FADA Sales Report September 2024: CV sales increased by 1.46% MoM

Key Highlights:

• FADA reported a 1.46% month-on-month growth in commercial vehicle sales for September 2024.
• Total sales reached 74,324 units, a 10.45% decline from September 2023.
• Heavy Commercial Vehicles (HCVs) saw an 8.11% month-on-month increase.
• Tata Motors remained the market leader, though its market share dropped from 35.90% to 33.46%.
• Mahindra & Mahindra and Ashok Leyland recorded slight increases in market share.
   

FADA, the Federation of Automobile Dealers Association, has shared the commercial vehicle sales data for September 2024.

According to the latest FADA Sales Report, combined CV sales totalled 74,324 units in September 2024, down from 82,993 units in September 2023. The CV segment experienced a MoM growth of 1.46% but declined by 10.45% YoY.

Commercial Vehicle Sales in September 2024: Category-Wise Breakdown

In September 2024, total commercial vehicle (CV) sales reached 74,324 units, slightly higher than the 73,253 units sold in August 2024, showing a 1.46% month-on-month growth. However, compared to 82,993 units sold in September 2023, there was a year-on-year decline of 10.45%.

Light Commercial Vehicles (LCVs) sold 41,715 units in September 2024, which is lower than the 42,496 units sold in August 2024, reflecting a 1.84% decline month-on-month. Year-on-year, LCV sales dropped by 11.87%, down from 47,334 units in September 2023.

Medium Commercial Vehicles (MCVs) recorded 6,090 units sold in September 2024, slightly down from 6,137 units in August 2024, a 0.77% decrease. However, compared to 5,855 units sold in September 2023, there was a 4.01% year-on-year growth.

Heavy Commercial Vehicles (HCVs) showed a strong month-on-month increase, with 22,941 units sold in September 2024, up 8.11% from 21,221 units in August 2024. Despite this growth, HCV sales were down by 11.71% compared to 25,984 units sold in September 2023.

In the Others category, which includes small and specialized vehicles, 3,578 units were sold in September 2024. This is a 5.27% increase from 3,399 units in August 2024 but a 6.34% decrease compared to the 3,820 units sold in September 2023.

OEM Wise CV Sales Data for September 2024

Total CV sales in September 2024 were 74,324 units, lower than 82,993 units in September 2023.

Tata Motors Ltd sold 24,872 units with a market share of 33.46%. Last year, they sold 29,798 units with a 35.90% market share.

Mahindra & Mahindra Ltd sold 18,666 units with a 25.11% market share. Last year, they sold 20,747 units with 25.00% share. Their market share has slightly increased.

Ashok Leyland Ltd sold 12,519 units, giving them a 16.84% market share. In September 2023, they sold 13,351 units with a 16.09% share. Their market share has improved.

VE Commercial Vehicles Ltd sold 6,011 units and had an 8.09% market share. In September 2023, company sold 5,890 units with a 7.10% market share, showing growth.

Maruti Suzuki India Ltd sold 3,453 units, holding a 4.65% market share. In 2023, they sold 3,513 units with 4.23% share, a slight increase.

Daimler India Commercial Vehicles Pvt. Ltd sold 1,518 units with a 2.04% market share. Last year, they sold 1,682 units with 2.03% share, showing little change.

Force Motors Ltd sold 1,322 units, taking 1.78% of the market share. In September 2023, company sold 1,269 units with a 1.53% share. Their market share increased.

SML Isuzu Ltd sold 913 units, capturing 1.23% of the market. In September 2023, company sold 761 units with a 0.92% share, showing an improvement.

Others sold 5,050 units, holding 6.79% of the market share. Last year, overall 5,982 units were sold with a 7.21% share, marking a decrease.

Overall, the total sales for commercial vehicles dropped compared to last year. Tata Motors remains the leader, though their market share declined, while Mahindra and Ashok Leyland showed slight growth.

Also Read: FADA Sales Report August 2024: CV Segment Experienced decline of 6.05% YOY.

CMV360 Says

The commercial vehicle market showed a modest month-on-month growth in September 2024, but the year-on-year decline indicates some challenges in the industry. While leaders like Tata Motors saw a drop in market share, competitors like Mahindra and Ashok Leyland made slight gains. Overall, the mixed performance across segments suggests that the market is still adjusting, and the focus on heavy vehicles could drive future growth.