Commercial Vehicle retails / registrations have dipped by a mammoth -193 percent in May 2021 over April 2021. Overall CVs sold in May 2021 were 17,534 units, down 193% percent over 51,436 units in April 2021. Do note that the sales declined even though the May 2021 base was low last year. However, the shut down of plants is one of the bigger attributed factors here.
The industry has been experiencing challenging times because of the increased vehicle prices, lower finance availability, pressure on repayment, and the commercial segment suffering post-pandemic.
There was also repayment pressure due to the moratorium period getting over on commercial vehicle owners and the dip in business has added to the owes. The category showed growth in some markets/subcategories where Government Infrastructure spending has begun. However, Bus segment continued to suffer due to the ongoing Pandemic and lower inclination towards usage of public transport.
Tata Motors registered a market share of 41.97 percent and was the largest CV maker for May 2021. However, the OEM suffered a decline of 0.41 percent in terms of retail sales which was 7,359 units in May 2021, down from 21,809 units retailed in April 2021
Mahindra gained Market Share in May 2021, however, it also recorded degrowth of -190.34 percent in retail sales - it dipped to 3,366 units in March 2021, down from 9,773 units retailed in April 2021.
Ashok Leyland ranked third in terms of registrations for May 2021 and the de-growth stood at -193% percent with 2,785 units retailed, down from 8,185 units in April 2021.
Volvo Eicher too reported a -269% dip in registrations for May 2021 which declined from 3,409 units in April 2021 to 923 units.
Maruti Suzuki also degrew in volumes but showed marginal gains in market share. Its market share shot up to 4.84 percent in May 2021 against a 4.70 percent market share in April 2021.
Daimler registrations dipped 188 percent in May 2021 to 445 units, down from 1,247 units in April 2021.
Force Motors retails recorded MoM growth of 15.34 percent to 639 units, up from 541 units retailed in April 2021.
1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
2. Vehicle Retail Data has been collated as of 08.06.21 in collaboration with the Ministry of Road Transport & Highways, Government of India, and has been gathered from 1,294 out of 1,497 RTOs.
3. Data has also been borrowed from FADA research articles.