High demand for light-duty buses in India results in sales more than doubling in FY2022-23
By RACE Innovations Pvt Ltd - 12th June 2023
India - Sales of light-duty passenger vehicles (7.5 tons and below) enjoyed a resurgence in the FY2022-23 ending March 31, 2023, increasing by 122.1% to 44,315 buses and coaches, up from 19,957 the year before. Export sales of minibuses and small buses remained flat with growth of 0.8%, while production soared on the back of domestic demand by 104.7% to 45,011 (21,984).
In the minibus segment with seats more than 13 seats (GVW ≤ 5 tons no. of seats including the driver > 13) sales increased by 134.5% to 16,280 units in the FY 2022-23, up from 6,942 units in FY 2021-22. Export sales fell 27.4% and production increased by 54.5% to 13,214. While Tata Motors and Force Motors enjoy a dominant duopoly in this segment, Mahindra & Mahindra recorded a spectacular increase in sales of 763.5% to register 743 vehicles, up from just 85 last year.
