The commercial vehicle segment posted a healthy 8.22% YoY growth in retail sales with total figures just short of the 1 lakh unit mark
The commercial vehicle (CV) segment in India witnessed an 8.22% YoY and 38.04% MoM growth in retail sales to 99,425 units in Jan 2025. This was over 91,877 units sold in Jan 2024. Demand was higher in urban markets which grew to a 51.2% share. Almost all OEMs with the exception of Tata Motors and Daimler have seen sales growth.
CV Retail Sales Jan 2025
Federation of Automobile Dealers Associations (FADA), has revealed sales data for the commercial vehicle segment for Jan 2025. With total sales of 99,425 units in Jan 2025, an 8.22% YoY growth from 91,877 units sold in Jan 2024 and a 38.04% MoM improvement from 72,028 units sold in Dec 2024, the segment found better customer response from urban areas over its rural regions.
CV sales saw the LCV segment with 56,410 unit sales, showing off a strong YoY and MoM growth. The MCV segment too witnessed improved demand with 6,975 unit retail sales last month while the HCV segment had 30,061 unit sales but suffered a 0.53% YoY decline. Others in this segment added 5,979 units to total retail sales.
Along with strong YoY and MoM sales, the segment too showed off a marginal YTD increase. CV retail sales stood at 8,30,028 units in the FY25 period, up by 0.31% over 8,27,451 unit sales in FY24.
Tata Motors at No. 1 on CV Retail Sales List of Jan 2025
Tata Motors saw the highest sales in Jan 2025 with 31,393 units sold. This was a marginal decline from 31,816 unit sales of Jan 2024. It brought down market share to 31.57% from 34.63% YoY. The company’s commercial vehicle division continues to pay more emphasis to herald in new technologies including alternate fuel to zero emission battery electric, fuel cell electric and hydrogen ICE.
At No. 2, Mahindra saw its CV retail sales rise to 27,523 units, up from 23,675 unit sales of Jan 2024. Market share too improved dramatically to 27.68% from 25.77% on a YoY basis. Ashok Leyland had CV retail sales at 15,748 units in Jan 2025. This was a growth over 14,764 units of Jan 2024 though market share declined to 15.84% from 16.07% YoY.
VECV, a joint venture between Volvo Group and Eicher Motors had retail sales at 7,274 units in the past month up from 6,021 unit sales of Jan 2024 taking up market share to 7.32%. Maruti too witnessed a YoY growth in CV sales. Sales improved to 5,224 units in Jan 2025 from 4,227 unit sales of Jan 2024. This related to a 997 unit volume increase.
Retail sales of Daimler fell marginally to 2,151 units, down from 2,169 units sold in Jan 2024. It was followed by Force Motors that saw its retail sales up at 21,621 units in Jan 2025, a growth over 1,278 unit sales of Jan 2024. SML Isuzu too had improved demand in Jan 2025 with 690 unit retail sales, up from 677 units sold in the same month last year. Other OEMs added 7,801 units to total CV retail sales signaling a growth over 7,280 units sold in Jan 2024.
