A festive season usually doesn’t have as much influence on the sale of commercial vehicles as it would have on the same of passenger vehicles and two-wheelers. The recent festive season saw a spike in passenger vehicle and two-wheeler sales spread over the last few days of October 2024 and the first few days of November 2024. 
Tata Motors reported a sale of 27,636 commercial vehicles in November 2024 as compared to the sale of 28,029 units in November 2023, marking a decline of one percent. The commercial vehicle major recorded a sale of 26,183 units in November 2024 in the domestic market, down one percent, as compared to the sale of 26,579 in November 2023. 
While passenger carriers reported a 42 percent increase year on year with the sale of 3,022 units as compared to 2,130 vehicles sold in November 2023, the HCVs recorded the most decline of eight percent with the sale of 7,586 units as compared to 8,253 units in November 2023. 
Ashok Leyland reported a sale of 14,137 vehicles in November 2024 as compared to 14,053 units in November 2023, an increase of one percent. The commercial vehicle maker sold 12,473 units in the domestic market in the respective month as compared to the sale of 13,031 units in November 2023, a decline of four percent. 
While the passenger carriers recorded a sale of 1,304 units in November 2024 as compared to 982 units, an increase of 33 percent, the LCV segment posted a most decline at 14 percent with the sale of 4,560 units in November 2024 as compared to the sale of 5,294 units in the corresponding month last fiscal. 
Volvo Eicher Commercial Vehicles posted a 7.3 percent increase year on year in sales at 5,574 units in November 2024. The commercial vehicle manufacturer sold 5,194 units in November 2023.
The sale of Eicher brand of vehicle in November 2024 was 5,359 units whereas that of the Volvo brand was 215 units. 
Mahindra & Mahindra sold 30,085 commercial vehicles (including three-wheelers/electric CVs) in November 2024 as compared to the sale of 28,779 units in November 2023. The company was a good uptake in sales of LCVs between two and 3.5-tonne with a sale of 18,063 units in November 2024, up five percent, as compared to the sale of 17,284 vehicles in November 2023. 

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Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Daimler Truck, has reported a resilient and transformative performance in 2024,  despite a 10 percent decline in the Indian commercial vehicle market driven by macroeconomic headwinds, elections and erratic monsoons.

The company’s key performance highlights include record bus sales of 2,200 units, a 10.5 percent YoY growth and a 65.9 percent surge in bus exports. DICV’s customer service and aftermarket businesses also expanded significantly, with customer service revenue reaching INR 13 billion (up 27.8 percent) and aftermarket revenue growing 18 percent, together contributing over INR 22 billion to the company’s top line.

Satyakam Arya, MD and CEO, Daimler India Commercial Vehicles, said, “Despite numerous challenges, 2024 has been a year of resilience for us. In a time marked by geopolitical tensions and domestic elections, our entire industry faced significant tests. However, through collective strength, we have emerged stronger by focusing on what truly matters - our customers, products and people. Therefore, I am incredibly proud to share that we recorded our highest-ever bus sales, a remarkable milestone that reflects our dedication and hard work. Additionally, we expanded our aftermarket and customer service business, and took decisive actions in innovation, sustainability and transformation. Each of these achievements is the result of the strength and agility of our strategy and the exceptional team at DICV.”

Alexander Schoen, CFO, Daimler India Commercial Vehicles, said, “Despite the tough market environment in 2024, our revenue mix developed positively, driven by a 30.7 percent growth in domestic bus revenue and 58.5 percent increase in bus export revenue. With our customer service and components business collectively generating over INR 22 billion, our business fundamentals remain strong. In addition to these financial successes, we have continued to invest in advanced technologies and sustainable practices that position us for long-term, sustainable growth.”

On the sustainability front, DICV achieved 100 percent renewable power usage (Scope 2) and became the first Indian facility to meet IGBC Green Factory Building V2 standards. Operationally, the company celebrated 10 years of global supply chain contributions through its Consolidation Center, having exported over 300 million parts globally.

In 2024, DICV also expanded its BharatBenz portfolio, launching new Heavy-Duty Rigid Trucks and the TorqShift AMT tipper range, which has already made a strong impact in the mining segment.

Under its organizational transformation program, ‘The BharatBenz Way’, DICV aims to embed Total Quality Management across operations, with ambitions to win the prestigious Deming Award.

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Mumbai-headquartered electric mass mobility company GreenCell Mobility has got the Letter of Award (LoA) for supplying and deploying 472 Eicher e-buses in Madhya Pradesh under the PM E-Bus Sewa Scheme.

The company has partnered VE Commercial Vehicles (VECV) for deploying these e-buses across 6 cities in Madhya Pradesh.

GreenCell Mobility is backed by Eversource Capital, has been actively setting up charging infrastructure to support the e-bus fleet in operations in Uttar Pradesh, Gujarat and Maharashtra. These new contracts will see GreenCell Mobility expand its electric bus operations across Madhya Pradesh and Andhra Pradesh.

Devndra Chawla, MD & CEO, GreenCell Mobility, said, "GreenCell Mobility is honoured to collaborate with the governments of Andhra Pradesh and Madhya Pradesh to support the state’s transition to sustainable public transport. These projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities- while delivering a safe, reliable, and superior guest experience."

Vinod Aggarwal, MD & CEO, VE Commercial Vehicles, added, “We are delighted to take the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM E-Bus Seva Scheme. These buses are built on reliable technology and have already clocked 1.4 crore kms across India. It is a matter of pride for us that these buses will operate in the state of Madhya Pradesh which has been home to Eicher Trucks and Buses for over four decades. We thank the Government of Madhya Pradesh and GreenCell Mobility for partnering with us to introduce eco-friendly public transportation.”

The PM E-Bus Sewa Scheme is part of the Central Government's initiative to deploy 10,000 e-buses across the country and support the Government of India’s mission to electrify public transport. In FY 2024-25, CESL (Convergence Energy Services) introduced a tender for 4,588 e-buses under the PM E-Bus Sewa scheme.

Also read: EKA Mobility to deploy 750 e-buses across Andhra Pradesh

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CNH Industrial has revealed a comprehensive Strategic Business Plan (SBP) during its 2025 Investor Day, aiming to cement its leadership in agriculture and construction machinery, significantly improve margins, and return more value to shareholders.

The company’s new roadmap includes ambitious targets such as achieving a 16–17 percent mid-cycle adjusted EBIT margin in agriculture by 2030 and delivering over USD 550 million in operational and quality cost improvements. It also seeks a 25 percent increase in through-cycle industrial cash generation. It also aims to consolidate its position as the No.1 or No. 2 player in all major markets.

Gerrit Marx, CEO, CNH Industrial, said, “The strategy that we presented today shows that we have a clear path to achieve our goals. We are committed to delivering strong growth, in tandem with our cost efficiency targets. We have demonstrated our capability to deliver steady margin improvements in the past, and we will take that to the next level in this new phase of our journey.”

Key initiatives include enhancing integration between hardware and Precision Tech systems, a full refresh of the tractor lineup, an expanded combine harvester range and doubling Precision Tech’s share of agriculture net sales. CNH will also revamp its go-to-market approach with a new dual-brand dealer strategy and greater focus on customer service.

On construction, CNH targets a 7–8 percent EBIT margin by 2030 through new product launches, sourcing efficiencies, and aftermarket growth.

The plan prioritises organic growth, but leaves room for strategic M&A.

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German component company JOST Werke, a leading supplier of safety-critical systems for commercial vehicles, has further strengthened its foothold in the industry with the acquisition of Hyva for USD 398 million.

The strategic move enhances JOST’s capacity to serve India’s rapidly growing commercial vehicle market while reinforcing its position as a leading supplier for on-highway (transport) and off-highway (agriculture, construction) applications worldwide.

Hyva’s portfolio includes front-end tipping cylinders and supplies a full range of double-acting cylinders, container lifting systems (hookloaders and skiploaders), waste handling solutions (refuse collection bodies and compactors), and truck-mounted crane, whichs will further complement JOST’s comprehensive range of products for on-highway applications in the transport industry as well as off-highway applications in the agriculture and construction industries.

With this, JOST will strengthen its regional presence, particularly in Asia and the Americas, along with entering new market segments.

Pradeep Gorur Sheshagiri, Managing Director, JOST India, said, “As India’s automotive component sector evolves into a pivotal growth driver, this acquisition aligns perfectly with the nation’s focus on infrastructure modernization and sustainable mobility. Hyva’s hydraulic expertise empowers us to accelerate ‘Make in India’ ambitions, deliver tailored solutions for rugged Indian operating conditions, and strengthen collaborations with domestic OEMs. This partnership reinforces our commitment to advancing India’s commercial vehicle ecosystem with globally benchmarked technologies.”

Jeffrey Zuidgeest, Regional Director India, BU Components, Hyva, added, “The integration of JOST and Hyva’s product portfolios creates a significantly broader range of solutions, enabling us to better serve our customers and end users. Leveraging our existing sales and after-sales network, we are well-positioned to drive further growth and enhance service excellence. This strategic synergy represents a win-win situation for all stakeholders.”

The partners will also pool together R&D to further provide customer-centric solutions. In the last 70 years, JOST has grown from a small forge into a global company with over 25 locations through strategic acquisitions such as Rockinger (2001), Tridec (2008), Mercedes-Benz TrailerAxleSystems (2014), Alö (2020), Crenlo do Brasil (2023) and LH Lift (2023).

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