TNI || New Delhi || 19th April 2022
Due to an increase in economic activity such as freight movement and road construction, the commercial vehicle segment increased by 19% year on year (YoY) during January and March to 2,49,806 units, up against 2,10,356 units in the same period last year.
According to Tata Motors and Ashok Leyland sources, demand for CNG CVs is growing across India, with the alternative fuel now available in many smaller cities.
Sales of light commercial vehicles are increasing
As per the latest figures from the Society of Indian Automobile Manufacturers, overall LCV sales grew by 20% to 1,55,832 units in January-March this year, up from 1,29,822 units the previous year.
Tata Motors, which has the biggest market share in the Indian CV industry, announced sales of 1,10,027 units in the fourth quarter of FY22, up roughly 21% from the previous quarter (Q3 FY22) and 12% from the same period last year (Q4 FY21).