9769 Views
Updated On: 10-May-2025 10:36 AM
April 2025 sees growth in India's commercial vehicle, electric mobility, and agricultural sectors, driven by key strategic expansions and demand.
Welcome to the CMV360 Weekly Wrap-Up for April 2025, where we bring you the latest updates and developments from India's commercial vehicle, electric mobility, and agricultural sectors.
This month saw a slight dip in commercial vehicle sales, with a 1.05% year-on-year decline. While light commercial vehicles (LCVs) faced a significant drop, the medium and heavy-duty segments showed mixed results. Tata Motors maintained its lead in CV sales, followed by Mahindra. In the electric mobility space, PMI Electro Mobility emerged as a dominant force in the electric bus market, reflecting the growing shift toward greener public transport solutions.
In the agricultural sector, tractor sales saw positive growth, with Mahindra and TAFE leading the charge. Meanwhile, the Maharashtra government's increased subsidies for tractor purchases provide a boost to farmers, further driving demand for farm equipment.
Additionally, key corporate moves, such as Mahindra's ambitious target to capture 10–12% of the truck and bus market by 2031 and Michelin India's new retail venture, highlight the ongoing expansion and innovation in the industry. Stay tuned as we delve deeper into these stories and more, shaping India's commercial and agricultural landscapes.
FADA Sales Report April 2025: CV sales decreased by 1.05% YoY
In April 2025, commercial vehicle sales dropped to 90,558 units, marking a 4.44% decline from March and a 1.05% from April 2024. LCV sales fell over 10% MoM, while MCV sales rose 6.08%. HCVs showed MoM growth but declined YoY. Tata Motors led with 30,398 units, followed by Mahindra with 21,043. FADA noted stable demand across most segments except CVs, citing price hikes, unchanged freight rates, and inventory buildup as key reasons for the drop, though bus sales remained strong.
Mahindra & Mahindra Targets 10–12% Market Share by 2031
Mahindra & Mahindra aims to expand its truck and bus division into a \$2–3 billion business, targeting a 10–12% market share by FY2031, up from the current 3%. A potential acquisition of SML Isuzu could boost its share to over 6% and revenue to ₹5,000 crore. The MT\&B division, a key growth area, has rebounded post-COVID. Mahindra holds a 21% share in school and staff bus segments and is focusing on product expansion, partnerships, and long-term market leadership.
Electric Buses Sales Report April 2025: PMI Electro Mobility Emerges as Top Choice for E-Buses
Electric bus sales in April 2025 rose to 284 units, up from 277 in March. PMI Electro Mobility led the market with 188 units and a 66.2% share, showing major growth. JBM Auto followed with 46 units, while Olectra Greentech’s sales dropped to 25. VE Commercial Vehicles entered the market with 12 buses. Tata Motors sold only 6 units, and other brands showed minimal activity. The overall market grew by 3% month-on-month, with mixed performance across manufacturers.
JBM Auto Reports Strong Growth in Q4 FY25
JBM Auto reported a 20.21% rise in Q4 FY25 net profit at ₹66 crore, with revenue growing 10.75% to ₹1,645.70 crore. For FY25, net profit reached ₹200.75 crore on ₹5,472.33 crore in sales. The company secured a major order for 1,021 electric buses under the PM e-Bus Seva Scheme worth ₹5,500 crore and launched new models at the Bharat Mobility Show 2025. Its Galaxy Electric Coach won the ‘Coach of the Year’ award, reinforcing its EV leadership.
Michelin India Opens First Tyres & Services Store in Lucknow
Michelin India, in partnership with Tyre On Wheels, has launched its first Michelin Tyres & Services store in Lucknow. Located in Gomtinagar and Ashiyana Chauraha, the outlet offers tyre fitment, wheel alignment, balancing, and other services. The move supports Michelin’s expansion into growing urban markets. Tyre On Wheels, a 60-year-old family-run business, will operate the outlet, offering Michelin’s premium products to meet rising local demand.
Ergon Labs and Omega Seiki Ink ₹50 Crore Deal to Launch IPC Technology in Electric Three-Wheelers
Omega Seiki Private Limited (OSPL) has partnered with Ergon Labs, placing a ₹50 crore order for Integrated Power Converter (IPC) tech that combines a charger and motor controller. The rollout will begin with 2,000 L5 passenger EVs in FY2026. IPC offers 30% better hill-climbing, 50% faster charging, and 30% cost savings. OSPL Chairman Uday Narang also invested in Ergon Labs and joined its advisory board. Both firms are developing a high-capacity L5 cargo EV to replace diesel vehicles.
Marposs India Teams Up with Omega Seiki Mobility for Electric Logistics
Marposs India has partnered with Omega Seiki Mobility to use electric three-wheelers for its logistics operations. This step supports Marposs’ sustainability goals and aligns with OSM’s clean mobility mission. The shift to electric vehicles will lower carbon emissions, reduce fuel and maintenance costs, and enhance delivery efficiency. Marposs, a leader in precision measurement, sees this as a move toward innovation with environmental responsibility.
Tata Motors Finance Merges with Tata Capital to Streamline Business
Tata Motors Finance Limited (TMFL) has officially merged with Tata Capital Limited (TCL) after receiving approval from the NCLT on May 6, 2025. With this merger, TMFL is no longer a step-down subsidiary of Tata Motors, and Tata Motors now holds a 4.7% stake in the merged entity. The move helps Tata Motors exit non-core operations and focus more on advanced automotive technologies. TMFL's ₹32,500 crore AUM will strengthen TCL’s position in commercial and passenger vehicle financing.
FADA Retail Tractor Sales Report April 2025: 60,915 Units Sold
The FADA report for April 2025 shows a 7.6% YoY increase in retail tractor sales, with 60,915 units sold versus 56,635 last year. Mahindra & Mahindra led with 14,042 units (23.05% share), followed by Swaraj with 11,593 units. TAFE showed strong growth with 6,838 units, while Kubota sales dropped sharply to 777 units.
Domestic Tractor Sales Report April 2025: 8.05% Growth with 83,131 Units Sold
India's domestic tractor market saw growth in April 2025, with 83,131 units sold, a rise of 8.05% from April 2024. Mahindra led the market with 38,516 units, though its share slightly dipped. TAFE, John Deere, and New Holland posted strong gains, while Escorts Kubota and Sonalika faced minor declines in market share. Other brands like SDF and ACE showed significant growth. The overall positive trend reflects strong rural demand and farming activity.
Maharashtra Government Increases Tractor Subsidy for Farmers: Get Up to ₹2 Lakh Support
The Maharashtra government has increased tractor subsidies for farmers under the Integrated Horticulture Development Mission. SC/ST and small farmers can now receive up to ₹2 lakh for tractor purchases, while other farmers can get up to ₹1.6 lakh. Power tiller subsidies have also risen to ₹1 lakh for SC/ST farmers. Women and first-time tractor buyers get preference. Farmers can apply via the MahaDBT portal, CSCs, or the Agriculture Department office. This initiative aims to improve farming efficiency and accessibility to modern equipment.
Escorts Kubota Targets 25% Export Share by FY26 with New Launches
Escorts Kubota plans to increase exports to 20–25% of total sales by FY26. Exports grew 36% in Q4 FY25 despite global challenges. New tractors under the Kubota, Powertrac, and Promax brands are set to launch in FY26. FY25 exports declined 11.2%, while domestic sales rose 1.6%. EKL exports to 62 countries, using Farmtrac and Powertrac brands. The company aims to leverage its global distribution network and new products to drive international growth in the coming year.
April 2025 has seen notable developments across India’s commercial vehicle, electric mobility, and agricultural sectors. Mahindra’s strategic expansion plans, including its target market share and potential acquisitions, set the stage for stronger competition and growth. The electric bus market also continues to evolve, with PMI Electro Mobility leading the charge. Meanwhile, the tractor market remains robust, bolstered by government subsidies and steady demand from key players like Mahindra and TAFE. These updates highlight a dynamic landscape, signaling a promising future for India’s commercial and agricultural industries.