LCV bus demand increased across all segments in Q3 of fiscal year 2023-24
By RACE Innovations Pvt Ltd - 11th March 2024
India - Sales of light-duty passenger transportation vehicles (7.5t & below) in quarter three (Q3:October to December) of fiscal year (FY) 2023-24 increased by 9.2% to register 8,837 units when compared with the 8,093 units sold in the same period in FY2022-23. Production increased by 24.4% from 9,237 units to 14,810 units, while exports grew by 52.4% from 588 units to 896 units.
In the minibus segment with seats more than 13 seats (GVW ≤ 5 tons no. of seats including the driver exceeding 13) experienced a domestic sale degrowth with 23.2% to register 2,801 units in Q3 of FY 2023-24 from 3,647 units in Q3 of FY 2022-23. Production increased by 67.4% to more than 4,000 units and export sales ground almost to a halt.
