CMV360 Weekly Wrap-Up | 30th Dec 2024 – 3rd Jan 2025: Ashok Leyland's Growth, VECV's Export Rise, Mahindra's Tractor Sales Rise, Tata Motors Sales Dip, and Force Motors’ Ambulance Deal with UP

Welcome to this week's edition of the CMV360 Weekly Wrap-Up, where we bring you the latest highlights from the commercial vehicle and agricultural machinery sectors. In this update, we focus on key sales milestones, significant contracts, and the latest product launches that are driving growth and innovation. From Ashok Leyland’s impressive sales numbers to Force Motors’ major ambulance delivery contract, we cover the developments that are shaping the future of transportation. Additionally, we explore Tata Motors' strides in sustainability with the launch of electric buses, Mahindra’s growth in the tractor sector, and the performance of tractor manufacturers like Escorts Kubota and VST, as they navigate the challenges of the agricultural market. Stay tuned for a deeper look at how these companies are making an impact!

Ashok Leyland Achieves 14,721 Domestic & Export CV Sales in December 2024

Ashok Leyland reported a 6.34% YoY increase in total sales for December 2024, with 14,721 units sold across domestic and export markets. Domestic sales rose by 5.73%, driven by a 9% growth in the M&HCV segment, while LCV sales remained stable. Export sales surged by 26.41%, with a standout 144.34% growth in M&HCV exports, though LCV exports declined.

Despite minor declines in LCV exports, Ashok Leyland’s strong performance highlights its market leadership and focus on core segments.

Volvo Eicher Commercial Vehicles (VECV) Records December 2024 Sales of 6,426 Units

Volvo Eicher Commercial Vehicles (VECV) achieved a slight 0.55% growth in December 2024, with 6,426 units sold, up from 6,391 units in December 2023. Eicher CV sales saw a marginal decline of 0.28%, with domestic sales dropping by 2.99%. The Heavy Duty Trucks segment grew by 2.35%, while Light and Medium Duty Trucks faced a 5.87% decline.

Exports performed strongly, rising by 81.31%. The Light & Medium Duty export segment surged 94.51%, and Heavy Duty exports grew by 17.65%. Volvo Trucks recorded a 21.94% growth, with 289 units sold compared to 237 in December 2023.

VECV’s steady growth showcases its resilience, driven by strong export performance and growth in the Heavy Duty truck segment.

Mahindra Domestic CV Sales Rise to 25,252 Units in December 2024

Mahindra & Mahindra posted an 8.87% year-on-year growth in domestic sales for December 2024, with 25,252 units sold, up from 23,195 units in December 2023. This growth reflects Mahindra's innovation focus and customer-driven approach, despite challenges in some segments.

Sales Breakdown for December 2024:

Mahindra's export sales surged by 70%, with 3,092 units sold, compared to 1,819 in December 2023, underscoring its growing global presence. This solid performance highlights the company's strategic adaptability in key segments like LCV 2T–3.5T and exports.

Tata Motors Reports Marginal YoY Drop in Domestic CV Sales for December 2024

Tata Motors’ domestic commercial vehicle sales in December 2024 totaled 32,369 units, reflecting a slight 1% decline compared to 32,668 units in December 2023. Despite the drop, some segments showed growth.

Sales Breakdown for December 2024:

Tata Motors recorded 91,260 units sold in Q3 FY25, showing a 1% YoY decline but a significant recovery from the 19% drop in Q2 FY25. December sales were 24% higher than November 2024, with optimism for Q4 FY25 driven by infrastructure projects and end-use sector demand.

Force Motors to Deliver 2,429 Ambulances to Uttar Pradesh Health Department

Force Motors has secured a major contract to supply 2,429 ambulances to the Uttar Pradesh Health Department, aimed at enhancing emergency healthcare across urban and rural areas. The ambulances, built on the trusted Force Traveller platform, will be available in Patient Transport, Basic Life Support (BLS), Advanced Life Support (ALS), and Mobile Medical Unit (MMU) configurations. Designed for patient safety, comfort, and medical efficiency, these vehicles are equipped to handle India’s diverse road conditions. This move strengthens Force Motors' strong presence in the ambulance sector, continuing its commitment to providing reliable and efficient healthcare solutions. The deployment of these ambulances will significantly improve emergency medical services and response times across Uttar Pradesh.

Tata Motors Launches E-Bus Fleet at Pantnagar Plant, Boosting Sustainability Goals

Tata Motors has introduced a fleet of electric buses at its Pantnagar plant, contributing to its goal of achieving net-zero emissions by 2045. These Tata Ultra 9m buses, powered by advanced batteries and charged via a 16MW solar plant, will transport over 5,000 employees, reducing 1,100 tonnes of carbon emissions annually.

The buses, part of Tata Motors’ broader sustainability efforts, align with the company’s Zero Waste to Landfill certification and water-positive status. With over 3,100 electric buses deployed across India, Tata Motors leads in eco-friendly mobility, enhancing both operational efficiency and environmental impact.

Mahindra Tractor Sales Rise in December 2024, Showing 22% Growth

Mahindra & Mahindra Ltd.'s Farm Equipment Sector reported strong growth in December 2024, selling 22,019 tractors domestically, a 22% increase from December 2023. Overall, 22,943 tractors were sold, a 20% rise. Export sales, however, fell by 17%. Year-to-date (YTD) domestic sales grew 9%, reaching 324,327 units, while exports surged 28%. Hemant Sikka, President of the Farm Equipment Sector, attributed the growth to positive cash flow from the Kharif harvest and strong Rabi season sowing. Mahindra's performance indicates optimism for further growth, with favorable agricultural conditions supporting demand for tractors.

Escorts Kubota Tractor Sales Report December 2024: 5,016 Tractors Sold with 12.5% Decline

Escorts Kubota Ltd. reported a 10.8% decline in December 2024 tractor sales, with a total of 5,472 units sold. Domestic sales fell 12.5%, while exports rose 12.6%. Despite this, the company is optimistic, citing favorable conditions like strong rabi sowing and good water levels for a potential boost in demand. For Q3 FY24, total sales grew 4.5% to 32,556 units, driven by a 6% rise in domestic sales, but export sales dropped by 29.2%. Year-to-date sales for April-December FY24 declined by 0.8%, with domestic sales slightly up and exports down 26.2%.

VST Tractor and Power Tillers Sales Report December 2024: 365 Tractors & 3007 Power Tillers Sold

VST’s sales report for December 2024 showed a mixed performance. The company sold 3,007 power tillers, a 47.5% increase from December 2023, contributing to total sales rising by 38.5% to 3,372 units. However, tractor sales declined by 7.6%, with 365 units sold. For the year, power tiller sales fell 3.6% to 24,019 units, while tractor sales grew by 2.4%, reaching 3,997 units. Overall, VST’s total sales for 2024 dropped by 2.8%, with 28,016 units sold, indicating challenges in sustaining consistent growth across product segments.

CMV360 says

This week’s roundup highlights significant growth and innovation across both the commercial vehicle and agricultural machinery sectors. Ashok Leyland, Volvo Eicher, and Mahindra have shown strong sales performances, while Force Motors and Tata Motors are making impactful strides in the ambulance and electric vehicle sectors, respectively. Tata Motors’ focus on sustainability with its electric bus fleet and Force Motors’ contribution to emergency healthcare are pivotal examples of the sector’s forward-thinking approach. Additionally, the tractor sales sector remains dynamic, with Mahindra showing impressive growth, while VST and Escorts Kubota face challenges and optimism for future demand. As these companies continue to lead with innovation, growth, and sustainability, the industry is set for further advancements in the coming months.