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Infrastructure project drives recovery for M&HCV sales in September 2021

The commercial vehicle industry is witnessing recovery from the shock of the COVID-19 pandemic. The Medium and Heavy Commercial Vehicles, in particular, is observing a large scale of growth. The reason behind this growth is the rise in infrastructure activities in the economy after the pandemic. In the month of September 2021, the M&HCV sector recorded an average growth of 67% growth in sales of vehicles.

Tata Motors remains the leader in the commercial vehicle industry. The company has sold 30,258 units of commercial vehicles in the month of September. This is an increase of 30% compared to the sales of last year. The remarkable point is that the company has reported a rise in sales of vehicles in all the segments.

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Regarding this, Girish Wagh, Executive Director, Tata Motors, said, “Tata Motors’ CV domestic saled in Q2 FY2022 at 78,226 units was around 80% higher than the previous quarter and 50% higher the same quarter last year (Q2 FY2021). Post the second Covid wave, markets are witnessing gradual demand recovery across most segments led by M&HCVs with improving fleet utilisation levels, higher number of road construction projects awarded and improving cement consumption. International business continued the recovery momentum and grew by around 28% over the previous quarter and 155% over the same quarter last year (Q1 FY2021).” “Tata Motors’ CV domestic saled in Q2 FY2022 at 78,226 units was around 80% higher than the previous quarter and 50% higher the same quarter last year (Q2 FY2021). Post the second Covid wave, markets are witnessing gradual demand recovery across most segments led by M&HCVs with improving fleet utilisation levels, higher number of road construction projects awarded and improving cement consumption. International business continued the recovery momentum and grew by around 28% over the previous quarter and 155% over the same quarter last year (Q1 FY2021).”

Ashok Leyland  has sold 41,866 units of its commercial vehicles in Q2 of the Financial Year 2022. This is the rise of 96% compared to the sales made during last year in the same period. For the month of September alone, the company has sold a total of 8,787 units of vehicles which is an increase of 12 percent from last year.

Mahindra and Mahindra, on the other hand, has suffered a decline in sales of their vehicles by 50% in September 2021. The company has sold 9,468 units of vehicles this month. This is less than the sales made last year in the same month, which was 18,907 units of vehicles. The company in total in Q2 of the FY 2022 has sold 70,099 units of vehicles. The decline in the sales for the company is because of the shortage of semi-conductor, which has impacted the auto sector globally.

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