Indian Heavy Duty Trucks: A Contrast in Sales and Capacity

CHENNAI: The Indian heavy duty truck market presents a paradox. While sales volumes have not yet rebounded to their 2018 peak, the industry is witnessing an unexpected rise in payload capacity. Vinod Aggarwal, MD & CEO of VE Commercial Vehicles, highlights this trend, noting a 12% drop in sales from 295,000 units in 2018-19 to 258,000 units last year. Yet, the shift towards higher payload trucks has propelled the overall capacity from 9.7 million tonnes to 10 million tonnes.

Current Market Trends

The first nine months of the current financial year have seen a relatively flat negative trend in truck sales. The 3.5 tonne plus category has decreased by 2.1%, the sub-5 tonne category by about 1.5%, and the overall market by approximately 2%. Specifically, heavy duty trucks have seen a 7.4% decline, while light and medium commercial vehicles have dropped by 5.5%. However, the industry finds solace in the 18% increase in bus sales and a 6% rise in exports during the same period.

Innovation in the Commercial Vehicle Sector

VECV's recent launch of the Eicher Pro X Range, an electric-first modular platform for small commercial vehicles (SCVs), marks a significant step towards innovation. Targeting the last mile segment for e-commerce, FMCG, and cold chain logistics within the 2-3 tonne to 5 tonne segment, this range offers both EV and diesel options, highlighting the export potential for both fuel types.