Massive sales hike for Indian bus and coach in Q4 of 2022-23
By RACE Innovations Pvt Ltd - 9th June 2023
India – Domestic sales of buses (7.5t gvw and above) in India increased by 174.5% in the fourth quarter (Q4) of the financial year (FY) 2022-23 to register 14,721 units compared with just 5,362 units in Q4 of FY 2021-22. Total bus production increased in the last quarter of FY 2022-23 too with growth of 168.1% to 15,716 (5,862). Total exports increased by 16.4% in Q4 of FY 2022-23 registering 3,317 units, up from 2,695 units in Q4 FY 2021-22.
Turning to the individual segments, by far the largest segment is the medium-duty bus segment (ICV: 7.5 tonnes - 12 tonnes). It outgrew the overall segment, with sales up by 170.4% from 3,114 units in Q4 of FY 2021-22 to 8,419 units in the final qaurter. Production of ICV range buses increased by 180.8% to register 9,279 units compared with 3,305 units, while exports fell by 2.5%.
