India’s light-duty bus sales rise by 16.8% to over 50,000 units in FY2023-24
By RACE Innovations Pvt Ltd - 24th June 2024
India - Sales of light-duty passenger vehicles (7.5 tons and below) increased by 16.8% to 51,750 units in FY 2023 (ending March 31, 2024) from 44,315 units in the FY 2022. Production increased by 62.7% to 73,229 units from 45,011 units with export sales up by 101.8% at 3,631 (1,799). Export sales doubled by 101.8% from 1,799 to 3,631 units.
In the minibus segment with seats more than 13 seats (GVW ≤ 5 tons no.of seats including the driver > 13) sales decreased by 6.7% to 15,195 units in the FY 2023 from 16,280 units in FY 2022. Exports more than doubled by 215% to 526 (167) and production increased by 36.2% to 17,991 (13,214). Force Motors dominated this segment in FY2023 with a market share of 75% and an increase in sales over the previous year of 56%.
