M&HCV, bus sales shift up in Q1; top 4 companies register 7.2 growth

H2FY25 expected to see demand revival as monsoons end; H1 affected by elections

Commercial vehicle (CV) sales, contrary to expectations of a downturn, have fared reasonably well in the first quarter (Q1) of 2024-25 (FY25), especially in the medium and heavy commercial vehicle (M&HCV) and bus segments.

The top four players — Tata Motors, Mahindra & Mahindra, Ashok Leyland, and Volvo Eicher Commercial Vehicles (VECV) — together sold over 150,454 units of medium to heavy trucks and buses between April and June 2024, registering a 7.2 per cent growth.

Girish Wagh, executive director at Tata Motors, said, “Tata Motors’ CV domestic sales at 87,615 units in Q1FY25 were around 7