Truck

Indian Used Truck Market Data

ACG released Indian Used Truck Market data, which provides key insights into this market. The Indian Used Truck Market registered a 4.14 percent CAGR between FY 2019 and FY 2025. It is expected that the Indian used Truck market will grow by 5.52 percent from FY2025 to FY2030.

Indian Used Truck Market Data is also available in the form of a report.

The demand, Price, Truck life cycle, Truck Age, and Brand name are major influencers of the Used Truck market. The Exclusive Application-wise Truck Data is available with us.

Used Truck Life Cycle:

The Indian Used Trucks between 3 and 11 years old are dominating the Indian Used truck market. The first and Second lives of used trucks are in demand.

Typically, there are three life cycles of used trucks in India:

First life,
Second life, and
Third life

Large Fleet owners typically sell their entire Tipper fleet most after the First or second life. The reason is that there is a high demand for Tipper in applications such as mining and Ports.

If fleet owners can maintain accurate vehicle histories, including details such as accidents, repairs, and Spare parts status, then the used truck market will grow faster than expected.

Used Trucks are an attractive option for those who want to start their entrepreneurial journey in Goods transportation.

Market Segmentation:

This industry is still lagging in terms of business organization. Digital platforms have not yet achieved the same level of success as they have in other vehicle segments. Shriram Automall is the leading marketplace for Used Trucks in India. Tata OK and Eicher Sure are known brands in the Used Truck market. The Ashok Leyland (Re-AL) is still in the phase of establishing its brand name in the Used Truck market.

Some of the major Financiers of Used Trucks are

HDFCB
ICICIBC
AXISB

The unorganized sector remains significant due to its product and market dynamics.

Post-COVID, the price of used Trucks increased due to the increased cost of new Trucks in India. The growth has been noted since the COVID-19 pandemic. The market began to recover, which had a positive impact on increasing demand for transportation goods.

Business Model:

The physical Auction, OEM certificate, pre-owned trucks, and through a Local broker are effective Business Models. Every Business Model has their Pros and Cons. Leasing Business is also an attractive option, as it is well-established in Europe. However, this segment has a high business potential.

Used Truck Trend:

TCO is one of the primary factors that influence the decision to buy a truck. Fuel costs, upfront costs, and EMI are major contributors to total cost of ownership (TCO) calculations. Used trucks provide favourable TCO.

E-commerce, Last-Mile delivery, Infrastructure development, and growing middle-class demand are some of the significant demand factors in the used Truck market.