FADA Sales Report June 2024: CV Segment Experienced A decline of 4.74% YOY.

Key Highlights: 

• FADA reports a 4.74% YoY decline in June 2024 CV sales, reaching 72,747 units.
• Extreme heat and delayed monsoons exacerbated rural sales.
• Tata Motors leads OEM sales with 35.63% market share, followed by Mahindra & Ashok Leyland.
• MCV segment grew by 5.51% YoY, while LCV sales declined by 6.46%.
• MoM CV sales declined by 12.42%, with 83,059 units sold in May 2024.

FADA, the Federation of Automobile Dealers Association has shared the commercial vehicle sales data for June 2024. The CV segment experienced a decline of 4.74% YOY. Dealers indicated that sales were significantly affected by Extreme heat and delayed monsoons.

FADA President Mr Manish Raj Singhania commented on June 2024's auto retail performance, stating, "June typically sees weaker auto sales in India. This year, while the monsoon progressed well in Maharashtra, it slowed down in West Bengal, Bihar, Uttar Pradesh, Chhattisgarh, and Madhya Pradesh. This, combined with a severe heatwave in northwest India, extended the period of heat and delayed summer crop sowing in northern and northwestern regions, affecting rural sales."

According to the latest FADA Sales Report, combined CV sales totalled 72,747 units in June 2024, down from 76,364 units in June 2023, marking a 4.74% decrease in Year-on-Year (YOY) sales. Additionally, there was a 12.42% decline in Month-on-Month (MoM) sales compared to May 2024, when 83,059 units of commercial vehicles were sold.

Commercial Vehicle Segment-wise Sales in June’24

LCV Segment

The Light Commercial Vehicle (LCV) segment sold 40,711 units in June 2024 compared to 43,523 in June 2023. A total of 45,712 units were sold in May 2024. There is a decline of 10.94% in MoM sales and 6.46% in YoY sales.

MCV Segment

The Medium Commercial Vehicle (MCV) category sold 6,872 units in June 2024 compared to 6,513 in June 2023. A total of 6,871 units were sold in May 2024. There is a growth of 0.01% in MoM sales and 5.51% in YoY sales.

HCV Segment

The Heavy Commercial Vehicle (HCV) category sold 21,546 units in June 2024 compared to 26,306 in June 2023. A total of 22,904 units were sold in May 2024. There is a decline of 18.09% in MoM sales and 5.93% in YoY sales. 

Others Segment

All remaining segments of the CV category sold 3,618 units in June 2024 compared to 4,170 in June 2023. A total of 3,424 units were sold in May 2024. There is a decline of 13.24% % in MoM sales and a growth of 5.67% in YoY sales.

OEM Wise CV June 2024 Sales Data

In May 2024, the commercial vehicle market saw significant ups and downs, with some companies gaining a larger share compared to last year.

TATA MOTORS LTD: Tata Motors reported sales of 25,919 commercial vehicles in June 2024, capturing a market share of 35.63%, slightly down from 26,799 vehicles and 35.09% market share in June 2023.

MAHINDRA & MAHINDRA LIMITED: Sold 17,468 commercial vehicles in June 2024, securing a market share of 24.01%, up from 16,938 vehicles and 22.18% market share in June 2023.

ASHOK LEYLAND LTD: Ashok Leyland recorded sales of 11,257 commercial vehicles in June 2024, achieving a market share of 15.47%, down from 12,696 vehicles and 16.63% market share in June 2023.

VE COMMERCIAL VEHICLES LTD: Volvo Eicher Commercial Vehicles sold 5,872 vehicles in June 2024, holding a market share of 8.07%, compared to 6,135 vehicles and 8.03% market share in June 2023.

MARUTI SUZUKI INDIA LTD: Maruti Suzuki's commercial vehicle sales were 2,883 units in June 2024, with a market share of 3.96%, down from 3,483 units and 4.56% market share in June 2023.

FORCE MOTORS LIMITED: Force Motors reported sales of 1,507 commercial vehicles in June 2024, capturing a market share of 2.07%, compared to 1,625 vehicles and 2.13% market share in June 2023.

DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD: Daimler India sold 1,499 commercial vehicles in June 2024, holding a market share of 2.06%, down from 1,575 vehicles and 2.06% market share in June 2023.

SML ISUZU LTD: SML Isuzu recorded sales of 1,497 commercial vehicles in June 2024, achieving a market share of 2.06%, compared to 1,265 vehicles and 1.66% market share in June 2023.

Others: Other manufacturers collectively sold 4,845 commercial vehicles in June 2024, accounting for 6.66% market share, down from 5,848 vehicles and 7.66% market share in June 2023.

Overall, the total commercial vehicle sales for June 2024 amounted to 72,747 units, marking a decrease from 76,364 units sold in June 2023.

Also Read: FADA Sales Report May 2024: CV Segment Experienced A 4% YOY Growth

CMV360 Says

FADA's report on June 2024's commercial vehicle sales, down by 4.74% from last year, reveals how weather issues like severe heat and delayed monsoons are hurting sales. Dealers worry about these conditions hitting rural areas hardest. It shows how unpredictable weather can shake up automobile markets and affect what people buy.