Domestic sales of buses and coaches (7.5t gvw and above) increased by 130.5% in Q3 (October to December) of the financial year 2022-23 (Q3/FY22-23) to register 8,331 units, up from 3,615 units in Q3 of FY 2021-22.

The heavy haulage tractor sector saw sales more than double during April to December of 2022-23 to register 35,334 units compared with 15,794 units in the same period of the previous year (2021-22).

Tractor production increased by 101.1% overall from 6,822 units to 13,717 units, but export sales declined by 50%.

Sales of buses and coaches (7.5t & above) in the first nine months of fiscal year 2022-23 (April to December) rallied gaining 267.7% to register 23,689 units compared with just 6,442 units in the three-quarter year period of FY2021-22.

Sales of light duty buses (7.5t & below) more than doubled by 129.1% to register 8,093 units in Q3 of FY 2022-23, up from 3,532 units in Q3 of FY2021-22.

Sales of light-duty bus sales (7.5t & below) rose by 132.6% to 30,278 units in the threequarter fiscal year (April to December) of 2022-23 from 13,015 units in the same period of 2021.

Sales of LCV goods carrier (truck) vehicles (gvw ≤ 7.5t) increased by 34.1% to 412,019 units in the first three quarters (April-December) of 2022-23 from 307,142 units in same period of 2021-22.

Sales of medium and heavy rigid trucks (7.5t gvw and above) in India improved by 19.2% in the third quarter (October to December) of FY2022-23 (Q3/22-23) to register 63,713 units, up from 53,439 units in same quarter of fiscal year 2021-22.

Sales of LCV goods carrier (truck) vehicles (gvw ≤ 7.5t) in India rose by a modest 4.8% in Q3 of FY 2022-23 to 133,340 units from 127,213 units in same period of FY 2021-23.

Truck and tractor sales above 15t gvw and gcvw account for a sizeable percentage share of the market at more than 77% of the truck sector overall.

Argentina's CV market remained stable despite continued inflation and devaluation of the peso.

For a relatively small market of 17,729 commercial vehicles sold in 2022, there are a large number of brands selling into the market place.