FADA Sales Report November 2024: CV sales decreased by 6.08% YoY

Key Highlights:

• Commercial vehicle sales in November 2024 totaled 81,967 units, down 15.85% from October 2024.
• Year-on-year sales dropped by 6.08%, compared to November 2023, which saw 87,272 units sold.
• Light Commercial Vehicles (LCVs) experienced a 15.15% decline in sales from October 2024.
• Heavy Commercial Vehicles (HCVs) saw an 11.56% drop in YoY sales.
• Tata Motors maintained its lead with 27,671 units sold, holding a 33.76% market share.

FADA, the Federation of Automobile Dealers Association, has shared the commercial vehicle sales data for November 2024. According to the latest FADA Sales Report, combined CV sales totalled 81,967 units in November 2024, down from 97,411 units in October 2024. The CV segment also faced challenges in November 2024, with sales dropping by 15.85% month-on-month and 6.08% year-on-year. 

Several factors contributed to this decline, including limited product options, issues with older models, restricted financier support, and the lack of major festivals in November following a strong October. Additionally, external influences such as elections, a slowdown in the coal and cement industries, and weak market sentiment further impacted the sector.

Commercial Vehicle Sales in November 2024: Category-Wise Breakdown

Total CV Sales:

• In November 2024, total commercial vehicle sales stood at 81,967 units, marking a decline of 15.85% compared to October 2024, when 97,411 units were sold.
• Year-on-year, there was a 6.08% decrease in sales compared to November 2023, which recorded 87,272 units.

Light Commercial Vehicles (LCV):

• Light commercial vehicles (LCVs) sold 47,530 units in November 2024, experiencing a 15.15% drop from the 56,015 units sold in October 2024.
• Compared to November 2023, LCV sales decreased by 4.46%, as the segment had sold 49,751 units last year.

Medium Commercial Vehicles (MCV):

• Medium commercial vehicles (MCVs) recorded 5,473 units in sales, reflecting a 16.53% decline from October 2024, when 6,557 units were sold.
• There was only a slight decrease of 0.05% compared to the same month last year, November 2023, which saw 5,476 units sold.

Heavy Commercial Vehicles (HCV):

• Heavy commercial vehicles (HCVs) sold 24,441 units in November 2024, marking a 17.22% drop from October 2024, when 29,525 units were sold.
• The YoY sales for HCVs also saw a 11.56% decrease compared to November 2023, when 27,635 units were sold.

Others:

• The "Others" category of commercial vehicles recorded 4,523 units in November 2024, down by 14.89% compared to October 2024, which had 5,314 units sold.
• However, this category showed a 2.56% increase in sales compared to November 2023. In November 2023, 4,410 units were sold.

OEM Wise CV Sales Data for November 2024

In November 2024, the commercial vehicle market in India saw the following brand-wise sales figures and market share distribution:

Tata Motors Ltd: Tata Motors maintained the top position with 27,671 units sold, holding a 33.76% market share, although it saw a slight drop from 30,382 units and 34.81% share in November 2023.

Mahindra & Mahindra Ltd: Mahindra sold 23,046 units, capturing 28.12% of the market, showing a stable performance compared to 23,536 units and 26.97% share in November 2023.

Ashok Leyland Ltd: Ashok Leyland sold 12,824 units, which made up 15.65% of the market, a slight decrease from 13,721 units and 15.72% share in November 2023.

VE Commercial Vehicles Ltd: VE Commercial Vehicles sold 5,517 units, achieving a market share of 6.73%, a marginal decline from 5,773 units and 6.61% market share in November 2023.

Maruti Suzuki India Ltd: Maruti Suzuki's sales stood at 3,696 units, holding a 4.51% market share, which showed a slight increase from 3,765 units and 4.31% share in November 2023.

Daimler India Commercial Vehicles Pvt. Ltd: Daimler recorded sales of 1,573 units, with a 1.92% market share, a small drop from 1,837 units and 2.10% share in November 2023.

Force Motors Ltd: Force Motors saw a growth in sales, with 1,297 units sold, increasing its market share to 1.58% from 1,214 units and 1.39% share in November 2023.

SML Isuzu Ltd: SML Isuzu sold 730 units, capturing 0.89% of the market, up from 571 units and 0.65% market share in November 2023.

Others: In "Others" category, 5,613 units were sold, accounting for 6.85% of the market, a slight decrease from 6,473 units and 7.42% market share in November 2023.

Total Sales: Overall, the total commercial vehicle sales in November 2024 amounted to 81,967 units, a decrease from 87,272 units in November 2023.

Also Read: FADA Sales Report October 2024: CV sales increased by 6% YoY

CMV360 Says

The drop in commercial vehicle sales in November 2024 shows tough times for the industry. Both month-on-month and year-on-year sales decreased. While Tata Motors still leads, the overall decline across all vehicle types points to changing market needs. For more updates on sales, keep following CMV360 and stay tuned!