The Indian commercial vehicle industry is seeing a smart uptick, and if the wholesales are anything to go by, the auto majors are expecting to see pick up in new as well as replacement demand.
For the month of August, the overall commercial vehicle sales came at 68,636 units, which was 45 percent higher compared to same period last year, and a 19 percent growth over the month of July.
The country’s largest commercial vehicle maker, reportedly sold 29,313 units, which was 12 percent higher YoY and 9 percent higher over the previous month.
The sales included 8,272 units in the M&HCV segment, (49% YoY) and 4,106 ILCVs (-11% YoY), 2,299 passenger carrier (170% YoY) and 14,181 SCV cargo and pickup (-5% YoY).
& Mahindra reported wholesales of 21,492 units, which was 143 percent higher YoY, albeit a low base of 8,841 units. And 30 percent higher compared to July when it sold 16,478 CVs in the domestic market.
The sales breakup includes 3,896 units in the 2-tonne LCV segment; 16,490 units in the ILCV (upto 3.5-tonne) category, and 656 units in the 3-tonne plus category.
Veejay Nakra, President, Automotive Division, Mahindra & Mahindra said, “Our commercial vehicles continue to deliver strong performance registering strong growth across segments. The supply chain situation continues to remain dynamic for select product lines and we are taking appropriate actions to minimize impact.”
The company states it has got good response to the recently launched new Bolero MaXX Pik-up.
Chennai-headquartered reported 58 percent growth in its domestic wholesales. It sold 13,301 CVs, compared to 8,400 units last year and 9,785 units in July.
The performance was driven by 92 percent growth in its M&HCV volumes at 7,671 units, compared to 3,986 units last year.
Volvo Eicher Commercial Vehicles (VECV) reported domestic sales of 4,530 units, which was 17 percent higher YoY, but a relatively flat growth compared to the month of July.
