Overall CV sales in India turn positive in October

In an upbeat sign, commercial vehicle sales in October 2015 indicate strong growth in the overall segment. In what is very good news for the industry, like the medium and commercial vehicles (M&HCV) segment, the LCV segment seems to have turned positive last month. 

Except for Tata Motors, the LCV segment has recorded strong growth for Ashok Leyland and Mahindra & Mahindra indicating recovery is underway in the segment albeit a slow one for the sector which has seen more than two years of slump.

As regards specific numbers, Tata Motors’ total sales of 26,119 units in the month were down 4 percent (October 2014: 27,249). M&HCVs continued double-digit growth of 20 % with sales of 12,504 units (October 2014: 10,352). The LCV sales remain a negative 19% YoY at 13,615 units (October 2014: 16,897).

Ashok Leyland’s total sales were up 17% at 9,804 units sold (October 2014: 8,402). M&HCV sales rose 22%, selling 7,177 units (October 2014: 5,865). Its LCV numbers were up a marginal 4% with sales of 2,627 units (October 2014: 2,537 units).

Like September, Mahindra M&HCV’s sales remain strong, up 169% selling 581 units (October 2014: 216 units). Bucking the industry trends largely due to the popular pick-up range, the less than 3.5 T GVW segment notched up 29% growth and sold 17,770 units (October 2014: 13,811 units). Similarly the above 3.5T GVW segment has increased by 27% growth selling 405 units (October 2014-318 units). 

VE Commercial Vehicles (VECV) saw double-digit growth in the month with sales of 3,466 units for growth of 39% (October 2014: 2,494). 

Also read:

- Festive consumer demand boosts Passenger Vehicle sales in October

- M&HCV sales maintain healthy growth in September