FADA Commercial Vehicle Sales Report for October 2023: a 10.26% growth at a total of 88,699 units

FADA reported total commercial vehicle sales of 88,699 units in October 2023 with a YoY growth of 10.26%. Daimler CVs and Force CVs saw a hike in YoY growth, Tata CVs hold the number one spot in market share at 36.08%.

FADA, the Federation of Automobile Dealers Association has shared the commercial vehicle sales data for October 2023. Commercial vehicle sales grew by 10.26% with total sales reaching 88,699 units. Daimler India Pvt. Ltd. is at the top of YoY growth with a +57% change, Force Motors Ltd saw a growth of 29.80% and VECV Ltd is at the third spot with a +20.44% YoY change.

President of FADA, Manish Raj Singhania said “The month commenced under the shadow of the inauspicious Shraddh period, persisting until the 14th. Consequently, a YoY comparison may not accurately reflect the actual growth trajectory in the Indian Auto Retail sector. Compared to MoM, Auto Retails flourished, achieving a 13% increase, with contributions from all categories. Commercial vehicles expanded by 10%, underscoring the sector's robust growth momentum.”

FADA Sales Data for Different CV Categories (Domestic)

LCV Category

For Light Commercial Vehicles (LCV), FADA reported total sales of 49,666 units in October 2023 which were at 49,053 units last year. A 1.25% YoY growth was noted in this category.

MCV Category

The Medium Commercial Vehicles (MCV) category saw a 24.79% YoY growth for Oct 2023. Total sales reached 5,980 units for this category which were previously at 4,792 units in Oct 2022.

HCV Category

For Heavy Commercial Vehicles (HCV), a growth of 19.09% was noted as the total sales numbers reached 28,940 units in October 2023.

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FADA Sales Data for Commercial Vehicle OEMs (Domestic)

Tata Motors Ltd reported a 10.73% growth in commercial vehicle sales as total sales reached 33,006 units. Also, Tata commercial vehicles held a 36.08% market share in Oct 2023 which was 35.93% in Oct 2022.

Mahindra & Mahindra Ltd, second by market share of 25.82%, saw a +8.79% YoY change with total commercial vehicle sales of 22,905 units.

Ashok Leyland Ltd sold a total of 14,074 units at a YoY growth of 6.83% when compared to 13,174 sales units in October 2022.

Maruti Suzuki India Ltd saw a slight YoY growth of 2.31% for commercial vehicle sales in October. SML Isuzu Ltd reported a 9.90% YoY growth at a total of 653 sales.