Indian commercial vehicle market shows positive growth in May – ETAuto
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Ashok Leyland’s total commercial vehicle sales, including exports, stood at 14,682 units this month, representing a 12% increase compared to 13,134 units in May last year.”>India’s commercial vehicle sales demonstrated positive growth in May. Major manufacturers showed notable improvements, indicating a strong and thriving industry.
Tata Motors reported total commercial vehicle sales of 29,691 units in May, marking a 2% year-on-year growth. Their truck sales had a mixed performance with total truck sales reaching 12,402 units.
Heavy Commercial Vehicle (HCV) truck sales decreased by 3%, dropping from 8,160 units in May 2023 to 7,924 units in May 2024. In contrast, Intermediate Light Medium Commercial Vehicle (ILMCV) truck sales saw a significant increase of 30%, rising from 3,450 units last year to 4,478 units in May 2024.
Ashok Leyland’s total commercial vehicle sales, including exports, stood at 14,682 units this month, representing a 12% increase compared to 13,134 units in May last year.
The growth for Ashok Leyland was largely driven by notable gains in their bus segment, where sales surged by 53%, from 1,610 units last year to 2,463 units in May 2024. Truck segment sales saw modest growth, increasing by 2% from 6,660 units in May last year to 6,780 units this year.
Eicher Trucks and Buses also reported strong performance, with total sales in May reaching 6,719 units, up by 10.6% from 6,076 units in May last year. Domestic sales grew by 8.2% during the month. The export segment also showed growth, with exports increasing by 66%, climbing from 250 units last year to 415 units in May.
Overall, the Indian commercial vehicle market displayed solid growth in May. Ashok Leyland, Tata Motors, and Eicher Trucks and Buses all reported increases in sales.
Ashok Leyland’s bus segment and Eicher’s export segment showed particularly strong performance.
The sale figures in the commercial vehicle segment indicate a positive trend in the market, driven by both domestic demand and expanding export opportunities.
