Brand Wise Commercial Vehicle Retails In December 2024: Tata Motors On Top With 33.5% Market Share

All top 4 commercial vehicle manufacturers – Tata, Mahindra, Ashok Leyland, and VECV – experienced a retail sales decline in the last month of calendar year 2024. Read more.

Key Highlights

• Tata Motors holds the top position in the Indian commercial vehicle industry with a market share of 33.58% in December 2024.
• With a 26.23% market share in December 2024, Mahindra & Mahindra sold 18,895 units compared to 19,722 units in December 2023.
• Ashok Leyland is the third most-selling CV brand in India, with a 16.06% market share in the retail sector in December 2024.

The retail sales figures for all vehicle segments, including commercial vehicles (CVs), have been released by the Federation of Automobile Dealers Associations (FADA) for December 2024. In order to provide a comprehensive overview of the monthly sales performance of all CV OEMs (Original Equipment Manufacturers), let’s explore the retail sales of commercial vehicles by brand in December 2024.

Tata Commercial Vehicles Retail In December 2024

From 26,743 units of commercial vehicles sold in December 2023 to 24,185 units in December 2024, Tata Commercial Vehicles observed a 9.57% YoY decline in retail sales. In December 2024, the company maintained its largest market share of 33.58%, despite a drop in monthly sales in the Indian retail industry. 

Mahindra Commercial Vehicles Retail In December 2024

With a 26.23% market share in December 2024, Mahindra Commercial Vehicles is the second-largest player in the Indian retail commercial vehicle market. Compared to the 19,722 units sold in December month of 2023, the brand sold 18,895 units in December 2024, showing a 4.19% YoY sales drop.

Related Link: Brand Wise Commercial Vehicle Retail Sales In November 2024: Mahindra Gains Market Share

Ashok Leyland Trucks Retail In December 2024

In December 2024, Ashok Leyland holds a 16.06% market share in the Indian commercial vehicle retail sector, making it the third-largest commercial vehicle manufacturer in the country in the list of top-selling CV brands. From December 2023 to December 2024, the company’s retail sales decreased 3.85% from 12,029 units to 11,566 units.

VECV Trucks Retail Sales In December 2024

In comparison to the 5,063 units sold in December 2023, VE Commercial Vehicle’s retail sales in December 2024 decreased by 11.04% YoY to 4,504 units. The company holds a 6.25% market share in the last month of December. Maruti Suzuki, which holds a 4.92% market share, witnessed an increase in retail sales of 10.55% YoY in December 2024, selling 3,543 units as opposed to 3,205 units in December 2023.

Daimler India CV Retail Sales In December 2024

In December 2024, BharatBenz Commercial Vehicles, formerly known as Daimler India Commercial Vehicles (DICV), reported retail sales of 1,579 units. Compared to 1,548 units sold in the same month last year, it reflects a marginal sales growth of 2% YoY. During this period, the company's market share was 2.19%, up from 2.04% in December 2023.

Force Motors CV Retail Sales In December 2024 

Force Motors sold 1,127 units in December 2024, reflecting a significant sales growth of 23.44% year over year from 913 units sold in the same month in 2023. Compared to the 1.2% market share in December 2023, the brand experienced a 1.56% market share in December 2024.

SML Isuzu Trucks Retail Sales In December 2024

While holding a 0.73% market share in the retail commercial vehicle market in December 2024, the SML Isuzu sold 526 units as compared to 625 units sold in December 2023. It shows a notable sales decline of 15.84% YoY. From 6,162 units sold in December 2023 to 6,103 units sold in December 2024, the other CV manufacturers' sales fell by 0.96% YoY.

Bottomline

India's retail sales of commercial vehicles fell 5.24% year over year to 72,028 units in December 2024 from 76,010 units in the same month the previous year. Retail sales in all CV categories, including LCV, MCV, and HCV, decreased during this period. Compared to November 2024, when 81,967 units were sold, the CV retail sector highlighted a 12.13% MoM sales decline.

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