Staff Writer
Chennai: In a mixed performance for the commercial vehicle sector, total domestic sales for May 2025 showed a modest year-on-year growth of 5%, rising to 14,534 units from 13,852 units sold in May 2024. However, the cumulative domestic figures for the financial year so far (April-May) indicated a marginal dip of 1%, with 27,043 vehicles sold compared to 27,298 units during the same period last year.
Breaking down the segment-wise domestic performance for May 2025, Medium and Heavy Commercial Vehicle (M&HCV) trucks continued to drive growth, registering a 12% increase in monthly sales to 7,466 units from 6,648 units in May 2024. On a cumulative basis, M&HCV truck sales edged up by 1%, reaching 13,381 units against 13,185 units in the corresponding period last year.
The M&HCV bus segment remained largely stable, with a marginal 1% year-on-year growth in May 2025, rising to 1,920 units from 1,903 units a year earlier. However, the cumulative sales for the first two months of FY26 fell by 14%, declining to 3,411 units from 3,977 in the same period of FY25.
Overall, the total M&HCV segment posted a 10% increase in domestic sales for May 2025, clocking 9,386 units as against 8,551 units in May 2024. Yet, the segment witnessed a 2% decline in cumulative sales, falling from 17,162 units last year to 16,792 units this year.
Meanwhile, the Light Commercial Vehicle (LCV) segment showed a contrasting trend. LCV sales in May 2025 declined by 3% to 5,148 units, down from 5,301 units in May 2024. Nonetheless, cumulative sales for April and May combined managed a slight 1% growth, reaching 10,251 units compared to 10,136 units in the previous fiscal.
When exports are factored in, the total vehicle sales (Domestic + Exports) for May 2025 touched 15,484 units, marking a 5% rise over the 14,682 units sold in May 2024. However, the cumulative figures for the April-May period remained almost flat, showing a negligible decrease of 0%, with sales totaling 28,905 units against 28,953 units in the same timeframe last year.
In the combined domestic and export markets, M&HCV trucks maintained their strong showing with a 12% rise in monthly sales to 7,606 units, and a 1% growth in cumulative sales to 13,725 units. The M&HCV bus segment also posted a 9% increase in May 2025 sales, totaling 2,676 units versus 2,463 units last year. Still, cumulative sales dipped by 7% to 4,517 units from 4,834 units.
Overall, the total M&HCV category (including exports) grew by 11% in May 2025, reaching 10,282 units from 9,243 units. The segment’s cumulative performance remained slightly lower, recording a 1% dip to 18,242 units against 18,366 units during the same period last year.
LCV sales in the combined market mirrored domestic trends with a 4% decline in May sales, amounting to 5,202 units compared to 5,439 units in May 2024. Cumulatively, however, LCV sales rose marginally by 1% to 10,663 units from 10,587 units in the same period last year.
The data indicates that while certain sub-segments such as M&HCV trucks continue to show resilience and positive growth, challenges remain in the bus and LCV categories, particularly when assessed on a cumulative basis. The near-flat overall performance on the cumulative front reflects ongoing market pressures, even as monthly figures suggest some momentum returning to the commercial vehicle industry.
