

Piaggio launches new Apé Xtra LDX CNG cargo three-wheeler: Price, Mileage and Engine Specs

Piaggio Vehicles has launched the new CNG-powered Apé Xtra LDX for Rs 251,586 (ex-showroom Maharashtra). The company's proven 230cc, air-cooled, naturally-aspirated engine with 3-valve technology powers the latest Piaggio Ape.

The Apé Xtra LDX CNG has a 5.5-foot-long deck. The Ape Xtra LDX has been upgraded with features such as increased gradeability to 26 per cent, tubeless tyres, 17.1Nm of torque, best-in-class mileage of 40km/kg of CNG, the max speed of 56kmph, extra headroom, a top speed of 56kph and a warranty of 36 months or 100,000km.