Commercial vehicle sales likely to rescale FY19 peak in two years

20 Jan 2022 CW Team

Commercial vehicle sales are likely to rescale or near the FY19 peak in two years, if the current growth in CV sales continues.

The demand will overlap with the general elections in 2024. Last general election year 2019 witnessed CV sales cross the one-million mark.

Lowest in a decade, CV volumes in FY21, at 5.68 lakh units, were just better than the FY10 figure of 5.31 lakh. With the final quarter of FY22 underway, the CV segment is likely to end the year with more than 6 lakh units.

Ageing fleets, continued increase in freight rates, enhancing truck utilisation, strong demand from e-commerce players and maintained demand from infrastructure firms will help drive demand for commercial vehicles, primarily trucks.

Total truck usage in the nation is estimated to have enhanced to 45-50% in some sectors, it has surpassed 85%. As recently as Q1 this year, trucks were idling 10 days per month.

Jalaj Gupta, Business Head (commercial vehicles unit), Mahindra & Mahindra (M&M), told the media that after the peak in FY19, they witnessed two consecutive years of decrease. Beginning this year, they expect a reversal of the curve. They will observe development every year at least till the general elections.

According to the Society of Indian Automobile Manufacturers (SIAM) data, domestic CV sales jumped 30% to 4,66,763 units in the April to December period this year, compared to 3,58,203 units the corresponding period last year. While last year’s comparable data is on a low base, the double-digit increase this year is due to strong fundamental demand, as per the market experts.

Since June 2021, after the second Covid-19 wave, freight costs for trucks gradually gained momentum along with enhancing utilisation levels. Rate decrease in November was due to a significant drop in diesel excise duty by nearly 10%.

Image Source

Also read: Shriram Automall closes deal with Ashok Leyland for commercial ...

Commercial vehicle sales are likely to rescale or near the FY19 peak in two years, if the current growth in CV sales continues. The demand will overlap with the general elections in 2024. Last general election year 2019 witnessed CV sales cross the one-million mark. Lowest in a decade, CV volumes in FY21, at 5.68 lakh units, were just better than the FY10 figure of 5.31 lakh. With the final quarter of FY22 underway, the CV segment is likely to end the year with more than 6 lakh units. Ageing fleets, continued increase in freight rates, enhancing truck utilisation, strong demand from e-commerce players and maintained demand from infrastructure firms will help drive demand for commercial vehicles, primarily trucks. Total truck usage in the nation is estimated to have enhanced to 45-50% in some sectors, it has surpassed 85%. As recently as Q1 this year, trucks were idling 10 days per month. Jalaj Gupta, Business Head (commercial vehicles unit), Mahindra & Mahindra (M&M), told the media that after the peak in FY19, they witnessed two consecutive years of decrease. Beginning this year, they expect a reversal of the curve. They will observe development every year at least till the general elections. According to the Society of Indian Automobile Manufacturers (SIAM) data, domestic CV sales jumped 30% to 4,66,763 units in the April to December period this year, compared to 3,58,203 units the corresponding period last year. While last year’s comparable data is on a low base, the double-digit increase this year is due to strong fundamental demand, as per the market experts. Since June 2021, after the second Covid-19 wave, freight costs for trucks gradually gained momentum along with enhancing utilisation levels. Rate decrease in November was due to a significant drop in diesel excise duty by nearly 10%. Image Source Also read: Shriram Automall closes deal with Ashok Leyland for commercial ...

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..