The Indonesian market for commercial vehicles over 2 tons gvw continued to decline sharply in the fourth quarter of 2023, by 29% to 34,552 units from 48,636 units a year earlier.

The commercial vehicle market over 2 tons gvw expanded by 12% to 91,830 units in the fourth quarter of 2023 boosting annual sales overall.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to deteriorate in the fourth quarter of 2023, with sales falling by more than 14%.

New energy commercial vehicles (NECVs), comprising mainly hydrogen, electric and plug-in hybrid vehicles, increased by 32% to 447,000 units.

Total haulage tractor sales increased by 38.8% in the first three quarters (April to December) of fiscal year (FY) 2023-24.

Tractor sales grow overall by 25.3% during the third quarter of FY 2023-24 compared the same quarter of the previous year (FY 2022-23).

Domestic sales of buses and coach of 7.5t gvw and above, finished the third quarter (October to December) of the fiscal year 2023-24 up by 28.8% with registrations of 10,799 units; this compares with 8,387 units in Q3 of FY 2022-23.

Sales of buses and coaches (7.5t & above) increased by 37.7% in first three quarters (April to December) of fiscal year (FY) 2023-24 to register 33,088 units compared with 24,025 units in same three quarter period of 2022-23.

Sales of medium and heavy rigid trucks (7.5t gvw and above) in India declined marginally and by 0.5% in the first nine months (April-December) of FY 2023-24.

Sales of medium and heavy rigid trucks (7.5t gvw and above) in India was stable in Q3 (October to December) of FY2023-24.

Sales of LCV goods carrier (truck) vehicles gvw ≤ 7.5t domestic stagnated in Q3 of FY 2023-24 with sales rising by just 0.6% compared with the same period of FY 2022-23.

Sales of LCV goods carrier (trucks) vehicles, gvw ≤ 7.5t, fell marginally during the first nine months (April to December) of fiscal year (FY) 2023-24 by 2.9% just under 400,000 units.