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Light (up to 6t)

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LCV truck demand in India slows in Q4 of FY2023/24

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By RACE Innovations Pvt Ltd - 17th June 2024

India - Sales of LCV goods carrier (truck) vehicles (GVW ≤ 7.5t) decreased by 2.8% to 142,946 units in Q4 of FY 2023 (ending March 31, 2024) from 147,131 units in the same period of FY 2022. Production of LCV goods carriers stagnated falling by 0.1% and exports shrunk too by 28.2%.

The lightest segment (GVW ≤ 2t) saw domestic sales rise by 0.8% to 48,617 units in Q4 of FY2023 from 48,221 units in Q4 of FY2022. Production decreased by 12.4% while export sales fell down by 43.5%.

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