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LCV bus demand trending upwards in FY2023-24 with total sales exceeding 51,000 units

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By RACE Innovations Pvt Ltd - 11th March 2024

India - Sales of light-duty buses (7.5t & below) increased by 20.3% to 36,417 units in the first three quarter period (April December) of fiscal year (FY) 2023-24, from 30,278 units in same period of FY 2022-23. Production increased by 64.3% to more than 51,000 units, and exports rose by 45.8% to 2,172 units.

In the minibus segment with seats of more than 13 seats (GVW ≤ 5 tons no. of seats including the driver exceeding 13) sales increased by 3.1% to 10,886 units from 10,558 units; exports rose up by 7.5%, while production also soared by 38.1% to 12,800 (9,272).

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