Rigid truck demand in India remains flat in first half of FY2023-24
By RACE Innovations Pvt Ltd - 18th December 2023
India - Sales of medium and heavy-duty rigid trucks (7.5t gvw and above) in India decreased by just 0.7% in the first half of FY2023-24 (April to September, 1H) to register 117,351 units from 118,221 units in same period of the previous year 2022-23. Export of rigid trucks fell by 52.5% to 3,421 units in first half of FY 2023-24 from 7,200 units in the same period of the previous year. Production of the rigid trucks decreased by 2.5% to 128,839 units in first half of FY 2023-24 from 132,183 units in the first half of the previous year.
Sales of medium-duty rigid trucks sales (7.5t to 12 tons) edged up 2.9% to register 17,801 units in first half of FY 2023-24 from 17,293 units in first half of FY 2022-23. Exports fell by 39.2% and production increased by 2%.
