The wholesales of commercial vehicles have now started seeing slowdown, and while the overall numbers continue to be in green, the single-digit growth on month-on-month basis could be an indicator that the segment again may be facing challenges.
In February, the overall commercial vehicle sales came at 72,434 units, a growth of 25 percent YoY (February 2021: 57,944 units), but just 3 percent higher compared to the previous month.
Tata Motors reported wholesales of 33,894 units, which was 9 percent higher compared to the same period last year. Except for the Intermediate & LCV segment the company saw an uptick in all segments.
Mahindra & Mahindra which is one of the most impacted companies due to the ongoing semiconductor shortage, reported wholesales of 20,166 units which was 119 percent higher albeit a low-year-ago base. In contrast, the company’s monthly sales was 4 percent lower when compared to the month of January 2022.
Ashok Leyland reported growth of 4 percent YoY, with wholesales of 13,281 units, compared to 12,776 units a year ago. The company reported a YoY decline of 12 percent in the LCV segment.
VE Commercial Vehicles continues to see sustained demand and reported wholesales of 5,093 units, 6 percent higher YoY, and 13 percent higher compared to January 2022.