​Light Commercial Vehicle Sales Back on Track in India

A strong transport industry is often termed as the backbone of a developing economy. The number of commercial vehicles plying on the roads of a country clearly indicate the health of its transport industry. The more the number of vehicles, the better the health. Additionally, the rate at which new CVs are added to the existing transport infrastructure of a country also hints majorly towards the flourishing economy.

Commercial vehicle manufactures in India have sold a total of 195,767 LCVs within the April-September 2016 time frame. LCV segment in India had registered sales of only 175,270 units in the same time frame last year. The change in numbers denote a positive improvement of 11.69 percent in the LCV category.

Major Players - Tata Motors, Mahindra and Mahindra, VECV, Ashok Leyland and Force Motors

VECV rules the 6-7.5 tonne category

The bond between Volvo and Eicher is scaling new heights in the country. The joint venture between the two, VECV, has sold 3,111 LCV units and currently holds 53 percent share of the 6-7.5 tonne segment’s market. It closest contenders include Mahindra and Tata Motors.

Tata Motors is the ‘Loadking’ in the 3.5-6 tonne category

Tata Motors’ 407 has emerged as the clear winner in the 3.5-6 tonne segment. The CV manufacturer has sold 7,775 units during April-September 2016 window. Mahindra and VECV seem to be picking up in number of CV sales in the category but still have a lot of catching up to do.

Mahindra ‘Aces’ 2-3.5 tonne category

While Tata Motors with its Ace LCV has topped the 2-tonne category, Mahindra and Mahindra has been successfully able to ace the 2-3.5 tonne LCV category in the country. Thanks to Bolero Pick-up variants, Mahindra and Mahindra has grabbed the 72 percent share of the total 2-3.5 tonne category of commercial vehicles sold during April-September 2016. Though Tata Motors and Ashok Leyland have reported growth rates of 65 and 20 percent in the segment respectively, but are still lagging behind Mahindra by tens of thousands of LCVS.

Tata Motor registers ‘Jeet’ in the 2-tonne category

Tata Motors and Mahindra and Mahindra continue to dominate the 2-tonne mini truck segment in the country. Tata Motors and Mahindra have topped the charts again with 96 percent share in the 2-tonner category. Tata Motors sold 39,434 units in the category while Mahindra and Mahindra managed to sell 13,193 units only (Sales Figures during April-September 2016).

India’s transport industry is considered as one of the fastest developing commercial sectors in the world, and with LCV segment registering double digit growths in the months of August and September 2016, the Indian CV industry seems to be inching towards a promising future.