CV Retail Sales March 2025 and FY25

Tata Truck

India’s commercial vehicle segment has been growing steadily. However, there are quite a few bumps and dips here and there. FY25 sales analysis was one of those bumps where India’s commercial vehicle segment witnessed YoY decline. That said, analysing March 2025 sales, we can see some growth in YoY. Let’s take a look at finer details.

CV Retail Sales March 2025

As per FADA Research (Federation of Automotive Dealers Association), India’s commercial vehicle segment registered a total of 94,764 units in the month of March 2025. When compared to the 92,292 units sold in March 2024, there was a 2.64% YoY growth. Volume gain YoY in March 2025 over March 2024 was 2,472 units.

This segment was led by Tata Motors with 30,474 units and accounting for 32.16% of the market share. Tata suffered losses in March 2025 as the sales dropped by 8.77% YoY when compared to 33,272 units sold in March 2024. The company has a lead in LCV and HCVs, while MHCVs need some work.

Mahindra took 2nd place with 24,170 units and 25.51% market share. There was a 10.79% increase YoY when opposed to 21,816 units from last year. Ashok Leyland and VE Commercial (Volvo Eicher) secured 3rd and 4th positions on this list as they sold 16,365 and 6,777 units respectively. Ashok Leyland registered 5.9% YoY growth, while VE’s sales dropped by 0.54%.

CV Retail Sales March 2025

These were followed by Maruti Suzuki in 5th place with 3,930 units, Force Motors in 6th place with 2,692 units, Daimler India in 7th place with 1,850 units, SML Isuzu in 8th place with 1,027 units and other brands constituted for 7,479 units in total.

CV Retail Sales FY25

In FY25 sales analysis of India’s commercial vehicle segment, we can see that the segment witnessed a total sales of 10,08,623 units. When compared to the 10,10,324 units sold in FY24, there was a 0.168% YoY decline in sales. This led to a volume decline of 1,701 units YoY in FY25 over sales performance in FY24.

Even in FY25 sales analysis, Tata Motors led the charts with 3,37,439 units sold and accounted for 33.46% market share. Sales see a decline of 6.42% YoY as Tata sold 3,60,591 units in FY24. This was a decline of 23,152 units in volume YoY in FY25 as opposed to the sales performance last year.

CV Retail Sales FY25

Mahindra and Ashok Leyland secured 2nd and 3rd places with 2,57,447 units and 1,67,465 units sold, respectively. Mahindra registered a 6.44% YoY growth over 2,41,857 units sold in FY24, while Ashok Leyland registered a 0.41% YoY decline when compared to the 1,68,164 units sold in FY24.

This was followed by VE Commercial (Volvo Eicher) in 4th place with 75,986 units, Maruti Suzuki in 5th place with 45,470 units, Daimler India in 6th place with 20,795 units, Force Motors in 7th place with 19,689 units, SML Isuzu in 8th place with 11,816 units and other brands with a total of 72,516 units.

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