Rigid truck registrations in India fall by 10.4% in Q1 of 2023-24
By RACE Innovations Pvt Ltd - 14th September 2023
India - Sales of medium and heavy-duty rigid trucks (7.5t gvw and above) in India experienced a contraction of 10.4% in Q1 (April-June) of FY2023-24 to register 52,356 units, down from 58,443 units in same quarter of the year 2022-23. Exports of rigid trucks were also down down heavily from the same quarter the year before by 62.4% at 1,371 units compared with 3,646 units. Production of the rigid trucks decreased by 11% to 62,135 units in Q1/FY 2023-24 compared with 69,832 units in the Q1 of the previous year.
Sales of medium-duty rigid trucks sales (7.5t to 12 tons) fell by 8.9% to register 7,543 units in Q1/FY2023-24 from 8,284 units in Q1/FY2022-23. Exports shrank by 47.2% to below 500 units, while output also slowed, down by 5.5% at 11,164.
