Strong Growth: FADA Reports 2.02% Rise in Commercial Vehicle Sales for July 2023

In July, the Three-wheeler category saw all-time high monthly sales of 94,148 units, representing YoY and MoM increases of 74% and 9%, respectively.

In a positive sign for the commercial vehicle industry, the Federation of Automobile Dealers Associations (FADA) has reported a 2.02% increase in commercial vehicle sales for the month of July 2023. This uptick indicates a potential rebound for the sector, which has faced challenges due to the pandemic and economic uncertainties.

In July 2023, cumulative auto sales increased by 10% year on year, repeating the previous month. Despite a significant YoY gain, overall retail sales fell by 5% month on month.

All vehicle categories experienced YoY growth, including two-wheelers (2W) at 8%, three-wheelers (3W) at 74%, passenger vehicles (PV) at 4%, tractors (Trac) at 21%, and commercial vehicles (CV) at 2%. In July, the 3W category saw all-time high monthly sales of 94,148 units, representing YoY and MoM increases of 74% and 9%, respectively.

Commercial Vehicles Sales in July 2023

Tata Motors

Tata Motors, as we all know, is one of India's most prominent OEMs. In July 2023, the brand sold 26,635 CVs, compared to 28,451 in July 2022. As a result, Tata saw a 6.38% drop in sales.

Mahindra & Mahindra (M&M)

In July 2023, Mahindra & Mahindra sold a total of 17,582 commercial vehicles. In July 2022, the brand's sales totalled 17,294, representing a 1.67% increase.

Also Read: Auto sales in June grow by 10%, first-half sales by 53% of CY2023

Ashok Leyland

In July 2023, Ashok Leyland had a positive increase in CV sales statistics. In July 2023, the brand sold 11,600 commercial vehicles, up from 10,760 in July 2022. As a result, their sales increased by 7.81%.

VECV

VECV, a joint venture between Volvo Trucks India and Eicher Trucks, also reported strong sales. In July 2023, the brand sold 5,288 units, an 11.33% increase over the 4,750 units sold in July 2022.

Maruti Suzuki

Maruti Suzuki, one of the leading Passenger Vehicle manufacturers, has done exceptionally well in July 2023 sales. In July 2023, the brand sold 3,315 units, compared to 2,921 in July 2022, representing a 13.49% increase.

Force Motors Limited (FML)

According to the FADA July 2023 sales report, Force Motors Limited sold 1,665 CV vehicles. In comparison, the brand sold 1,213 units in July 2022. As a result, the brand's sales increased by 37.26%.

Daimler

Daimler India or BharatBenz Trucks ended the month with 1,493 sold units compared to 878 sold in July 2022, a 70.05% increase.

SML Isuzu

SML Isuzu also finished the month of July with strong sales. The brand sold 1,135 CV units in July, a 15.11% increase over the 986 units sold in the same month last year.

In addition, in FADA July 2023, all of the remaining brands in this segment sold 4,352 units. Furthermore, all of these brands sold 4,366 units in July 2022 sales, resulting in a -0.32% drop.

Three-Wheeler Sales in July 2023

While the 2.02% increase may seem small, it is significant considering the recent volatility the commercial vehicle industry has experienced. This growth offers a glimmer of hope for manufacturers and dealers who have been navigating the challenges posed by supply chain disruptions, rising input costs, and changing consumer preferences.

As the year progresses, the industry will be closely watching for sustained growth trends, which could indicate a more stable and promising future for the commercial vehicle sector. However, challenges such as inflation, regulatory changes, and global economic dynamics still loom, making it crucial for stakeholders to remain adaptable and proactive in their strategies.