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)

| Category | October 2023 | October 2022 | YoY Change ||:---------:|:------------:|:------------:|:----------:|| LCV | 49,666 | 49,053 | +1.25% || MCV | 5,980 | 4,792 | +24.79% || HCV | 28,940 | 24,300 | +19.09% || Others | 4,113 | 2,301 | +78.75% || Total CV | 88,699 | 80,446 | +10.26% |

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.