India - Domestic sales of medium- and heavy-duty rigid trucks fell by 15.41% to 139,486 units in FY2020 from 164,896 units in the financial year 2019-20. While this appears not to be a major fall if the registrations last year are compared with two years ago, when 280,139 units were registered, this is a halving of the market in two years. Export sales of medium and heavy-duty rigid trucks (7.5t gvw and above) declined by 6.77% from 14,260 units in the year 2019-20 to 13,295 units in the fiscal year 2020-21 and from 38,096 units registered in the same period two years ago! The total number of medium and heavy rigid trucks manufactured also decreased to 157,040 units in 2020-21 by 7.11% from 169,056 units in 2019-20 and from 325,857 units in FY 2018-19.

Sales of medium-duty rigid trucks (7.5t to 12 tons) shrank by 32.09% to 27,962 units in FY2020-21 from 41,175 units in FY2019-20. Export sales fell relatively marginally by 8.77% in FY2020-21 to register 4,627 units, down from 5,072 units. The two smallest stakeholders in this segment, Mahindra and SML Isuzu, enjoyed an increase in sales of 338.81% and 26.7% respectively.