Mumbai - Tata Motors., an automobile manufacturer, reported a slight decline in its domestic commercial vehicle wholesale for December 2024, with sales falling by 9% year-on-year to 32,369 units. This decrease reflects a 1% drop from the 32,668 units sold in December 2023, attributed to limited growth in end-use segments.
Heavy commercial vehicles (HCV) saw a 15% drop, with 9,520 units sold in December 2024 compared to 11,199 units in December 2023. Meanwhile, intermediate, light, and medium commercial vehicles (ILMCV) remained nearly unchanged, recording 5,687 units in December 2024, slightly up from 5,675 units in December 2023.
Passenger carriers saw a 35% increase in sales, reaching 4,144 units in December 2024, up from 3,060 units in December 2023. The small commercial vehicle (SCV) cargo and pickup segment also grew by 2%, with 13,018 units sold in December 2024, compared to 12,734 units in December 2023. Domestic sales of medium and heavy commercial vehicles (MH&ICV), including trucks and buses, totaled 15,968 units in December 2024, down from 16,851 units in December 2023.
Mr. Girish Wagh, Executive Director of Tata Motors Ltd, said, "Tata Motors Commercial Vehicles registered domestic sales of 91,260 units in Q3 FY25, witnessing a marginal year-on-year (YoY) decline of 1% over Q3 FY24 and marking a significant improvement over the 19% YoY decline in sales recorded in Q2 FY25. Further, sales in December 2024 were 24% higher than those recorded in November 2024. Looking ahead, we expect demand to improve in Q4 FY25 across most segments of the CV industry. The key aspects to watch out for in 2025 will be the government's focus on infrastructure spend and growth in end-use segments, which will augur well for the commercial vehicle industry."
Wagh highlighted strong sequential growth in the HCV segment during Q3 FY25, driven by post-monsoon construction, mining, and festive demand, despite a 9% YoY decline. The ILMCV segment saw 3% YoY growth, while the MCV segment grew 40% YoY. Passenger carriers recorded a 30% YoY sales increase, fueled by demand from STUs and the travel sector. Small and light commercial vehicle sales fell 2% YoY, impacted by financing challenges for first-time users and rental customers.
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