Rigid truck market slides 8% in first half of fiscal year 2024/25
By RACE Innovations Pvt Ltd - 2nd December 2024
India - In the first half of FY2024/25, the Indian market for medium and heavy rigid trucks (7.5t GVW and above) experienced an 8% decline in sales, dropping to 108,018 units from 117,351 units in the same period of FY2023. Production of rigid trucks also saw a downturn, decreasing by 6.5% to 120,491 units from 128,839 units year-over-year. Contrary to domestic trends, exports of rigid trucks surged by 46.6%, reaching 5,016 units compared with 3,421 units in the first half of the previous year.
Sales of medium-duty rigid trucks (7.5 to 12 tons GVW) increased by 6.1% to 18,887 units, up from 17,801 units in the first half of FY 2023. Exports increased by 43.3%, and production rose by 6.6%.
