The commercial vehicle industry witnessed a decline of 1 percent in overall sales for February 2025.

A total of 79,883 units were sold last month across segments as compared to 80,954 units for the same period last year.

The country’s largest CV maker Tata Motors reported a 8 percent decline in overall sales, with SCV Cargo and Pickup segment witnessing the sharpest drop (-20 percent YoY). The ILMCV Trucks segment, however, showed growth at 11 percent.

Mahindra & Mahindra reported a 4 percent increase in total sales, driven by a 9 percent rise in LCV (2T-3.5T) and a 23 percent jump in LCV >3.5T & M&HCV. However, the LCV < 2T segment dropped 21 percent.

Ashok Leyland experienced modest growth (2 percent overall), with M&HCV Trucks (+1 percent) and LCV (+5 percent) offsetting the M&HCV Bus decline (-5 percent).

Volvo Eicher Commercial Vehicles grew 6 percent YoY, indicating steady demand.

The slight market decline was led by weaker small commercial vehicle (SCV) and passenger carrier demand, affecting Tata Motors significantly. However, medium & heavy commercial vehicle (M&HCV) trucks and LCVs in the 2T-3.5T range showed resilience, benefiting Mahindra & Mahindra and Ashok Leyland.

While challenges remain in certain segments, sustained growth in the LCV and HCV categories suggests stable demand in core logistics and transportation sectors.

Representational image: IEA

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Energy in Motion Ltd has opened an electric heavy commercial vehicle complex in Talegaon, Pune, as part of a planned INR 10 billion investment in Maharashtra, with the first phase representing an investment of INR 5 billion.

The facility, located in Ambi village, brings together an electric heavy commercial vehicle assembly plant, a lithium-ion battery pack assembly factory and an independent battery testing laboratory. The company said the integrated complex has an initial capacity of 5,000 vehicles per shift per year.

The complex was inaugurated on 14 October by Devendra Fadnavis, Maharashtra’s Chief Minister, in the presence of Sharadchandra Pawar, a Rajya Sabha member, and Sunetra Ajit Pawar, the state’s Deputy Chief Minister.

Developed in just over a year after the signing of a memorandum of understanding, the Industry 4.0-enabled facility is expected to create more than 2,000 direct and indirect jobs, as well as opportunities in design, research and development, and information technology.

Energy in Motion is also developing a network of battery-swapping and charging stations along major highways, at ports and in industrial complexes. The company said its megawatt-scale hubs would be able to swap batteries in compatible vehicles in less than seven minutes and provide fast charging for vehicles equipped with the specified DC charging connector.

The company has technology partnerships with BAIC Foton Motor for electric heavy vehicles, Contemporary Amperex Technology Co (CATL) for batteries, and Shanghai Enneagon Energy Technology for robotic battery-swapping systems.

Narendra Murkumbi, Managing Director of Energy in Motion, said the facility had been built with support from the Maharashtra government, technology partners and project hosts RMK Spaces. He also credited the company’s manufacturing team, led by Mahesh Keskar.

Murkumbi said the company’s next priority was to develop a nationwide network of megawatt-scale charging and battery-swapping stations to support the shift from diesel to electric heavy goods transport.

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Volvo Buses India, a division of VE Commercial Vehicles, has secured an order for 200 Volvo 9600 coaches from the Maharashtra State Road Transport Corporation (MSRTC). The contract marks the single largest order received by Volvo Buses in India.

The order comprises 170 seating coaches and 30 sleeper coaches, intended to support intercity and interstate routes across the public transportation network in Maharashtra. The seating variant features a 51-seat layout equipped with calf support, while the sleeper variant provides berth arrangements for long-distance overnight travel. Manufactured at Volvo Buses India's facility in Hoskote, Karnataka, the 9600 series coaches integrate vehicle safety platforms, chassis engineering and passenger seating configurations for state transport operations.

Suresh Chettiar, Executive Vice-President of the Bus Division, VE Commercial Vehicles, said, "We sincerely thank the Transport Minister of Maharashtra, Pratap Sarnaik and Dr. Madhav Kusekar, IAS, Managing Director and Vice Chairman, MSRTC, for their continuing trust in Volvo buses. This landmark order reflects our shared commitment to elevating travel and making premium passenger experiences more accessible for the citizens of Maharashtra. We are proud to continue to partner with MSRTC to enhance the state’s public transportation network."

The fleet addition forms part of MSRTC's modernisation plan to upgrade intercity bus services and expand premium transit options across state-operated routes.

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Eicher Trucks & Buses, a division of VE Commercial Vehicles, has introduced Uptime NXT Services supported by an AI-enabled (artificial intelligence) Uptime Centre. The initiative expands the company's aftermarket service ecosystem through connected vehicle data, predictive analytics and service support infrastructure to manage fleet operations.

The Uptime Centre functions as an operational hub connecting transport operators, technicians and engineering teams. Services delivered through the platform include fuel management advisory, driver performance scorecards, vehicle operation insights, remote immobiliser controls and proactive maintenance alerts.

The system integrates with the My Eicher application, which currently connects over 460,000 commercial vehicles across 200,000 fleet accounts to provide real-time vehicle tracking, trip tracking and maintenance monitoring.

B. Srinivas, MD and CEO, VE Commercial Vehicles, said, "For our customers, uptime directly impacts productivity, profitability and business continuity. At Eicher, our vision has therefore been to create an ecosystem that helps keep vehicles operating at their best - everyday. By bringing together connected technology, predictive insights, a responsive service network and strong aftermarket support, we are moving towards a more proactive approach to uptime — one that anticipates customer needs, minimises disruptions and enables customers to run their businesses with greater confidence and predictability. Our ambition is to make uptime a defining part of the Eicher ownership experience."

S S Gill, Chief Commercial Officer, VE Commercial Vehicles, said, "The new Uptime Centre brings together the people, technology and intelligence needed to manage uptime more proactively and at scale. The Uptime Control Tower gives our teams greater visibility across vehicle and service operations, while our Gen AI-powered platform bring actionable intelligence closer to our service teams and technicians. This enables faster diagnosis, better coordination and stronger First-Time-Right performance, helping us reduce disruptions and deliver a more seamless service experience for our customers."

The company first established a centralised Uptime Centre in 2019. The upgraded Uptime NXT architecture introduces an Uptime Control Tower for real-time monitoring of service operations and deploys generative artificial intelligence tools, designated as the Service One platform, to assist dealership technicians with fault diagnostics and repair procedures.

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Chennai-headquartered commercial vehicle major Ashok Leyland, the flagship company of the Hinduja Group, has signed a Memorandum of Understanding with Union Bank of India to establish a vehicle financing agreement for purchasers of its commercial vehicles.

The agreement was signed by Neelakantan, Vice-President of Finance at Ashok Leyland and Alok Kumar, General Manager and Zonal Head at Union Bank of India, in the presence of D S Madhusudhan, Head of Sales Finance and Kapil Pandya, Head of Retail and Inventory Finance for Light Commercial Vehicles at Ashok Leyland.

As per the arrangement, Union Bank of India will provide end-to-end vehicle loans with structured repayment schedules across Ashok Leyland's line-up of trucks and buses.

K M Balaji, Whole-Time Director and CFO, Ashok Leyland, said, "Ashok Leyland is delighted to partner with Union Bank of India (UBI) to offer attractive and accessible financing solutions to our customers. This strategic partnership leveraging on UBI Network will further strengthen our market presence by enhancing access to our innovative range of commercial vehicles for businesses across the country. Built on advanced technology and engineered to deliver industry-leading total cost of ownership, our products are designed to drive greater efficiency, productivity and profitability for our customers."

Madhavi Deshmukh, Senior Vice-President and National Sales Head for Medium and Heavy Commercial Vehicles, Ashok Leyland, said, "At Ashok Leyland, we are committed to enabling our customers' growth through innovative products and seamless ownership experience. Our partnership with Union Bank of India (UBI) is a significant step towards making our industry-leading commercial vehicles more accessible with attractive and convenient financing solutions. Together, we aim to empower fleet operators and businesses with greater financial flexibility, while delivering superior value through our technologically advanced products and best-in-class total cost of ownership."

Alok Kumar, General Manager and Zonal Head, Union Bank of India, said, "Union Bank of India is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This collaboration underscores our commitment to enabling businesses with accessible and tailored financial solutions that simplify commercial vehicle ownership and facilitate sustainable growth. By enhancing access to convenient and customer-centric financing solutions, we aim to make vehicle ownership more seamless and accessible, while empowering our customers to strengthen their businesses and pursue new growth opportunities."

The partnership utilises Union Bank of India's national branch network to improve credit flow for transport operators, fleet owners and commercial enterprises acquiring vehicles ranging from light commercial models to heavy-duty trucks and passenger buses.

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