Sales of medium and heavy commercial vehicles (M&HCV) have seen double-digit growth in August 2014, perhaps the first indication of an economic uptick.
02 Sep 2014 | 4182 Views | By Kiran Bajad
Sales of medium and heavy commercial vehicles (M&HCV) have seen double-digit growth in August 2014, perhaps the first indication of an economic uptick. Tata Motors recorded double-digit growth in the M&HCV segment after consistent decline. Ashok Leyland and Mahindra Trucks and Buses also saw an increase in their sales. These ...
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Sales of medium and heavy commercial vehicles (M&HCV) have seen double-digit growth in August 2014, perhaps the first indication of an economic uptick. Tata Motors recorded double-digit growth in the M&HCV segment after consistent decline. Ashok Leyland and Mahindra Trucks and Buses also saw an increase in their sales. These numbers may indicate that the CV sector in India is recovering after almost bottoming out.
In absolute numbers, Tata Motors’ overall sales (both heavy and light) slid 23 percent largely due to the prolonged slump in the LCV demand. It sold a total of 25,428 units (August 2013: 33,153 units).
Tata’s LCV numbers dropped by 35 percent – 16,287 units as against 24,904 units in July 2013. However, in a significant sign of positivity, M&HCV sales saw growth of 11 percent selling 9,141 units compared to 8,249 units a year ago.
Ashok Leyland posted an overall growth of 17 percent, with its M&HCVs selling 5,830 units, a strong growth of 18 percent (August 2013: 4,939). Its LCV sales recorded a 14 percent increase to 2,501 units (August 2013: 2,200).
VE Commercial Vehicles posted a sales decline of 6.9 percent in the domestic market in the 5-tonne and above category, selling 2,571 units (August 2013: 2,757).
Meanwhile, Mahindra Trucks and Buses recorded impressive growth of 27 percent, selling 597 units against 471 (August 2013: 471).