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Sales Analysis of Indian Commercial Vehicles market in CY2015

Published On Feb 11, 2016By Prashant Talreja

In the year of 2015, the CV industry witnessed a growth of 7.37 percent, with 650,993 sold over 606,255 units in the previous year. The M&HCV sector witnessed a whopping growth of 30.03 percent with 280,388 unit sold this year, and this contributed to the boom in the overall CV sector. The robust performance of the M&HCVs sector helped to supplant the weakened LCV segment, with slipped by 4.72 percent over the last year.

The Indian CV market stands among the top six global CV markets. Furthermore, industry experts foresee a huge rise in the coming decade with the an expanding infrastructure sector across major cities. Domestic giants Tata motors and Ashok Leyland command a strong lead in the market, as they have been for decades. In recent years, major European brands have also penetrated the mainstream market, including MAN trucks, Daimler Trucks, Scania and Volvo. This has led to increasing competition in the platform.

Tata Motors sold 290,437 units in locally this year, giving a 1.29 percent rise over the 286,735 overall units sold in 2014. Meanwhile, Mahindra & Mahindra capitalised on its strong SCV and pick-up segment performance, and currently stands as the second largest CV player with a 24% market share. This year the company registered an overall sales of 158,588 units, over 160,042 units in 2014.

Ashok Leyland sold 117,751 units this year against 83,834 units in the previous one, reflecting a sound 40 per cent growth in M&HCV segment. Meanwhile, VE commercial vehicles, a joint venture between Volvo and home-grown Eicher, saw a sales boost of 18 percent, with a sales of 40,411 units. Force motors sold 22,419 units this year, against 19,990 units in the last, giving a 12 percent rise this year.

See Also:

Delhi Government Imposes New Entry Timings for Commercial Vehicles

FADA Conducts Ninth Auto Summit in Delhi

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