The commercial vehicle (CV) segment grew by a whopping 33pc in Nov 2022, as per the retail sales data released by the Federation of Automobile Dealers Associations (FADA).
The CV witnessed a growth of 33% YoY and 6% compared to 2019. With Government’s continued focus in the infrastructure space and new mining projects, replacement demand continued to pour in along with healthy inter-state passenger movement enabling bus sales.
The 3W segment showed a massive growth of 80% YoY and 4% when compared to 2019, a pre-covid year. The category which was witnessing low demand during covid has now emerged as the highest growing category due to positive sentiments and fear of lockdowns out of mind. Also, electrification in the category continues at its highest pace. As for the tractor segment, this grew by 57 per cent.
Commercial Vehicle OEM
NOV'22
Market Share (%), NOV'22
NOV'21
Market Share (%), NOV'21
TATA MOTORS LTD
30,282
38.15%
26,469
44.29%
MAHINDRA & MAHINDRA LIMITED
20,081
25.30%
12,044
20.15%
ASHOK LEYLAND LTD
13,084
16.49%
7,879
13.18%
VE COMMERCIAL VEHICLES LTD
5,270
6.64%
3,786
6.33%
MARUTI SUZUKI INDIA LTD
3,828
4.82%
3,664
6.13%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD
1,555
1.96%
1,149
1.92%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE
675
0.85%
650
1.09%
SML ISUZU LTD
586
0.74%
568
0.95%
Others
4,008
5.05%
3,556
5.95%
Total
79,369
100.00%
59,765
Source: FADA Research
Tractor OEM
MAHINDRA & MAHINDRA LIMITED (TRACTOR)
19,105
24.50%
10,704
21.52%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)
13,244
16.98%
7,666
15.41%
INTERNATIONAL TRACTORS LIMITED
9,610
12.32%
6,005
12.07%
TAFE LIMITED
9,080
11.64%
5,692
11.44%
ESCORTS LIMITED (AGRI MACHINERY GROUP)
8,549
10.96%
4,447
8.94%
JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION)
5,412
6.94%
3,777
7.59%
EICHER TRACTORS
5,049
6.47%
3,236
6.51%
CNH INDUSTRIAL (INDIA) PVT LTD
2,853
3.66%
1,719
3.46%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.
1,751
2.25%
1,150
2.31%
V.S.T. TILLERS TRACTORS LIMITED
492
0.63%
372
0.75%
391
0.50%
307
0.62%
GROMAX AGRI EQUIPMENT LTD
352
0.45%
172
0.35%
PREET TRACTORS PVT LTD
318
0.41%
314
1,787
2.29%
4,176
8.40%
77,993
49,737
Three-Wheeler OEM
BAJAJ AUTO LTD
26,652
36%
15,218
36.85%
PIAGGIO VEHICLES PVT LTD
5,364
7%
4,893
11.85%
YC ELECTRIC VEHICLE
3,067
4%
1,840
4.46%
2,484
3%
1,608
3.89%
SAERA ELECTRIC AUTO PVT LTD
2,089
898
2.17%
ATUL AUTO LTD
1,808
2%
1,400
3.39%
MAHINDRA REVA ELECTRIC VEHICLES PVT LTD
1,674
837
2.03%
DILLI ELECTRIC AUTO PVT LTD
1,461
604
1.46%
CHAMPION POLY PLAST
1,247
782
1.89%
MINI METRO EV L.L.P
1,232
409
0.99%
TVS MOTOR COMPANY LTD
1,223
857
2.08%
UNIQUE INTERNATIONAL
1,057
1%
456
1.10%
J. S. AUTO (P) LTD
861
513
1.24%
TERRA MOTORS INDIA PVT LTD
776
422
1.02%
ENERGY ELECTRIC VEHICLES
712
388
0.94%
VANI ELECTRIC VEHICLES PVT LTD
703
411
1.00%
Others including EV
22,063
30%
9,760
23.63%
74,473
100%
41,296
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