Force Motors Posts Consecutive Monthly Growth in November and December 2025

Force Motors Limited recorded growth in domestic wholesale volumes for both November and December 2025, with the company reporting a 59% year-on-year increase in November followed by a 49% rise in December.

In November 2025, the company sold 2,765 units domestically compared to 1,736 units in November 2024. December sales reached 2,952 units against 1,985 units in the same month the previous year. The consecutive monthly gains indicate sustained momentum in the company's core business segments.

Quarterly and Year-to-Date Performance

The company's third quarter domestic wholesales grew 47%, rising from 5,723 units to 8,427 units. For the April to December 2025 period, domestic volumes reached 24,920 units, marking a 25% increase over the corresponding period in 2024, which recorded 19,911 units.

The quarter-on-quarter acceleration demonstrates strengthening demand across the company's product portfolio, with December marking the strongest monthly performance in the quarter.

Market Trends

Prasan Firodia, Managing Director of Force Motors Limited, attributed the performance to signs of revival in the tour and travel segment, supported by increased intercity movement and renewed fleet expansion. He noted that school mobility remained steady through the holiday period, reflecting institutional confidence heading into 2026.

The company has observed broad-based strengthening of demand across its platforms. The Urbania platform has gained traction in both urban and emerging markets, establishing itself in what the company terms the premium shared mobility segment. The Traveller range continues to maintain its position in the market.

Product Performance and Policy Impact

The company's performance has been supported by its Urbania and Trax platforms. The Trax product line has benefited from GST adjustments on rural mobility vehicles, which have improved affordability and stimulated replacement demand in rural and semi-urban areas.

The policy change has particularly impacted sales in regions where commercial vehicle replacement cycles had been delayed due to pricing constraints. The improved affordability has encouraged fleet operators to upgrade aging vehicles.

The Traveller platform has maintained consistent volumes with steady year-to-date growth, while the Monobus has gained traction through increased demand from institutional buyers and state transport departments. The institutional segment has shown particular strength as schools and government entities expand their transportation capacity.

Force Motors has discontinued production of three-wheelers and tractors, concentrating its operations on van and utility vehicle segments where it holds market leadership positions.

Export Performance and Total Volumes

Total wholesale volumes in November, including exports, grew 53% to 2,883 units. Export volumes declined 21% to 118 units in November, which the company attributed to variations in international shipment schedules. December export figures were not disclosed in the company's latest statement.

The company maintains export presence in the Middle East, Gulf region, Asia, Latin America, and Africa, though international volumes represent a smaller portion of overall sales compared to domestic operations.

The combination of policy support through GST adjustments, revival in the tour and travel sector, and steady institutional demand has created favorable conditions for the company's product portfolio. The company indicated that these trends provide a foundation for continued performance as it enters 2026, with customer confidence reflected across its core platforms.