The Commercial Vehicle market grew by a total of 49,025 units (278.44 per cent) Year-over-Year compared to May 2021 when the raging pandemic limited CV sales to just 17,607 units. However, Month-over-Month numbers were down by 15.01 per cent (11,766 units) compared to April 2022’s 78,398 units.
Tata Motors continued to lead the commercial vehicle market in May 2022 with the Mumbai-based automaker selling a total of 27,553 units. Tata’s sales numbers grew by 273.70 per cent (20,180 units) YoY compared to May 2021, when the automaker sold only 7,373 units. However, Month-over-Month sales numbers were down by 17.95 per cent (6,028 units) compared to April’s 33,581 units.
Mahindra was next in line growing by 337.10 per cent (11,367) YoY compared to May 2021. Last month, Mahindra sold 14,739 CVs compared to the 3,372 units sold in May 2021. However, Month-over-Month sales contracted by 12.56 per cent ( 2,118 units) compared to April, when Mahindra sold 16,857 units.
Ashok Leyland grabbed the last of the podium spots with the Chennai-based automaker selling a total of 10,391 units in May 2022. This figure marked a YoY increase of 272.17 per cent (7,599 units) compared to May 2021, when 2,792 CVs hit the streets. . MoM sales for Ashok Leyland were down by 15.41 per cent (1,893 units) compared to April, when Ashok Leyland sold 12,284 units.
In fourth was VE Commercial Vehicles (VECV) which sold 4,528 CVs in May 2022, a YoY increase of 387.93 per cent (3,600 units). VECV sold a total of just 928 units in May 2021. MoM sales metrics were down 16.86 per cent (918 units) compared to April’s 5,446 units sold.
In fifth was the nation’s largest carmaker Maruti Suzuki which sells the Super Carry as well as commercial versions of the Eeco, Alto, Dzire and Ertiga in the Indian market. Maruti’s YoY sales numbers were up by 241.26 per cent (2,140 units) in May 2022 when it sold 3,027 units. Over the same period last year, Maruti had sold only 887 units. Maruti’s MoM sales metrics were down by 13.19 per cent (460 units) compared to April’s sales figures of 3,487 units.
In sixth was Daimler which grew by 160.31 per cent (715 units) YoY in May 2021 selling a total of 1,161 CVs in India. Daimler had sold only 446 units over the same period last year. However, Month-over-Month sales dropped by 416 units (26.38 per cent) compared to April.
Force Motors occupied the seventh spot on our list growing by 78.56 per cent (502 units) to 1,141 units in May 2022. Over the same period last year, Force sold only 639 CVs. MoM sales numbers were also up by 36.16 per cent (303 units) compared to April 2022.
Isuzu occupied the 8th spot growing by nearly 600 per cent (737 units) YoY with the Japanese automaker selling 860 units last month. In May 2021, Isuzu’s sold just 123 units. MoM metrics were also up by 52 units compared to April.
Other automakers combined for another 3,232 units sold in May 2022 which was a YoY increase of 2,185 units (208.69 per cent) compared to the same period last year when 1,047 CVs were sold. However, MoM were down by 288 units compared to April.
Thoughts On CV Sales In May
The commercial vehicle market has bounced back from last year’s low numbers but the drop in Month-over-Month sales numbers is a cause for concern.