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Commercial Vehicle Retail Sales Statistics – September 2020

Mahindra was again India’s Top Commercial Vehicle maker for September 2020 and it commanded a market share of 35.04%. Mahindra’s Market Share improved a phenomenal 11.1% in Sep’20 v/s Sep’19!

The Commercial Vehicle sales has been under tremendous pressure since FY2020 and this year the volumes have dipped to all time low levels. The Commercial Vehicle registrations dipped by -33.6% YoY and only 39,600 CVs were registered in September 2020.

OEM wise CV Sales / Registrations for September 2020 –

Source: FADA Research

  1. Tata Motors CV sales fell by -52.6% and it lost Market Share of -12.5%. Tata’s loss was almost Mahindra’s gain!

  2. It is the Small Commercial Vehicles (SCVs) which have helped M&M to gain the lead over Tata. Due to the rise of e-commerce and hub & spoke model – SCV segment has seen steady rise. Bolero Pickup and Supro were the key models which led to M&M’s rise in the segment.

  3. Ashok Leyland degrew -49.8% YoY and its market share fell by -3.7%

  4. Maruti Suzuki has been able to catch up well and increased its market share solely on a single model (Super Carry). Maruti’s Market Share increased from 3.43% in Sep’19 to 5.9% in Sep’20. It was one of the sole CV OEMs to register a positive YoY growth.

Statewise CV Sales for September 2020 – 

  1. Maharashtra was India’s largest CV consumer state and around 5,524 CVs were registered in September 2020.

  2. Tamil Nadu came in a close second and 5,325 units were retailed in September 2020. Karnataka ranked third in the list and 3,226 CVs were sold in Sep’20.

  3. The Top 5 states contributed to over 50% of the overall CV sales. Also 76% of the CVs were sold in the Top 10 states!


  1. The above numbers do not have figures from AP, MP, LD & TS as all these States/UT’s are not yet on Vahan 4.

  2. Vehicle Registration Data has been collated as on 06.10.20 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,254 out of 1,461 RTOs.


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