India’s LCV bus sales double in Q4/22-23
By RACE Innovations Pvt Ltd - 6th June 2023
India – Good news continued for the light-duty bus sector in the fourth quarter of India’s fiscal year ending March 31, 2023, with sales more than doubling in the period compared with the same period (January to March) in 2022: Sales of light duty vehicles (7.5t & below) surged by 102.2% to register 14,037 units in Q4 of FY 2022-23 from 6,942 units in Q4 of FY2021-22. Production increased by a good quantity too, up by 78.2% from 7,564 units to 13,477 units, while exports suffered at the high domestic demand with export sales down by 42.1% from 534 units to 309 units.
In the minibus segment with seats more than 13 seats (GVW ≤ 5 tons no. of seats including the driver exceeding 13) sales rose by 305% to register 5,722 units in Q4 of FY 2022-23 from 1,413 units in Q4 of FY 2021-22. Production increased by 47.7% to 3,942 (2.669) and export sales. fell by 40.4%. The segment is still dominated by Force Motors.
