Truck sales down 73.5% in December 2008

In keeping with the downturn in the worldwide economy, truck sales in the country declined by 73.5% in December last year – only 6,221 units were sold, as compared to 24,222 units in December 2007.

Apart from the general recession, the decline in truck sales was also due to excess capacity build-up and a significant reduction in cargo movement, according to the Indian Foundation of Transport Research and Training (IFTRT).

Sales of tractor-trailers in the 30-49 tonne range was down to 114 units in December 2008, down from 2,143 units in December 2007, while sales of tipper trucks stood at 1,462 units, down from 5,358 units, in the same period. MCV sales went down from 4,159 units in December 2007 to 1,635 units in December 2008, while LCV sales went down from 3,294 units to 1,586 units in the same period.

Various commercial vehicle manufacturers in India have resorted to temporary plant shut-downs and production cutbacks. OEMs and component suppliers expect it will take at least another six months before commercial vehicle sales get back on the fast track.