Bus and coach sales in India records major growth of 39% in Q4 of 2023/24
By RACE Innovations Pvt Ltd - 19th June 2024
India – Domestic sales of buses and coach (7.5t gvw and above) increased by 39.6% in Q4 of the financial year 2023 (ending March 31, 2024) to register 20,048 units compared with 14,363 units in Q4 (January to March) of FY 2022. Total bus production increased in the last quarter of FY 2023 with an increased output of 17.6% from 15,414 to 18,128 units. Total exports decreased by 25.9% in Q4 of FY 2023 to 2,323 units from 3,137 units in Q4 FY 2022.
Turning to the individual segments, sales of medium-duty buses (ICV: 7.5 tonnes - 12 tonnes) increased by 23.4% from 8,419 units in the fourth quarter of FY 2022 to 10,389 units in same quarter for FY 2023. Production of ICV range buses increased by 9% to 10,113 units in Q4 FY 2023 from 9,279 units, while exports decreased by 41.5% from 1,114 to 652 units.
