Medium-heavy rigids demand up 24%, heavy truck sales dip and the market overall stays the same in the first threequarters of FY2023-24
By RACE Innovations Pvt Ltd - 13th March 2024
India - Sales of medium and heavy rigid trucks (7.5t gvw and above) in India declined marginally and by 0.5% in the first nine months (April-December) of FY 2023-24 to 180,986 units from 181,934 units in same period of the year 2022-23. Exports of rigid trucks declined by 39.3% to 5,630 units in the first three-quarters of FY 2023-24 from 9,274 units in the same period of the previous fiscal year. Production of the rigid trucks fell by 0.3% to 198,141 units from 198,820 units in the same three-quarter year period of 2022-23.
Sales of medium-duty rigid trucks (7.5t to 12 tons) increased 7.7% to 27,255 units in the first three-quarters of FY 2023-24 from 25,297 units in the same period of FY 2022-23. Production increased by 11.7% to 35,652 units, but export sales fell by 17.9%.
