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Commercial Vehicle Sales Remain Upbeat During June 2016

Published On Jul 04, 2016By Prashant Talreja

Resurging of Indian commercial vehicle industry has become a cliché now as the market talks about percentage growth in sales these days. The recent report of sales numbers for the month of June supports that fact as well, where all major OEMs showed decent growth if not exponential. All the major companies namely Ashok Leyland, Mahindra and Mahindra, Tata Motors, VECE and others have demoed good earnings on YoY basis.

Starting up with Tata Motors, India’s largest commercial vehicle maker has posted more than decent growth of 14 percent in small commercial vehicle (SCV) segment. It’s after Mahindra recently claimed the top position from Tata in the SCV niche. The M&HCV sales, however, went down by 11 percent if compared to June 2015 sales. Overall, with 26,164 unit sales in both SCV and M&HCV, Tata Motors grew by 2 percent in June 2016.

Joint venture of Eicher and Volvo trucks, Volvo Eicher Commercial Vehicles (VECV) continued its double digit growth with 20.33 percent hike. The company sold 4,256 units in June 2016 compared to 3,537 units in June 2015. Ashok Leyland, on the other hand registered 7 percent YoY growth with total 11,108 units sold in June 2016. The company managed to sell 8,685 M&HCV units with at 8 percent growth, and 2,423 units of SCV which almost are identical to June 2015’s 2,413 units.

Another major player Mahindra and Mahindra also posted double digit growth with 28 percent in M&HCV segment. Although units sold were only 517 in June 2016 compared to 404 units in June 2015. Coming to Mahindra’s SCV segment where it leads the market, the company sold 11,955 units (11,507 units in June 2015) in the segment of GVW below 3.5 tonne with 4 percent hike and 1,068 units (826 units in June 2015) in segment above 3.5 tonne with 29 percent hike.

With good monsoon prediction this year should pave way for good CV sales, reasons like increasing diesel prices could dampen the growth, for a meanwhile only though. The cumulative sales in commercial vehicle segment in June 2016 stood at 78,292 units, higher by 10 percent than June 2015. If talking segment wise, SCV sales gained 11 percent with 43,191 units sold, while the M&HCV segment recorded 8 percent growth with 35,101 units sold in total. The CV industry is expected to grow at a rate of 10-12 percent for FY 2016-17 and with the current sales, it looks achievable.

See Also:

CV Industry Expects HD Truck Sales to Cross 2.80 Lakh Units for FY2016-17

Executive Director of Tata Commercial Vehicles Ravi Pisharody Confirmed for HD Truck Pune

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