The Indian commercial vehicle industry witnessed a resurgence in terms of sales for the month of May 2023 (YOY) with the 3 wheeler and commercial vehicle sales recording growth rates of 79%, and 7% respectively. This was revealed in the retail data released by the Federation of Automobile Dealers Associations (FADA).
The Commercial Vehicle segment experienced sustained growth, underpinned by the government's focus on infrastructure development. The bus segment displayed a notable increase, driven by improved financing options and higher sales in academic institutions.
All India Vehicle Retail Data for May’23
CATEGORY
MAY'23
MAY'22
YoY % (2022)
3W
79,433
44,482
78.57%
E-RICKSHAW(P)
36,755
21,045
74.65%
E-RICKSHAW WITH CART (G)
3,210
1,826
75.79%
THREE WHEELER (GOODS)
8,104
6,390
26.82%
THREE WHEELER (PASSENGER)
31,297
15,179
106.19%
THREE WHEELER (PERSONAL)
67
42
59.52%
CV
77,135
71,964
7.19%
LCV
41,149
42,176
-2.44%
MCV
6,047
4,768
HCV
26,399
22,927
15.14%
Others
3,540
2,093
69.14%
Source: FADA Research
Three-Wheeler OEM
Market Share (%) MAY'23
Market Share (%) MAY'22
BAJAJ AUTO LTD
27,085
34.1%
11,715
26.34%
PIAGGIO VEHICLES PVT LTD
5,427
6.8%
4,530
10.18%
MAHINDRA GROUP
4,832
6.1%
2,946
6.62%
MAHINDRA & MAHINDRA LIMITED
4,648
5.9%
1,872
4.21%
MAHINDRA REVA ELECTRIC VEHICLES PVT LTD
184
0.2%
1,074
2.41%
YC ELECTRIC VEHICLE
3,244
4.1%
2,044
4.60%
DILLI ELECTRIC AUTO PVT LTD
2,078
2.6%
1,061
2.39%
SAERA ELECTRIC AUTO PVT LTD
2,061
1,416
3.18%
ATUL AUTO LTD
1,568
2.0%
1,272
2.86%
TVS MOTOR COMPANY LTD
1,261
1.6%
1,229
2.76%
CHAMPION POLY PLAST
1,218
1.5%
940
2.11%
MINI METRO EV L.L.P
1,202
752
1.69%
UNIQUE INTERNATIONAL
1,122
1.4%
770
1.73%
HOTAGE CORPORATION INDIA
990
1.2%
249
0.56%
J. S. AUTO (P) LTD
960
638
1.43%
ALLFINE INDUSTRIES PVT LTD
838
1.1%
442
0.99%
Others including EV
25,547
32.16%
14,478
32.55%
Total
100%
Commercial Vehicle OEM
TATA MOTORS LTD
26,419
34.25%
29,173
40.54%
17,192
22.29%
15,636
21.73%
ASHOK LEYLAND LTD
13,807
17.90%
11,388
15.82%
VE COMMERCIAL VEHICLES LTD
7,040
9.13%
4,839
6.72%
MARUTI SUZUKI INDIA LTD
3,466
4.49%
3,166
4.40%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD
1,807
2.34%
1,193
1.66%
SML ISUZU LTD
1,212
1.57%
867
1.20%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE
1,188
1.54%
1,172
1.63%
5,004
6.49%
6.29%
100.00%
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