FADA Sales Report April 2024: CV experienced a modest growth of 2% YoY

Key Highlights:
• FADA reports a 2% YoY growth in commercial vehicle (CV) sales for April 2024.
• Total CV sales in April 2024 reached 90,707 units, showing a 2.31% increase YoY but a 0.64% decline MoM.
•  LCV segment saw a YoY growth of 4.02% but a MoM decline of -4.71%.
•  MCV segment experienced a 0.80% YoY growth and a 6.01% MoM growth.
•  Tata Motors led in market share with 35.49%, followed by Mahindra & Mahindra and Ashok Leyland.

FADA, the Federation of Automobile Dealers Association has shared the commercial vehicle sales data for April 2024. The CV segment experienced a modest growth of 2% YoY.

According to the latest FADA Sales Report, combined CV sales reached 90,707 units in April 2024 compared to 88,663 units sold in April 2023. This shows there is an increase of 2.31% in YOY sales. However, there is a decline of 0.64% in MoM sales. In March 2024, 91,289 units of commercial vehicles were sold.

Commercial Vehicle Segment-wise Sales in April’24

LCV Segment

The Light Commercial Vehicle (LCV) segment sold 47,009 units in April 2024 compared to 45,191 in April 2023. A total of 47,009 units were sold in April 2024, compared to 49,332 units in March 2024. There is a decline of -4.71% in MoM sales but a growth of 4.02% in YoY sales.

MCV Segment

The Medium Commercial Vehicle (MCV) category sold 6,704 units in April 2024 compared to 6,651 in April 2023. A total of 6,704 units were sold in April 2024, compared to 6,324 units in March 2024. There is a growth of 6.01% in MoM sales and 0.80% in YoY sales. 

HCV Segment

The Heavy Commercial Vehicle (HCV) category sold 32,191 units in April 2024 compared to 33,293 in April 2023. A total of 32,191 units were sold in April 2024, compared to 30,394 units in March 2024. There is a growth of 5.91% in MoM sales and a decline of 3.31% in YoY sales.

Others Segment

All remaining segments of the CV category sold 4,803 units in April 2024 compared to 3,528 in April 2023. A total of 4,803 units were sold in April 2024, compared to 5,239 units in March 2024. There is a decline of 8.32% in MoM sales and a growth of 36.14%in YoY sales.

OEM Wise CV Sales Report

TATA MOTORS LTD

The company sold 32,194 commercial vehicles in April 2024, account about 35.49% of the total market share. In April 2023, they sold 33,787 vehicles, which accounted for 38.11% of the market share.

MAHINDRA & MAHINDRA LIMITED

They sold 20,620 commercial vehicles in April 2024, holding a market share of approximately 22.73%. In April 2023, their sales were 17,000 vehicles, with 19.17% of the market share.

ASHOK LEYLAND LTD

This company sold 16,423 commercial vehicles in April 2024, holding about 18.11% of the market share. In April 2023, their sales were 16,777 vehicles, which accounted for 18.92% of the market share.

VE COMMERCIAL VEHICLES LTD

They sold 6,861 commercial vehicles in April 2024, holding a market share of around 7.56%. In April 2023, their sales were 7,509 vehicles, constituting 8.47% of the market share.

MARUTI SUZUKI INDIA LTD

This company sold 3,389 commercial vehicles in April 2024, representing about 3.74% of the market share. In April 2023, their sales were 3,576 vehicles, which accounted for 4.03% of the market share.

DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD

They sold 1,983 commercial vehicles in April 2024, holding a market share of approximately 2.19%. In April 2023, their sales were 1,901 vehicles, holding 2.14% of the market share.

FORCE MOTORS LIMITED

This company sold 1,834 commercial vehicles in April 2024, representing about 2.02% of the market share. In April 2023, their sales were 1,167 vehicles, which accounted for 1.32% of the market share.

SML ISUZU LTD

They sold 1,076 commercial vehicles in April 2024, holding a market share of around 1.19%. In April 2023, their sales were 1,182 vehicles, having 1.33% of the market share.

Others

This category includes all other commercial vehicle manufacturers not listed individually. In April 2024, they sold 6,327 vehicles, holding 6.98% of the market share. In April 2023, their sales were 5,764 vehicles, which accounted for 6.50% of the market share.

Overall, in April 2024, the total number of commercial vehicles sold was 90,707, with each company contributing a certain percentage of the market share. In April 2023, the total sales were 88,663, with similar contributions from each company.

Also Read: FADA Sales Report March 2024: Commercial Vehicle Segment Shows Mixed Performance

CMV360 Says

In April 2024, commercial vehicle sales saw a modest 2% rise from last year. Though there was a small decline from the prior month, things are generally looking up. Light trucks dipped slightly, but medium and heavy ones are doing well. 

Tata Motors leads in sales, followed closely by Mahindra & Mahindra and Ashok Leyland. It's a mixed bag, but there's optimism for growth in the industry.