Market share of trucks sales India 2021, by manufacturer

In fiscal year 2021, the truck sales market across India was dominated by Tata Motors, with a share of about 51 percent. The domestic commercial vehicle industry in India sold over a million units for the first time in fiscal year 2019. However, due to the impact of the coronavirus, sharp decreases occured during financial year 2020 and 2021.

Heavy trucks

In 2019, there were over 26 million registered multi-axle vehicles across the nation. A lot of freight movement is carried out through road transport within the country. Over two trillion metric tons of freight was transported through roads in 2016. Trends in the freight demand also affect the heavy truck industry. An estimated lubricant volume of 280 million liters was used in new trucks production in 2018 and over 124 thousand heavy trucks were produced in 2020.

Future outlook

Market contraction in the automotive sector has affected the heavy truck industry as well. The trucks used for the bulk transport of cars lay idle and the sales of medium and heavy-duty trucks declined by almost 20 percent in 2019. Tight liquidity conditions have affected the lending of trucks. The implementation of the sixth stage emission norms in April 2020 might also affect the vehicle prices. However, adapted vehicle technologies can boost sales in the post-implementation stage.