Commercial Vehicle Sales

GST reset brings balance back to India's commercial vehicle market: Antique

Following Covid-related disruptions, large fleet operators overwhelmingly opted for the 12 per cent FCM route, claiming ITC benefits on truck purchases.

Nuvama turns cautious on Tata Motors CV biz despite inline Q2 profitability

In Q2, Tata Motors' standalone revenue rose 9% Y-o-Y to ₹16,860 crore, coming in 3% below Nuvama's forecast due to an unfavourable mix that weighed on average selling prices.

India's auto sales flat in Q1 FY26; UVs, exports shine amid weak demand

India's auto sector began FY26 on a mixed note as UV sales and exports grew, but overall demand stayed soft. Two-wheelers and cars saw declines, while three-wheelers hit record Q1 sales

Commercial vehicle sales may grow 3-5% in wholesale volumes in FY26 : Icra

Domestic commercial vehicle (CV) industry is likely to see a 3-5 per cent year-on-year growth in wholesale volumes this fiscal, after logging a slight dip of 1.2 per cent in FY25, Icra said in a report on Monday. This growth is expected to be driven by resumption of construction and infrastructure activities and a steady economic environment, the ratings agency said in its latest report. Domestic CV wholesale volumes saw a miniscule 0.1 per cent increase in the previous month on a year-on-year basis, while sequentially it grew by around 1.6 per cent. However, in the first two months (April-May) of the current financial year, the CV wholesale volumes declined by 0.7 per cent year-on-year, it said. CV retail volumes, according to Icra, declined by 3.7 per cent year-on-year in May 2025, while sequential decline was at 11.3 per cent, it said, adding such trends reflect elevated inventory at dealerships' end. In the medium and heavy commercial vehicle (M&HCV) segment, retail sales ...

India's CV industry wholesale volumes to grow at 3-5% in FY26: Icra

Capital expenditure in the CV industry is also expected to rise significantly to Rs 58-60 billion in FY25 and FY26, up from Rs 34 billion in FY24

Ashok Leyland's Q3 margin surprises Street; analyst mixed on future growth

Ashok Leyland's Ebitda margin expanded 80 basis points (bps) to 12.8 per cent in Q3FY25, up from 12 per cent in Q3FY24, surpassing Street estimates

Nuvama bets on M&M, TVS Motor & Uno Minda ahead of November auto sales data

On the bourses, M&M has gained about 6% over the past month, while Uno Minda has surged more than 6%. On the flipside, TVS Motor dropped over 1%. In comparison, BSE Auto index declined nearly 2.5%

Ashok Leyland unveils GARUD 15M bus chassis, commercial launch in Q4FY25

Leading commercial vehicle manufacturer Ashok Leyland on Thursday announced unveiling its pioneering GARUD 15M bus chassis at Prawaas 4.0 in Bengaluru. The Hinduja Group flagship company unveiled the chassis at the event organised by Bus & Car Operators Confederation of India (BOCI). "The GARUD 15M is India's first front engine multi-axle bus chassis, setting a new standard in the industry. Designed specifically for long distance intercity travel, this innovative platform offers the largest saloon space available in Indian buses. With a best-in-class capacity of 42 sleeper berths, the GARUD 15M maximizes per-trip revenue for bus operators," a company release said. It has a cutting-edge design for comfortable long-distance travel. Shenu Agarwal, MD & CEO, Ashok Leyland said, "GARUD 15M represents a significant leap forward in bus chassis technology, combining advanced engineering with unparalleled comfort and efficiency." Sanjeev Kumar, President-MHCV at Ashok Leyland said, ...

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

Demerger to help commercial vehicle biz capitalise globally: Tata Motors

The proposed demerger of existing automotive business into two listed entities will help the commercial vehicle vertical become more agile and capitalise on the opportunities available globally, according to Tata Motors Executive Director Girish Wagh. In march this year, Tata Motors announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities. As part of the initiative, the commercial vehicle (CV) business and its related investments would be housed in one entity, while the passenger vehicle (PV) business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity. "The proposed demerger will help us improve focus and make us more agile to capitalise on opportunities in the CV market globally," Wagh, who heads the company's commercial vehicle business, said in a message to shareholders in the auto major's Annual Report for ..

Growth worries may keep Bharat Forge under pressure; earning estimate cut

Brokerages have cut their earnings estimates by up to 11 per cent, given the slowdown in multiple segments

Ashok Leyland would move towards 35% mkt share in MHCV segments: Hinduja

Hinduja Group flagship Ashok Leyland would safely remain above 30 per cent market share in the medium and heavy commercial vehicle segments and confidently move towards 35 per cent going forward, a top official said on Tuesday. The company expects to continue its growth in the medium, heavy and light commercial vehicle segments. The city-headquartered company reported a 61 per cent rise in net profit of Rs 580 crore on the back of robust sales. The company had posted a net profit of Rs 361 crore in the year-ago period. "The third quarter (of the current financial year) has been the best for Ashok Leyland. Before the start of this financial year we had expected that the medium and heavy commercial vehicle industry will grow at 8-10 per cent. The market has grown by 9 per cent (as of October-December 2023 period). Ashok Leyland has grown by 7 per cent in line with the industry growth and growth in bus segment is at 65 per cent almost twice the industry growth," Dheeraj Hinduja, the ..

Eicher enters small commercial vehicles segment, unveils 'EV-first' truck

The vehicle is scheduled for customer trials in April 2024, with a commercial rollout expected in the first quarter of 2025

India's PV sales to slow down in FY25, EV market to be steady: ICRA to Siam

Commercial vehicle market expected to retreat in election year

Mahindra expects to sustain growth momentum in SCV segment in FY25

Mahindra & Mahindra expects to sustain growth momentum in the small commercial vehicles segment in the next fiscal, as it looks to keep refreshing the range as per customer needs, a senior company official said on Thursday. The company on Thursday introduced the new Supro Profit Truck Excel series, available in both diesel and CNG Duo variants, priced between Rs 6.61 and Rs 6.93 lakh, respectively. The Small Commercial Vehicles (SCVs) are designed to cater to the needs of last-mile connectivity. "We are expecting the industry to grow 5-10 per cent next fiscal and we would like to do better than that," Mahindra Auto Vice President and Head of Sales Baneshwar Banerjee told PTI. He said the company keeps working towards continuous interventions in its product range as per customers' requirements. As part of that, the company plans to introduce air conditioning in its pick-up range in the coming months, Banerjee said. He noted that while the industry has witnessed a 22 per cent dip

Commercial vehicle segment set for growth with expanding economy: VECV MD

Domestic commercial vehicle industry is expected to touch the peak sales volume of 2018-19 this fiscal and grow briskly over the next few years coinciding with the growth of the overall economy, VE Commerical Vehicles MD and CEO Vinod Aggarwal said on Monday. He noted in the first seven months (April-October), the heavy duty truck segment has grown by 15 per cent. "We are expecting that this year the industry should either be very near to the peak or it may even cross earlier peak of 2018-19," Aggarwal told PTI here in an interaction. The industry is expected to grow over the next few years with the economy slated to cross the USD 5 trillion mark, he noted. "There are fundamental reasons for this growth in the next few years. If we look at the economy, we are now at around USD 4 trillion mark and this economy is going to reach the USD 5-7 trillion mark the way it is growing," Aggarwal said. And if the economy grows, the commercial vehicle industry also grows because when more good

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Ashok Leyland September sales: Total sales up 9% YoY to 19,202 units

Bus sales for the company more than doubled in domestic sales as Ashok Leyland dispatched 1,851 units in September, which is 119% more than the 847 units sold during the same period a year ago

10-12% price hike in commercial vehicles likely: Credit rating agency Icra

There are a number of proposed regulatory changes that could further increase the cost of CVs

New regulation can raise commercial vehicle prices by 10-12%: ICRA

Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12 per cent, ratings agency ICRA said on Monday. In its report on the Indian commercial vehicle industry, ICRA said the domestic automotive industry is undergoing rapid transformations, with increased focus by the government on implementing emission norms, safety systems and other standards that will bring the country at par with other major automotive markets. "Within the Indian automotive industry, the commercial vehicle (CV) sector has been the focus, given that CVs account for the major part of vehicular emissions in the country," it said, adding mandatory standards towards driver comfort and safety can help improve the driving conditions and road safety to a large extent. Accordingly, ICRA said there have been multiple regulatory interventions in the recent past, with the industry adopting stringent emission standards in a relatively short span of time, as well as driver ..