The demand for buses largely remained robust in 2023, driven by the increasing need for public mobility and replacement.
Ashok Leyland Limited (ALL) recorded a 64 per cent year-on-year increase in sales of medium and heavy commercial vehicle (MHCV) buses during the April-to-December period of 2023 to 11,216 units.
Volvo Eicher Commercial Vehicles (VECV) posted 24.7 per cent sales growth between April and December for light and medium-duty buses, and 36.9 per cent growth for heavy-duty buses.
Volumes are expected to remain subdued in the fourth quarter on a YoY basis, driven by the pause in infrastructure activities as the model code of conduct kicks in before the Lok Sabha elections.
Tata Motors Sales: Passenger Vehicles (PV) sales, including electric vehicles, in the domestic market stood at 43,470 units last month as against 40,043 units in December 2022, up 9%, the company said.
India Auto Sales: Sales of cars, sedans, and utility vehicles in India reached a record four million units in 2023, marking an 8.2% increase from the previous year. The industry saw a 4.4% growth in dispatching 287,904 units from factories to dealerships, the highest-ever reported for December. Retail sales were also higher at 442,800 units, bringing down stocks in the industry.