Rigid truck sales in India during Q4/22-23 record modest increase
By RACE Innovations Pvt Ltd - 7th June 2023
India - Sales of medium and heavy rigid trucks (7.5t gvw and above) in India experienced positive growth of 5.1% in Q4 (January to March) of FY 2022-23 to register 80,587 units, up from 76,671 units in same quarter of the previous year 2021-22. Export sales of rigid trucks, however, fell sharply downwards by 74.8% to 1,758 units in Q4 of FY 2022-23 from 6,964 units in the same quarter of the previous year. Production of the rigid trucks also decreased, shrinking by 3.1% to 78,401 units in Q4 of FY 2022-23 from 80,912 units.
Sales of medium-duty rigid trucks sales (7.5t to 12 tons) fell by 10.8% to record 10,001 units in Q4 of FY 2022-23, down from 11,205 units in Q4 of FY 2021-22. Export sales shrunk by 70.5% from 2,441 to 721 units and production fell by 11.9% to 12,060 (13,667). Two OEMs dominate, Volvo-Eicher and Tata Motors, with the former taking over the latter as market leader with a jump in sales of 30.8%.
