Tag Archives: India commercial vehicle market analysis pdf

This report Importance of small commercial vehicles in last-mile delivery focus on the opportunities the last mile delivery could provide, and common challenges India faces for the same. The current and most popular topic among retailers is last-mile logistics. This is classified into three major sectors, viz. E-commerce, Retail, and bulk goods delivery. These three are considered the prime influencers of last-mile delivery. We mapped these three sectors to the available trucks like Mini, pickup, Three Wheeler, and other electric vehicles.

Additionally, this report will reveal the key parameters that Autobei Consulting Group utilizes to analyze value propositions and why manufacturers, Suppliers, and other logistic companies seek ACG to find the analytics, right marketing strategy, and segment analysis. This segmented analysis of Small commercial vehicles will reveal why there’s a greater possibility for automotive’s financial growth in India.

The E-commerce business is yet functioning on the conventional model of a communication system. Thus, arise the cause for one common communication platform between a customer and fleet operator. We carried out a survey on this and it’s been perceived that 80% of the fleet operators are up for it – to use an application for daily business purposes. One of the reasons why this hasn’t been in practice is ’cause fleet utilization is less than 30%.

Indian Commercial vehicle market Analysis and Forecast 2024

Small or light commercial vehicles are considered to be the largest segment in the automotive industry that encompass commercial vehicles. To be precise, SCV contributes 73% of the total Commercial vehicle sales in FY2019. The compound annual growth rate is computed as a 10% increase from FY2015 to FY2019 and is further expected to raise the CAGR by 8% in the next five years. The market size of the small commercial vehicle segment accounts for USD 3.5 billion in FY2015 and USD around USD 5.2 Billion in FY2019.

Similarly, Small commercial vehicle’s cargo segment’s share has been increased from 47% to 52% while on the other hand, the passenger segment’s share got dropped from 53% to 48% during the period FY2015 and FY2019. Thus, at the end of the year, Cargo is reckoned as the biggest segment that accounted for around 50% of the total market sales in FY2019.

Bajaj Auto, Mahindra, Tata Motors, and Piaggio are the top players in the SCV segment.

SCV segment Share FY 2019

Considering all aspects of logistic vehicles, we’ve drawn the conclusion that three-wheeler goods vehicles will be the best choice for the retail business. The goods transport charge shall begin from 100 – 200 rupees and since the maintenance cost is low for three-wheelers, this has grabbed the attention of consumers in the retail business. It’s believed that these will rule the retail business for its highly feasible for small loads and have got better mileage and a reasonable yet affordable price. One major advantage of utilizing three-wheelers for last-mile delivery is that most of the drivers are owners of their vehicles. This affirms the success of last-mile delivery. On average, it’s observed that a three-wheeler load vehicle would run an average of 50 kilometers and thus tentatively monthly revenue would account for 15,000 to 20,000 rupees. Currently, the 3W cargo is having just 30% of fleet utilization as per our study.

SCV passenger and SCV Cargo segment share trend

Besides, four-wheeler load vehicles are highly suitable for bulk transportation in its category and long-distance transportation of goods. The average daily distance of four-wheelers in the last mile delivery is around 100 kilometers. The owner of the vehicles would mostly be those who run small businesses. In the last three years, Maruti Super carry raised its share by 10% with just a single vehicle and has tied up mostly small-scale business dealers. It’s expected that Maruti Super carry will acquire a 14% market share anytime soon.

Initially, Maruti offered a 12-inch tire in Super carry. But, this hadn’t pleased the mini truck consumers and eventually, they were destined to replace them every so often. The company identified the issues and began to offer a 13-inch tire.

Maruti Suzuki Super carry Product strategy

The appropriate competitor of super carry would be Tata ACE. These vehicles have satisfactory consumers and people prefer them for the driving comfort it proffers.

SCV 4W cargo Last mile delivery Product position

Well, the market dynamics and product availability played a significant role in grabbing a larger portion of segment shares. The large pickups say 2 -3.5T of small commercial vehicle’s cargo segment has managed to grab 54% of the total SCV’s segment shares. On the other hand, passenger vehicles of the SCV segment are reckoned as the highly regulated segment and three-wheelers are reckoned as their tough competitors.

Pickup and Mini Truck segment share

Tata Motors preside over the market in the sub 2T truck category and the SCV Passenger segment as well and the wonders will never cease; Maruti is leading the industry and has pushed the Tata and Mahindra back. Maruti super carry has managed to attract the consumers in India.

Indian Mini Truck Segment Analysis

Indian consumers are mainly opting the mini truck for the overall super carry’s performance is considered as the prime value proposition. To analyze the value proposition in-depth like Price, Discount, Payload, Maintenance cost, number of trips, After Sales Support and others, ACG makes use of a variety of key parameters. The new launch Tata Intra, and DOST performance together inhibit the growth of other light commercial vehicles especially the Mahindra cargo segment (2-3.5T category). However, Tata Intra, fortunately, has managed to attract the Bolero Maxi Truck customers and Ashok Leyland Dost customers (in 2-3.5T category).

Pickup Truck OEM Market share

Tata motors have lost 17% of their market share in the past 5 years, whereas Mahindra gained 11% of its share. No matter what, Mahindra Bolero is the first choice of consumers in the pickup segment. Nevertheless, it has lost 9% of its market share from FY2015 to FY2019 due to the other brands, viz DOST, Intra, and Isuzu and it seem that Tata is aggressively trying to grab its market share from Mahindra Bolero.

Autobei Consulting group primarily helps the manufacturers and Suppliers to carry out the market assessment, rural sales analysis, macroeconomic analysis and indeed we make detailed Segment analysis.

Report Highlights:

  • Small Commercial Vehicle Market Size (In Volume & Value), Trend and Forecast 2024
  • Last-mile delivery market analysis
  • Passenger and Goods vehicle Market Analysis
  • Fleet operators types, Business, Challenges, and Opportunities
  • Technology (IoT, Delivery App) Analysis and its acceptance
  • Application of the vehicle
  • Key Models and Price, Sales, Features, and Specs
  • Type of customer in SCV segment
  • Fleet owners Survey
  • Purchase Pattern Analysis
  • Product Portfolio, Product position, and Brand Strategy
  • After Sales Analysis – Model wise maintenance cost
  • Electric Vehicle penetration analysis in SCV segment

The future trend of the Indian Commercial Vehicle market is the most detail report. The current Indian Commercial Vehicle market size is over 1 million units and in terms of value, it is USD 14 billion in FY 2019. Tata and Ashok Leyland are the current market leaders in the commercial vehicle segment.

The commercial vehicle segment has registered an 8 percent CAGR between the years of 2012 and the year 2015. The commercial vehicle segment was able to register a growth rate of 8 to 12 percent between the years 2012 to 2015.

Between the years 2013 to 2015 the CAGR for the SCV segment was -8 percent. In the following years, the CAGR jumped to 18 percent between the years 2015 to 2019. In the HCV segment, the CAGR came down to 7 percent from 30 percent between the years 2015 to 2019.

Indian CV Industry Growth by segment and Outlook 2024

In the SCV segment, Ashok Leyland and Maruti Suzuki gained a better market share. The major players like Tata Motors, Mahindra, Force, and Piaggio lost their market share for the year 2019 when compared to the year 2015.

In the LCV segment, Ashok Leyland, Mahindra, and Eicher gained a better market share. In the MCV segment, Ashok Leyland is the only OEM who gained 7 percent market share due to its product portfolio and service options. In the HCV segment, Ashok Leyland and Mahindra increased market share by 5 and 2 percent respectively in the year 2019.

Indian CV OEMs Market Share 2019

The industry has started to face new challenges and hurdles with the innovation of new technology, emission norms, market sentiments between the customers, Cost pressure on the customers, expected the rise in oil prices, tight financing. Infrastructure development and border-free movements are positive changes in the industry.

Indian Truck Industry Trend and Forecast:

Indian Truck Industry registered 25 percent growth in FY 2019 compared to FY 2018. The industry is facing new trends due to changing market dynamics. The Tractor Trailer market and Heavy Duty segment also started to move in a different direction. Tractor Trailer segment noted 15 percent degrowth due to heavy-duty customers move to the Rigid Truck segment. Tata, Ashok Leyland, and Eicher are the market leader in some segment.

Indian Truck Industry Market Trend and Outlook

The mainly market can be defined among Low, Value plus, and the premium truck segment.

Value plus Low cost and Premium Truck segment

In this report, we will cover and analyze the details from the commercial vehicle market and the needs and requirements for customer satisfaction.

Commercial Vehicle Industry Landscape:

The fleet owners or transporters are the key stakeholders of the commercial vehicle industry. There are five main components for the fleet owners which will include vehicle, financing, product support, vehicle Body and other value-added services provided by the companies. By selecting the best combination of the CV package they try and invent methods to increase their profit level and make maximum utilization of their fleet capacity. Good profit level can be attained precisely through the (best suitable for application) vehicle purchase price, choosing the most appropriate truck which will suit the required application.

The CV customers are mainly divided based on the vehicle application, type of vehicles, and fleet size. Based on the fleet size this segment can be further divided into a single fleet owner, small fleet owner, medium fleet owner, large fleet owner and corporate or very large fleet owner. The key challenges for the transporters are improving their profit level, shortage of drivers, Loading and Unloading mechanism, after-sales, and better fleet Utilization.

Currently, freight transport in India is mainly dominated by road transport. The transportation through road medium accounts for 59 percent of freight movement. 35 percent of freight demand is met by rail transport, 5 percent freight movement is maintained through waterways and less than 1 percent of freight transport is by air transport.

Transportation Structure in India

Fleet Owner Business Model (Small, Medium, and Large)

Small and Medium Fleet owner business model:

The small and medium fleet owners face many critical issues. Their profit is also less when compared to other segments. The small and medium fleets most of the revenue is used to cover the operating cost of the vehicle like paying EMI, driver salary, tax, maintenance cost, brokerage fees, tyre replacement cost which is one of the major issues which comes under maintenance section. The profit during the time of paying EMI is very small. For long Haul, fuel cost is around 60%. Once the loan amount is fully paid, they start to make some profit. Another way to make money is by selling the vehicle at market value after a certain period of usage.

Small, Medium and Large Fleet owner business Model

The Small and Medium fleet owners are struggling to make a good profit because there is strong pressure on the trucking firms to provide low costs service. To win business in those hyper-competitive markets, truck operators commonly resort to illegal tactics such as overloading and driving more hours per day than permitted under hours of service regulations. The scenario is worst in the case of the tipper which is used for coal transport purposes.

Transporters Profitability Analysis

Axle load norms Impact:

After the amendment of axle load norms, Transporters are making more profit after consideration of the extra burden of Mileage and another impact on vehicles like maintenance and Tyre life. Clients of Transporters Started to demand to lower the freight rates since the permissible payload increased. On the other hand Fleet owners started to demand to Increase freight rates. They are considering the extra maintenance cost, Tyre cost, fuel consumption, etc.

Maximize the profit:

Trucking costs are the key factors in the transportation component of total logistics cost accounting which will account for more than 65 percent of that cost. To reduce these costs a three-pronged strategy can be adopted:

  1. Maximum Utilization of Truck capacity
  2. Increasing fuel economy of trucks
  3. Lowering the total fixed costs

Medium size Transporters can increase their profit margin by proper tracking of the vehicle, improved product portfolio, and strictly controlling operating costs.

For example, in the Cement and Ash transportation sector, the average used truck (Consider the most suitable model) price after 5 years is around 30 to 35 percent lower than the actual vehicle price. This 30 to 35 percent will be the transporter’s profit after 5 years of usage.

For large Transporters, their profit is better than Small and medium fleet owners. Large fleet owners are having better profit because they have their own workshop, spare parts inventory, direct contact with consigner and they will be having their own diesel pump. This will make significant efforts in cost reduction. Own workshop could save 20 to 30 percent cost.

Fleet Owner Business Profile:

Fleet Owner Business Profile

Demand Forecast:

We have noticed major changes in the market dynamics in the last 6 months. ACG does the market forecast in every quarter. Some of the Application wise Truck Market Forecast is listed below:

Application wise Truck Demand Forecast Analysis

Customer complete Purchase journey:

We have spent an enormous amount of time to understand the customer behavior, reactions, prefer choice, Brand Relevance, Product selection, after-sales issues and so on. We do not do surveys but our expert’s discussion with them on the most critical issues and other business dynamics helps them understand the flaws in the system.

We found many customers who recommended the brand and product to other customers in his circle. We have identified the reasons for the recommendation.

In our initial journey, brand relevance is an important factor to convert the name of the brand into sales. We have done an exclusive study on brand relevance.

We are also have done research on the Indian truck market characteristics based on performance, distance, and applications in detail.

Fleet Owner journey- From Product to Service


Fleet owner Truck buying steps

Truck Driver Issues:

The availability of the drivers is another challenge for Transporters. There are two sides to the Truck driver’s issues. One of the major factors is a social and economic factor which is present not only in India but also in a developed country like Germany. Health is also another challenge for drivers depending on the driving time and resting period. Fleet owners considered a small amount like 1,000 Rs for reimbursement during on-duty health issues.

Employment in the Indian logistics industry, particularly as a truck driver, is a hard life. Truck drivers typically spend long periods away from home and family; more than 25 percent of drivers return to their home base only after 10 days. This time gap will reduce the quality of life and this will lead to poor outcomes in both physical and psychological health. Around 50 percent of the truck drivers face driving-related health issues. In the year 2018, approximately 70 percent of truck drivers did not have any medical check-up. Truck drivers are also poorly paid, earning only half as much as cab drivers. Furthermore, poor logistics practices often lead to unsafe practices such as overloading of trucks, which will make them compromise road safety both for truck drivers and those with whom they share the road.

This combination of factors— low pay (7,000 to 10,000 INR monthly), high risk and low quality of life is driving a decline in the number of truck drivers. From 900 truck drivers per 1,000 trucks in 2001, the number fell to 550 truck drivers per 1,000 trucks in 2018.

Some companies are taking initiative and trying to support truck drivers. One of the companies started to provide hygienic food at 90 Rs to Truck drivers on highway and facility to park their vehicles at night.

Another non-profit organization IIFM started to train the drivers, provide Social security benefits, give them an identity, Professional benefits and so on.

Truck Driver Issues and ACG Driver survey

Some people take advantage of this shortage of drivers to arrange the CV driving license illegally to become a truck driver. The transporter firm does not check the authenticity of the license and also it is a difficult task to know about drivers. It is also noted that many times criminal people also follow the same practice to attain the license.  It happened many times that these illegal truck drivers sold the transporters material in which they drive and run away with the amount.

Another challenge is when a driver wants to become a fleet owner; it is a difficult task to get finance. If they become the fleet owner, they need finance to manage operating cost. Most of the companies are offering services to fleet owners but not drivers. Automotive suppliers, OEMs, Financial institutes should take CSR initiatives for drivers to manage the operating cost. Many firms hesitate to do that since it will impact their profit range.

Brands should leverage such social issues to make the market better for their better future. It is easy to connect with potential buyers or users emotionally to sell the product rather than taking in celebrities to advertise the product to enhance the sale rate. ADAS also can play an important role not only for drivers but for the entire CV Industry.

ADAS in Truck Vehicle

Vehicle Efficiency:

There is an urgent need for introducing the Pallet system; this standard system increases the incredible efficiency of loading and unloading time. This system can reduce 70 percent time and this would be 25 percent more cost-effective.

The semi-trailer segment also helps to increase the efficiency because the large and fully loaded trucks transport carries more freight per kilometer driven. High loading efficiency can be achieved in two ways, first by moving towards the larger trucks segment and second by collecting small loads into large ones to fill those trucks.

Articulated Tractor Trailer segment need to be introduced in India

This helps to prevent wastage of time and money. Logistics efficiency can also benefit farmers through a reduction in loss and wastage of product during transportation to markets. Brazil widely used Semi-Trailer for the transportation of Agricultural products.

The fully-loaded trucks are dispatched in time by technologically and operationally sophisticated logistics. The logistics are the optimal state of affairs. Medium & Heavy trucks require sufficient infrastructure to enable their effective operation.

The cost of the freight movement by road is 2.61Rs/ton for one km as compared to 1.43 Rs/ton per km for rail and INR 1.09/ton per km for waterway transport. The transportation by Truck provides a lot of flexibility to transporters and the consignee.

The revised and improved measures will improve logistics and improve the overall performance of all sectors.

Efficient logistics is a cornerstone of the continuation of India’s economic development over the coming decades.

By reducing the transportation cost by 5 percent in India, the demand will increase between 6 to 12 percent depending on the type of products and other product characteristics. The truck logistics cost is one of the major cost factors in the entire supply chain it has to be maintained efficiently for a better profit margin.

India loses 20 to 30 percent of agricultural production profit due to wastage in the supply chain. Reducing that wastage could both provide a boost in the income to the farmers and also lower overall prices to produce and creating better access to high-quality food for Indian citizens.

After-sales or Product support is always a very critical issue for Transporters since it is business for them. We have identified various parameters which will impact the clients on their first time and repeated purchase of products.

Many Tech companies are trying to penetrate the commercial vehicle by introducing many latest technology solutions. Until and unless the companies do not understand the ecosystem, it is difficult to be successful in the market. The truck industry is dominated by small and medium-sized transporters and the profit of this segment is less. The truck industry does not have enough budgets for digitization and technology development. Another reason for the reduced success rate is the declined literacy rate of the drivers, fleet owners, and the third reason is conventional business practice.

Truck Fleet Management Software Solution

ACG developed Exclusive software for Fleet Management companies which would help all stakeholders of Industry. It improves Transporters efficiency immediately after implementation. It is suitable for medium and large fleet owners.

ACG Fleet Management Software

ACG Fleet Management Software_Trip Summary


Key Aspects of Post Sales:

Truck After Sales Analysis

For the purpose of keeping the post-sales cost on the lower side for the manufacturers necessarily need to implement some of the effective strategies of maintenance like maintenance based on time, condition and predictive maintenance with the use of remote monitoring for the improvement of the product uptime. The companies can significantly reduce the ownership cost by lowering the repairs that are costly, enhancing the lifecycle of the products and an improvement in the performance of the product.

In the first part, we analyzed the Long Haul vehicle and in After Sales, we are talking Tipper as an example. The tipper customers have to necessarily total ownership cost over the vehicle’s life cycle. The cost of operation of the vehicle like the wages of drivers, fuel and other tax and toll charges contribute to the total ownership cost. This is estimated to be about two-thirds of the total cost. The balance of accounts post-sales ten percent and nine percent depreciation of the vehicle. The post-sale cost of ten percent is further divided into eight percent for repair & maintenance and two percent for oil, tires and vehicle cleaning. The mentioned percentages might differ as per the pattern of usage. For example, we can consider the ones whose usage of the vehicle is less intense, the post-sale cost will be around ten percent. But on the other hand, the cost might be around twelve percent if the vehicle is used in conditions that are quite challenging in nature. The post-sale cost can further be divided into labor and parts. Only labor averages to about forty percent of the total post if the service, as well as the maintenance, is done at OEM garages. The remaining sixty percent is for the spare but those are consumed directly at the time of maintenance and repair.

Repair and maintenance are actually two different activities that are being performed at the service centers of the OEMs. The maintenance of the vehicles basically includes inspection along with the wear and tear. The inspection so carried out are recurring jobs that have to be necessarily carried out at regular intervals of time depending on the kilometers run by the vehicle. The wear and tear refer to the small damages occurring normally as the aging process of the vehicle. Wearing out of the tires or the replacement of the oil filters or the air filters are examples of wear and tear. This is a gradual process and hence possible to go for scheduled maintenance as per the requirements. For general maintenance, downtime cannot be avoided. Therefore, the ultimate objective of the Tipper customers should be to keep the related costs on the lower side as much as possible.

Process of Breakdown:

Repair and diagnosis as a result of any breakdown or an accident happen unexpectedly and this is the reason as why it is so important to minimize the downtime. This is even more important due to the fact that a huge number of manufacturing companies necessarily deliver the items to the customers just in time. The delays in shipping seriously impact the parts supply of the downstream supply chain activities. The manufactures in this regard provide 24*7 backup as an emergency but they should also provide the first time appropriate diagnosis by keeping handy skilled and trained manpower along with the possession of the required diagnostic tools. Once the diagnosis has been made at the time of attending the breakdown process, the breakdowns that are less complicated should be dealt instantaneously on the spot and in the more complicated cases the vehicle should be towed to the nearest authorized service centers where the repairing should be either immediate or within 24 hours depending on the hours of business, the severity of the breakdown and at what time it has occurred.

Requirements Of Customers

For the minimization of the total ownership cost, low priced services are essential and the same goes for the spare parts as well. However, the needs of the customer regarding uptime as well as the total cost of ownership do not have the same importance across all the segments of customers. For the owner-operators, the requirement for high service availability is of immense importance if the vehicle happens to be a vital tool for the conduction of business.  The requirement for high-quality post-sales for the owner-operators is just as important as compared to the other CV customers. In spite of the strong need for lowering the total ownership cost, there are only a few options available for the reduction of these costs.

The operators of large fleet usually pay the most attention to service availability as well as quality. They get on terms with the manufacturers for some of the special deals at the time of purchasing the vehicle, where they ask the manufacturers for fixed costs based on per ton-kilometer and service levels. The operators of large fleet and municipalities generally have a very critical fleet size for the determination of whether setting up a proprietary service workshop would be an economically better option or offering additional cost reduction potential would be better.

Different Types of Service Providers:

  • Customer workshop available in the house
  • Private parties owned workshops
  • OEM’s authorized garages
  • Workshops of OEM.

In general, the customer workshops available in-house are equipped for the purpose of providing only very simple services like the treatment of wear and tear, minor inspections and very simple repairs. The private garages usually deal with almost all types of OEM vehicles and are necessarily in possession of all sorts of sophisticated tools as well as equipment and are able to offer even breakdown services to the customers. The Garages that are authorized by OEMs generally have all the types of required tools and equipment. The manpower of OEMs is adequately trained and vastly experienced for the purpose of providing all sorts of services that then customers require. But still, there are a number of customers who prefer only the OEM workshops where services are quick and prompt along with the availability of a required set of tools as well as equipment and also with back up spare parts. Thus, almost all sorts of service and maintenance related decisions are taken rapidly which in turn plays a vital role in the reduction of the downtime to a great extent.

To sum the whole thing up, the post-sales costs are certainly one of the most critical elements which get the attention of the Tipper customers. Thus, at this point in time, they should be following

the two objectives of uptime maximization of the vehicle and total cost of ownership minimization post-sales. By doing the same, depending on the customer segment, the Tipper customers can necessarily select between the authorized, independent, and the in-house customer workshops, that are varying in their scope as well as capabilities of the service. Moreover, a few of the cases mentioned above can be certainly taken care of necessarily at the spot of breakdown itself. In many cases, the vehicle might require to be towed to the authorized services centers that are nearby.

Development of the OEM Owned And Authorised Service Outlets:

The service outlets owned by the OEM are on the rise and this rise is very likely to go on for two main reasons.

  • Firstly, the OEMs many times find it very difficult to find the appropriate independent investors in the areas that are less populated initially.
  • Secondly, there are some OEMs who have intentionally chosen to follow a network strategy that is owned by the OEM for the purpose of being much more responsive to the market conditions that are volatile in nature.

During the warranty period, almost all of the fleet owners necessarily make use of OEM service outlets, and post-warranty period, the owners who have fleet strength of about 80 to 100 vehicles prefer to have their own setup for service. But on the other hand, the small fleet owners maintain a tie-up with local service centers for all types of minor routine works and when they face some major problems, they take help from the OEM service centers.

For the fleet owners who have achieved a certain fleet size, for them, it might be a good option to set up their own in-house service workshop. Now, when they have their own workshop, the fleets necessarily have much greater flexibility at the time of scheduled maintenance and often they can achieve lower costs owing to the fact of the lower expenses for marketing and overheads. However, it is to be kept in mind that the capabilities of these in-house workshops are generally limited, since the main focus in only on the simple maintenance services. But in case the more complex maintenance services and repair, the work is to be necessarily forwarded to external service centers.

Distribution of Spare Parts:

The spare parts distribution network is much more complex as compared to the service network for the four main reasons that are listed below.

  • In case of the service network, it is only the CV operators who are only indirect customers, whereas, for the network of spares, it is the OEM owned or authorized service outlets, independent service providers, as well as the in-house workshops of the customers, are actually the direct customers.
  • Coming to the supply side, apart from the OEM, the OES and the parts of matching quality producers also exist. The OES not only sell the parts to the OEM but also, they sell on the aftermarket at the same time.
  • The parts of the matching quality producers are usually from low-cost countries, like China, who provide similar copies of the OES parts at a very competitive price.
  • Finally coming to the side of the distribution, both the OES and parts of matching quality producers have the scope of either selling directly to their customers or selling through independent parts wholesalers.

Share of The OEM Parts:

In spite of the presence of matching parts manufacturers, the share of OEM parts is on the rise due to the fact that in the OEM’s organization, the OEMs necessarily benefit from the fact that suppliers are also the consumers. The service outlets owned and authorized by the OEMs directly consume the spare parts which they need for the purpose of providing the required service to CV customers. In particular, the service outlets that are not only owned by the OEMs but also are authorized by them necessarily have a very high degree of loyalty to the OEMs and the major portions of the spare parts is also received through the OEM’s organization. In addition to this, the OEMs get a lot of benefit from the coverage of the total value chain. About one-third of the total CV customers purchase the maintenance as well as the repair packages in addition to the vehicle itself. Now, in these cases, the OEM takes the risk of future maintenance as well as the repair costs and thus the vehicles are serviced within the network OEMs along with receiving all of the required spare parts through the OEM’s organization.

For the purpose of increasing the reach of almost all of the CV manufacturers, it appoints an exclusive spare parts outlet or the distributors. These outlets or the distributors necessarily make sure that the spare parts are available at the retailer’s shop as well. The spare parts outlets owned by the OEM are expected to rise modestly, but given their low significance about the overall share of outlets, this rise will be quite marginal in nature. In recent times, though the number of outlets has gone down, it is expected to grow again in line with the overall market thereby an increasing trend would be followed in the case of the parts outlets.

Source Of Spare Parts of Authorised Outlets:

Now, if we consider the supply of parts by respective service providers, the service outlets owned by the OEMs receive a hundred percent of their spare parts through the OEM organization as they are an integral part of the same. However, on the other hand, the authorized service outlets do not have any kind of obligation for sourcing their parts through the OEM. Instead, the service outlets that are authorized have the freedom of choosing where to source their supply of spare parts.

The spare parts outlets that are authorized can enjoy a lot of advantages at the time of sourcing the parts from the OEM. For example, we can consider the OEM’s organization. First of all, the OEM provides great support in the adequate stocking of the parts. As the authorized spare parts outlets maintain a wide range of spare parts in stock, they require to have a detailed knowledge along with the historical data for the determination of the optimal levels of stock for each of the parts individually. Secondly, the OEM covers the risk in a case when the levels of stock are not true. This happens either when the stock levels are too high which has led to a very high capital employed or in a case where the stock levels are too low which means that there is the requirement of an emergency shipment by the OEM. Thirdly, the authorized outlets take advantage of a high performing, proven, trusted as well as a reliable network of logistics and IT systems. Fourth, the authorized outlets are one-stop shopping and a common part numbering system greatly reduces the complexity in communication and the IT systems. Ultimately, the customized financial conditions also help in providing an incentive for sourcing the parts from the OEM, and this in turn finally results in the lowering of the costs of sourcing.

ACG developed exclusive software for Automotive Industry:

ACG Digitization of Truck After Sales Support Software

Key Highlights of the report:

  • Indian CV and Truck Market size in Volume (Volume) & Value (in USD)
  • Application wise Short, Medium and long term Demand Forecast
  • Impact of New norms on Commercial Vehicle market like pricing, demand and after sales support
  • State wise Market size, Key players, and Forecast
  • Pricing Strategy and discount trend
  • After Sales service Analysis
  • Key Market Drivers and Dynamics
  • Key Model – Specs, Features, and Price
  • Application wise Demand Analysis
  • OEMs wise Product Strategy
  • Indian Transportation Industry
  • Fleet Owners Survey
  • Fleet Owner Business Model
  • Freight rate analysis
  • Fleet owner pattern trend
  • Key factors for Fleet owners
  • Market forecast
  • Technology Role Indian CV Industry
  • Customer Buying Journey
  • Competitor Analysis
  • Product Strategy, Portfolio, and Portfolio
  • Segment wise Application Product, Market share, and OEMs wise Volume
  • Segment Analysis: SMall commercial Vehicle, Light Commercial Vehicle, Medium Commercial Vehicle, and Heavy Commercial Vehicle
  • Sub-segment Analysis: Mini Truck, Pick up Truck, LDT, MDT, HDT, Tractor Trailer, Tipper and Special Application
  • Segment shift Trend and Forecast

Indian Commercial Vehicle registered 27 percent growth in CY 2018 compared to CY 2017. Market sentiments indicate that Industry maintains at least double-digit growth in the next 2 years.

Tata Motors, Mahindra, and Eicher gained market share in CY 2018 but Ashok Leyland lost market share in most of the segments of CV.

Indian Commercial Vehicle Market Share 2018

The heavy-duty truck market of India is rapidly developing on a regular basis. This can be very well proved from the robust growth of the Mini/Pick up and heavy-duty trucks market in India in recent times and further growth is expected in the time to come. It is expected that the market will keep up the positive momentum. In India, the truck market touched a high level in 2018, but demand weakened due to the crash crunch to vehicle finance. 

Global key Truck Markets and Forecast 2019

As shown in Graph, Tata Motors gained a 1 percent market share, Mahindra lost 2 percent market share, Ashok Leyland also lost 1 percent market share, and Eicher market share is almost stagnant.

Indian Truck Industry Market Share 2018

A noticeable price increase of 7 to 10 percent at the time of migration from BS III to BS-IV. On the other hand, at the time of changing BS IV to BS VI will have a minimum 10 to 15% price increase which will necessarily have a significant impact on the sales growth and OEMs margin.

MHDT and LDT Truck Segment: LDT segment registered 32 percent and MHDT segment registered 30 percent growth in 2018 compared to CY 2017. BharatBenz registered second the highest growth of 35% after VECV.

Indian Medium and Heavy Duty and Light Duty Truck Market Share 2018

In both MHDT and LDT, Tata Motors regain its market share. In LDT segment Mahindra lost 3 percent market share even after doing aggressive promotion. We will discuss later on how Tata Motors regain market share in every segment.

In the MHDT segment, all OEMs registered double-digit growth except Volvo (It is also not relevant to compare due to its premium segment presence). In LDT segment, Piaggio and SML Isuzu registered de-growth in 2018.

Indian Medium and Heavy Duty and Light Duty Truck growth analysis 2018

One issue that pops up at the present time is axle load norms but it does not impact light & medium-duty truck and premium truck category. The impact is on higher tonnage trucks such as 37T and tractor-trailer. Now, the vehicle would be able to carry an extra load of up to 25% which is of great benefit to the customers. Most importantly, it plays a vital role in the help in the modernization process of the industry. Two axle truck which is currently 16.2T GVW is raised to 18.5T GVW. The popular category of 25T is increased to 28.5T GVW, and the 5 axle truck of 37T is increased to 43.5T GVW. The tractor-trailer GVW is increased by up to 36% GVW. OEMs necessarily need to make a lot of changes in the overall truck architecture such as tires, brakes, steering systems, etc. accompanied by an increase in the cost as well.  As the overloading comes down significantly, this new norm will certainly have a positive impact on Industry.

A discussion with the transporters made it even clearer that the impact of such norms is limited to only 30 to 40 percent volume at the time of carrying goods that have a high density such as copper, marble, cement, copper coil, sand, etc. About 60 to 70 percent of the volume will be not be impacted as a result of the low density of carrying material. Thus, it would be a good step if the norms are implemented at the time of the introduction of BS-VI since all the required changes in the architecture of the vehicle will be done at one time.

As a result of improvement in infrastructure, mining, the growth of GDP, and pre-buying of implementation of BS-VI, the industry is all set to see a growth of about 30 percent in the year 2019. The infrastructural activities will enable the tipper to have double-digit growth in the year 2019 from the previous 6 percent in the year 2018.

The heavy-duty truck market of India shows constant signs of healthy growth, particularly among the medium and the larger fleets which are on the verge of expansion. Throughout the market segments, it has been observed that about one in every four fleet managers and owners were planning to upgrade to value trucks thereby resulting in the creation of a significant upmarket sales potential.

Overall, this movement will certainly have a positive impact on the sales of trucks. The greater is the load-carrying capacity, more will be the generation of revenue and transporters will go for reinvestment in buying new trucks.

A scrape policy is all set to be introduced for commercial vehicles that are more than 20 years old. This is will have a maximum impact on the heavy-duty trucks. About 80,000 new vehicles are expected to replace the old vehicles. Now, if we combine the impact of BS-VI norms (Downturn impact) and the scrape policy, the result will certainly be positive for the volume.

The two giants in this field Tata Motors and Ashok Leyland will have the maximum impact on the norms and VECV Eicher will have a minimum impact of these norms due to its insignificant presence in this segment.

Almost all Indian fleet owners want to buy reliable vehicles in the future. Mining, construction truck and, the logistics companies who work in the long-distance transport segment will be the drivers of growth in the time to come.

The transportation industry of India is on the verge of taking a new shape. There are several logistic parks which are built near the major towns and cities. This new transportation design will result in the boosting up of the small and heavy-duty truck volume.

Tata Motors was struggling for appropriate gains in the market share and margin improvements on their home turf in the Indian markets. MAN decided to shut down its operation in India and another major player AMW also stopped its operation in India. Several other players are facing a similar issue and hence the opportunity is quite open to Tata, Ashok Leyland, Eicher, and BharatBenz.

Indian truck manufacturers can excel in their home markets and create a competitive advantage by focusing on the needs of the customers in the domestic market. ACG has interviewed more than 3,000 customers over a period of 30 years to get a detailed idea about factors that the customers find most important at the time of deciding on which truck supplier to use.  This report, which focuses on the opportunity in India, reports on our third and most recent survey of 550 buyers of Mini, Pick up, LDT, MDT, and HDT trucks in six key states of India.

Product and Brand Perception:

Market Oriented Interpretation or Brand Perception

Key Purchase Criteria Trend: 

After leaving MAN and rumors about Scania give strong reasons to buy in the Indian makes. Among our findings, we have learned that the buyers are increasingly making purchasing decisions as per the best value they get for their money, which necessarily includes the purchase price, operating costs, maintenance cost, and the performance of the truck. Very few buyers are of the viewpoint that the brand image plays a role in purchasing decisions, but they necessarily value good relationships with the dealers, service points as well as the manufacturers. The brand image and experience play an important role in mining and ODC application.

Truck Purchase Criteria Study 2019

Tata Motors is an extremely good example in this regard. After losing significant market shares in several segments of CV, the company started increasing its engagement with the customers, dealers and other stakeholders. The company also made its product portfolio rich in order to gain market shares and focused on repeat purchases as well as referral sales. The reduction of cost to keep the margin high and launching new products also helped a great deal for regaining the market share. Tata Motors launched about 70 new products in the financial year 2018.

Tata Motors CV Strategy to gain market share

Brand differentiation Strategy:

At this point in time, it is getting much harder to differentiate trucks of the same segment. Several different brands have reached a minimum level of performance, beyond which it is difficult to get paid for superior performance. But now the meaning of “truck performance” is shifting a lot from the driveline (engine and gearbox) performance to several other factors such as fuel efficiency, cost, dealer relationships and quality of service. OEMs need to shift from Product to service provider concept. We certainly believe that these factors will necessarily become the main differentiators for truck manufacturers in the years to come.

OEMs can make differentiation with the help of the strategies mentioned below:

  • Availability of service and parts network
  • New product launches keep the primary focus on the customers
  • Development of end to end customer support system
  • Uptime guaranty
  • Extended Warranty

ACG analytics expects domestic commercial vehicle (CV) sales to rise ~22% in fiscal 2019.

The forecast is divided into Sales and Production (Goods & Passenger carrier) segment. The segment further divided into OEMs and Model level along with key technical specs and product features.

Indian commercial Vehicle Industry and outlook 2019

Major Industry Drivers are:

  • National road development
  • Pradhan Mantri Awas Yojna
  • GDP growth
  • Some new pre-election announcement
  • The new product range of higher GVW/payload
  • E-commerce sector growth
  • Regulation

BS VI Norms impact on CV Industry:

  • BS VI impact on demand
  • The cost impact on vehicle
  • The function of SCR/DOC and DPF
  • Emission Control through Engine Design
  • Technology impact of BS VI
  • Other aggregate and cost impact
  • Global Strategy of using SCR and EGR for various Norms
  • Subsidiaries and tie-ups for after treatment
  • Supplier Market share
  • BS VI regulation and history of emission norms

Key highlights of the report:

  • Short-term demand
  • Medium Term Demand
  • Long-term demand
  • Competition Analysis & players Strategy Analysis
  • HCV demand Analysis
  • MCV demand Analysis
  • LCV demand Analysis
  • SCV demand Analysis
  • Bus demand Analysis – Application wise
  • Cost variables
  • Margin Analysis
  • Regulations Impact Analysis
  • Brand Position
  • Brand engagement
  • The relationship between Brand perception, and Application
  • Changing buyers behavior
  • Top purchase criteria
  • After sales – Maintenance cost Analysis
  • Forecast Value and Volumes
  • Vehicle type
  • Engine type
  • GVW wise
  • Transmission type
  • Fuel injection type
  • Vehicle Financing Type and issues
  • Import and Export Trend and Forecast
  • Model-wise Price and Discount Analysis
  • Product benchmarking and Product Portfolio
  • Customer Experience
  • Driver feedback on vehicle usage, USP and its best-suited application

Please contact us for more detail and Table of content

There are many market dynamics are going to affect the Indian LCV market. ACG analyzed regulation, Load trend, New Product development, Technology, Emission norms, Demand, Trend, Market Sentiments, Pricing factors, and other key criteria to draw the sketch of Sales and Production forecast. We analyzed the Industry challenges & Drivers. 

We have an exclusive City, Model & Brand level database. Along with numbers, Price, Engine Type, Engine Make, Warranty, GVW, Payload, Variants, Product series, Key Application, Product life cycle, Product risk rating, Product series, length, Wheelbase, Clutch Dia, Engine Power, Tyre size & Type, Type of Transmission, Transmission Make, Spare parts, Product USP of each model, Duty cycle, Macro Economy, and other key information. 

The purchase behavior is different compared to heavy commercial Commercial. Some of the purchase parameters are going to change and ACG considered those parameters in our forecast methodology.

The database is divided into two parts, Truck, and Bus. Most Popular Model of Truck and Bus based on Price, Volume and other Technical criteria. Van, Mini trucks, Pick Up, Rigid Haulage and other types of vehicles are included.

Companies included like Tata Motors Limited, Ashok Leyland Limited, Mahindra & Mahindra Limited, Eicher, BharatBenz, SML Isuzu Limited, Maruti Suzuki India Limited, Force Motors Limited, and Piaggio Vehicles Private Limited.

Following are the other keys highlight of the database:

  • Product Planning & Strategy
  • Competitor Analysis
  • Business Strategy of OEMs, Suppliers, NBFC, and other stakes holders

Sales and Forecast report are also available in other regions like Europe, Africa, NAFTA, Asia, and the Middle East. As a part of an Annual subscription package Monthly, quarterly and Yearly Forecast data is available.


We have released Sales and Production forecast data of Indian Truck market. The forecast data defined in the following category:

  • Total Commercial Vehicle Trend and Forecast 2030
  • GVW/Tonnage basis
  • Mini, Pick up, LDT, MDT, and HDT
  • Axle type based
  • Vehicle Type: Haulage( Box type, Open, refrigerated etc.), Tipper (Construction, Mining, Tunnel operation),  Special Application (Municipal, Tanker, Fire, Transit mixer), Trailers (Flat Bed, Semi Trailer, ODC etc)
  • OEM (Tata, Ashok Leyland, BharatBenz, SML Isuzu, Swaraj, VECV Eicher, VECV Volvo, Scania, Mahindra) and Model wise breakup
  • City, State, and region wise Data
  • Other useful information like Market Size, Pricing, Engine, Transmission detail, Export Opportunities
  • Market Dynamics
  • Consumer Demand Analysis
  • Competitive Dynamics
  • Market Trend Analysis
  • Truck Fleet owner data based on Fleet size
  • Brand Position and Strength
  • Another data is Model wise Production data Trend and Forecast 2030
  • Key specs of Model
  • Company profile of OEMs

The data is useful for 

  • Future strategy
  • Market and segment trend analysis
  • Competition scenario

The data is available in Excel and ACG Analytics software.

Indian Truck Market is witnessing many major changes in the last 3 years and it is expected to see some more major changes in the next 10 years. The market size of Indian Truck in 2018 is around 0.79 million units. The combined segment share of the Small & Heavy Duty truck segment is more than 85 percent in the current fiscal year. The market is expected to reach 1.2 million units by 2030. Most of the product up-gradation and new launches belong to the Value plus segment which makes it the largest market segment. Even Daimler and MAN Truck decided to enter into this segment in India.

Indian Truck Industry Trend and Outlook FY 2018

Indian recent economic reforms and expected GDP growth create positive market sentiments. Govt is implementing some new safety norms which will be implemented in the next 2 to 3 years.

The industry is shifting towards a heavy segment due to better TCO and ROI. This year 31T plus segment overtake 25T segment. Tractor Trailer showed a 60 percent growth in FY 2018 compares to last year.

In 2010, the industry was dominated by a low-cost truck with low horsepower and Cabin Chassis Truck models. By the end of 2017, the low-cost segment moved to the Value plus segment. The premium segment is still struggling to get good sales volume due to its low ROI.

Indian Truck Market Report FY 2018 - Premium, Value plus and Low cost

Tata Motors is a market leader in the Truck segment. The company is having a double-digit segment share in all sub-segments. Ashok Leyland, Mahindra, VECV Eicher are strong in some specific segments.

Truck OEM Market Share FY 2018

Report Highlights:

  • Indian Truck Industry Market size and Outlook 2030
  • Definition of Premium, Value plus and Low-cost segment – Market Dynamics, Market Driver, Price, Segment size and Outlook, Key Models
  • Mini Truck Segment Analysis
  • Pick up Truck Segment Analysis
  • Light Duty Truck Segment Analysis
  • Medium-Duty Truck Segment Analysis
  • Heavy Duty Truck Segment Analysis
  • Special Truck Segment Analysis
  • Rigid Truck Segment Analysis
  • Tractor Trailer Segment Analysis
  • OEMs Product mapping and its presence in segment and Sub Segments
  • OEMs Product Strategy Analysis
  • Model-level product position, Specs and Features
  • Application wise Market Analysis
  • Brand Analysis
  • Competitor Analysis
  • OEMs Market Share fluctuation
  • Product Lifecycle Analysis
  • Product USP
  • Customer pain area
  • Customer Satisfaction Analysis
  • Customer, Application and Product mapping

Fleet owner Survey:

  • Types of Transport companies (Low Budget Segment, Value plus Segment, Premium Segment), Influencer, Decision-making – Company size, Fleet & Company profile, Application, Portfolio, Truck type, Fleet size, Make
  • Purchase Criteria for each segment – All factors included
  • After Sales Survey: Maintenance, Repair, Response time, Warranty, On road assistance, Spare parts etc.
  • Brand Perception: Pricer & QUality and Segment comparison based on perception of brand

This is a detailed report on Indian commercial vehicle industry’s the on-going trends and the outlook for the year 2018. The ultimate aim of this report is to find out the reasons why and how the segment share and growth has changed in previous five years. This report also details on what and how the industry will like look like in upcoming five years.  The main reasons for the changes in OEMs market share in the main segment and their every sub-segment will also be signified in this report. The Indian Commercial Vehicle has registered a growth rate of twenty percentages in the domestic sales segment. The Indian Commercial Vehicle Industry has shown a de-growth of 10 percent in export for the year 2018 compared to the previous year 2017. The current market size of the Indian CV is approximately 8.7 lakhs units for the year 2018 included MAN, DICV, and Scania. The Industry has anticipated a double-digit growth for the year 2019 for SCV and HCV segments.

Recently ROI is also changed of Premium Truck and Bus product and fleet owner expected to reduce ROI cycle at least by one year.

ACG expected that Value proposition solution and vehicle utilization will be next game changer for the Industry. 

Indian Commercial Vehicle Market Analysis 2018 and Outlook

The government has recently initiated five major steps in N and M category vehicles for safety standards. The development of infrastructure, growth of economy, replacement cycles, the new and upcoming rules and regulation, transportation of heavy goods and machinery, growth in the construction and mining segment, advancement in technology, E waybill systems, new safety norms, telematics, high demands are expected in the rural economy due to normal monsoon, overloading ban, hub and spoke model started to work on the ground are the major initiative and the key drivers for development and growth of industry. The Ministry of road transport was successful in building 9829 kilometers of National Highways during the year 2018 which is approximately twenty percent of growth compared to the previous financial year.

New systems like the emergency button and GPS tracking devices will be made mandatory accessories for selected vehicles. The OEMs will have to pass the changes to initiate the technical changes which will cost a good amount. The year 2018 registered a huge growth for the tractor-trailer, Tipper, and 31T plus rigid haulage. ACG expected that value proposition solution and utilization of vehicle can be considered as the next game changer for the industry. The report included Product/ Make presence in every segment, its position, Specs, Features, Application, and other key information.

Ashok Leyland has been successful in narrowing the gap against its competitors and improve their market share in all major segments. Tata Motors has lost a valuable 12.5 percentage of market share in CV segment.  Ashok Leyland, Mahindra, and Eicher have increased their market share compared to their competitors. The OEMs are mainly focusing on the introduction of new product and their up gradation. In the year 2018 Tata Motors have successfully narrowed the gap with Mahindra and now it is just a mere 7.5 percentage difference in market share in SCV segment. Tata Motors made a change in market share value from a range of 26 percentage to 28 percentage with Eicher Motors in the LCV segment. In MCV segment, Tata Motors has also made a change of market share value of two percentage with Eicher in the MCV segment whereas they have made an improvisation in the HCV segment by increasing the market share value from 33 percent to 36 percent in highly registered HCV segment. Ashok Leyland is taking up the huge initiative to narrow the gap with Tata Motors since the year 2013. The detailed analysis covers and mentions each segment and their sub-segment of the Indian Commercial Vehicle Industry.

Ashok Leyland Commercial Vehicle Segment Performance Analysis

There has been a detailed discussion and various meeting with the fleet owners, established professionals, market dealers, financiers, and experienced drivers to have their opinions about the product and expectations and details of large medium and the small fleet owners.

Fleet Owner Survey

Report Highlights:

  • Market size and growth
  • Market outlook
  • Expected segment shifts and the current trend
  • OEMs performance in terms Product, Sales volume, and Market share
  • SCV, LCV, MCV, and HCV segment Analysis, Major products, Price range, Market dynamics, Market drivers, challenges, Sub Segment movement, Product USP, Product life, Operating cost, After-sales business practice, Products specs and features, Competitor Analysis and Application
  • Product lifecycle
  • Key products
  • Soft offering
  • Network Analysis
  • New Product launches and upcoming products
  • The starting point for Electric Commercial Vehicle
  • Product and market size mapping of each OEMs
  • Low cost, Value plus and Premium CV segment
  • Product portfolio
  • Horsepower wise Vehicle sales analysis
  • Nest 5 years sales forecast
  • Macroeconomy Analysis 
  • Primary Survey of Fleet owners of Truck and Bus – Product Issues and USP
  • Gap Analysis
  • Brand promotion activities
  • Brand perception – category wise
  • Model-wise and Application wise TCO is available on request

Indian Automotive After Market Analysis is our exclusive Report. During the recession time also most of the After Sales departments of the OEMs created attractively revenue and margin. ACG expected that growth of Indian Aftermarket will be in double digit in next 5 years. Branding is still not a major factor for customers.

Key Highlights of the Report:

  • Market Assessment
  • Market Segmentation
  • Market attractiveness
  • Market Evaluation

Segment: Passenger Car, Truck, Bus, Two Wheeler, Three Wheeler, and Construction Equipment

  • Key Findings
  • Key Trend in Car (PV), Commercial Vehicle, Two Wheeler and Three Wheeler
  • Future demand and qualitative assessment of the opportunity & Challenges
  • Segment wise market by cluster and Key pockets
  • The overall impact of Electric Vehicle on After Market business
  • Understanding state and district wise Channel structure
  • Market mapping – Size, OEM, and Local
  • Pain areas
  • Retail Demand Analysis
  • Market Potential Analysis
  • Assessing the competition structure, and in-depth analysis: Successful business model, and nature of competition for benchmarking
  • Market development initiatives – promotional campaigns (Traditional & DIgital),tie-ups with garage owner/mechanics
  • Understanding business relationship with their existing principles and customers 
  • Market Share by OEMs, Vendors, Unbranded and others
  • Aftermarket Structure analysis and expected change
  • After Market Business practice 
  • Key Growth Drivers of Automotive Aftermarket
  • Promotions, credit and another element of the distribution practices
  • Automotive Aftermarket Trend analysis
  • Major Aftermarket characteristic analysis
  • Automotive Aftermarket Roadmap analysis
  • Automotive Aftermarket—Growth Opportunities for Industry Participants
  • Aftermarket Spare Parts Revenue & profit Distribution by segment and sub-segment 
  • Market share analysis in After Market
  • Entry Strategy to enter in Indian Aftermarket by product segment
  • Vehicle Age and its Maintenance cost Analysis
  • Service Type Analysis
  • Fast moving parts definition, their market size, and specs
  • How Digital technology giving new shape to Auto Market
  • Goodwill warranty Analysis
  • Consumer category & behavior
  • Service center types and Outlook
  • Availability and Unavailability of spare parts
  • Chinese spare parts impact in After Market
  • Awareness campaign among dealer and mechanic
  • Price, Discount, and Profit margin Structure
  • Qualitative Analysis of customers and mechanic
  • Understanding the customer needs, Gap Analysis, Perception, Requirements, Expectation (Service, Quality, Cost & other parameters)
  • Assessment of retail demand of spare parts – State and District level parts 
  • An influencer in the supply chain
  • Perception of Aftermarket – Segment wise
  • Future plan – Capacity expansion, and Growth in next 10 years

Image credit: Igor Ovsyannykov

Indian Commercial Vehicles Trend and Outlook is a detail analysis report which covers all stakeholders of the Industry.

Indian Commercial Vehicle Market Analysis 2018 and Outlook

Table of Content:


  • Indian Commercial Vehicle Industry Overview and Structure
  • Indian Macro Economy and Forecast
  • Key findings
  • Scope and Objective

Country Analysis

  • PESTLE- Social Impact Analysis, Technological Impact Analysis, Legal Impact Analysis, Ecological Impact Analysis
  • Hofstede's cultural dimensions: Power distance index (PDI), Individualism vs. collectivism (IDV), Uncertainty avoidance index (UAI), Masculinity vs. femininity (MAS), Long-term orientation vs. short-term orientation (LTO)
  • Negotiation Style

Segment Analysis – Goods and Passenger Vehicles Analysis

  • Vehicle Segment Structure based on different parameters
  • Historical Trend Analysis of CV Industry
  • Total Industry Volume of Passenger and Goods Vehicle
  • M&HCV Market Size
  • LCV Market Size
  • Brand-wise M&HCV sales and Segment share Analysis
  • Key Product Analysis of M&HCV segment – Price, Features & Technical Specs
  • Brand-wise LCV Sales and Segment share Analysis
  • Key Product Analysis of LCV segment – Price, Features & Technical Specs

  Segment Analysis

  • Indian Economy and relation to sales 
  • Historical Sales Trend and Outlook
  • Two Axle and Multi-Axle Sales Analysis, Market Share & Segment movement
  • Rigid Haulage Market size and Segment Analysis
  • Rigid Haulage Sales Analysis & Segment Share
  • Tractor Trailer Sales Analysis & Segment Share
  • Tractor Trailer Market size and Segment Analysis
  • GVW wise Sales and Segment Share Analysis
  • Emission Norms and its impact on Sale and Cost
  • Emission & Technology Roadmap
  • MHCV Demand & Segment Movement Analysis
  • MHCV – Goods & Passenger Vehicle
  • MHCV: Product Analysis: Key Products, Brand presence, Mapping with Market size, Products Features & Technical Specs
  • MHCV Next Five years Trend Forecast
  • LCV Demand & Segment Movement Analysis
  • LCV – Goods & Passenger Vehicle
  • LCV: Product Analysis: Key Products, Brand presence, Mapping with Market size, Products Features & Technical Specs
  • LCV Next Five years Trend Forecast
  • Demand Analysis
  • Overloading Analysis and carrying load habits

Market Drivers

  • Smart Cities Plan
  • Smart City Impact on CV segment
  • Urbanization  – Growth Analysis 2030
  • GDP Growth 
  • GST Impact on Transportation and logistics sector

Customer Voice – Drivers & Fleet Owners

  • Key buying factors – TCO, Price, and Others
  • Fully Built, Cowl & Chassis, Cabin & Chassis
  • Finance option
  • Key financiers and their Market Share
  • Driveline Preference: Engine, and Transmission (AMT)
  • After Sales Support – Spare parts – OE and Local brands
  • Changing needs of Fleet owners – Truck & Bus
  • TCO calculation

OEMs Business Model Analysis

  • OEMs Brand Strategy
  • Technology Changes
  • Management Issues
  • Stakeholders of CV Industry

Product Strategy

  • New Product launch
  • Product upgradation
  • Upcoming Products
  • New Series launch
  • OEM Product investment
  • Telematics Solution

Connected Vehicle Concept

  • Logistics Software Solution and its advantages
  • Available Automotive Software
  • Technology Benefits

Dealership Business Model

  • Revenue Model
  • Margin Analysis
  • Adoption of Digital Strategy
  • Processes and Challenges at the Dealer end
  • Dealer Sales strategy of OEMs

OEM Business Process Analysis

  • New Skills in demand, and Key Human Factors
  • After Market process like refurbished  parts process
  • Soft offerings

OEM Business Review & Strategy

Tata Motors

  • Sales and Market Share Analysis – Truck & Bus segment
  • Product Portfolio – Model, Driveline Analysis, Features, Technical specs and Customer segment
  • Segment presence and mapping with Market size
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • Tata Signa product review
  • Tata Prima case study
  • Production capacity & Utilization
  • Key people
  • Tata Fleet software solution
  • Business Model Analysis
  • Dealer Network

Ashok Leyland

  • Sales and Market Share Analysis – Truck & Bus segment
  • Product Portfolio U Truck, Captain – Model, Features, Driveline AnalysisTechnical specs and Customer segment
  • Segment presence and mapping with Market size
  • ALL DIgital Strategy for selling Vehicle
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • ALL U Truck product review
  • Captain case study
  • Running Projects
  • Production capacity & Utilization
  • Key people
  • Business Model Analysis
  • Dealer Network

Daimler India Commercial Vehicle

  • Company Overview
  • Sales and Market Share Analysis – Truck & Bus segment
  • Product Portfolio Fuso, Mercedes & Bharatbenz Series – Model, Features, Driveline AnalysisTechnical specs and Customer segment
  • Segment presence and mapping with Market size
  • Daimler Digital Strategy for selling Vehicle
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • Tata Signa product review
  • Tata Prima case study
  • Production capacity & Utilization
  • Key people
  • Tata Fleet software solution
  • Business Model Analysis
  • Dealer Network

Volvo Eicher Commercial Vehicles Limited (VECV)

  • Sales and Market Share Analysis – Truck & Bus segment
  • Product Portfolio PRO Series – Model, Features, Driveline AnalysisTechnical specs and Customer segment
  • Segment presence and mapping with Market size
  • Technology advantages from Volvo Group
  • Volvo name help to change the brand position of Eicher
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • PRO series product review
  • Production capacity & Utilization
  • Key people
  • Business Model Analysis
  • Dealer Network

MAN Trucks India

  • Sales and Market Share Analysis – Truck 
  • Product Portfolio CLA Series – Model, Features, Driveline AnalysisTechnical specs and Customer segment
  • Segment presence and mapping with Market size
  • A journey from JV with Force Motors to become independent Subsidiary of MAN SE
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • MAN Product review
  • Production capacity & Utilization
  • Key people
  • Business Model Analysis
  • Dealer Network

Scania India Commercial Vehicles 

  • Sales and Market Share Analysis – Truck & Bus segment
  • Premium Truck and Bus Market size
  • Product Portfolio – Model, Features, Driveline AnalysisTechnical specs and Customer segment
  • Segment presence and mapping with Market size
  • Technology Analysis of Indian Market
  • Pricing Strategy
  • Brand Strategy
  • New segment Entrance Analysis
  • Brand Position and Strategy
  • Future Plans
  • Key people
  • Business Model Analysis
  • Dealer Network

Pricing Trend Analysis of Commercial Vehicle is our exclusive detail Analysis Report. In Our detail analysis, 700 Bus variants and 1,000 Truck variants included. After BS-IV and GST, we have found some specific trend in Commercial vehicle pricing.

Pricing Strategy depends on many factors, Models, Market dynamics, Demand, Technical specs, Driveline, Tyre, Body type, Application of the vehicle and other parameters.

It gives pricing trend of Truck and Bus since 2011 to 2017. 

Pricing Trend Analysis – Truck & Bus Segment

Report Highlights:

  • Product Category (Fully Built & Chassis): Truck and Bus – 1 to more than 49T GVW
  • Popular price bracket with Product features and Technical specs
  • Brand, Model, and Variant wise Analysis – MRP, Discount, Dealer Margin, Govt & Institutional price
  • Segment: Small Commercial Vehicle, Light Commercial Vehicle, Medium Commercial Vehicle, and Heavy Commercial Vehicle
  • Price Bracket Analysis and mapping to Market size & Segment
  • OEMs Pricing strategy
  • Competitive analysis
  • Factors influence the price
  • Sub-segment :
  • Truck: Mini Truck, Pick up Truck, Light Duty Truck, Medium Duty Truck and Heavy Duty Truck,  Rigid Haulage, Tipper, Tractor Trailer, Concrete Mixer, Boom pumps and Special Application
  • Bus: School, Staff, Low Floor, City Bus, Intercity, Luxury, Tarmac, Moffusil, Light Duty Bus, Medium Duty Bus and Heavy Duty Bus
  • Labour Charges: Authorized dealers & Service center
  • Spare parts Price Analysis: Genuine parts price, Non-Genuine (Direct OEM Suppliers) price
  • Spurious parts
  • Secondary market
  • Types of Customer segment, Type of fleet owners, Behaviour & Psychology

OEMs included:

  • BharatBenz
  • Tata Motors
  • Scania India CV
  • MAN
  • Ashok Leyland
  • VECV – Eicher
  • VECV – Volvo
  • Mahindra & Mahindra
  • Force Motors
  • Piaggio
  • SML Isuzu





ACG knowledge center released the latest report on Indian Model wise Truck and Bus Production outlook. This is an exclusive macro level database on Indian Commercial Vehicle Industry. The report is available separately in two parts Truck and Bus segment. The Model wise and Brand wise Sales data are also available along with forecast.

Key highlights of the report: Last 10 years Trend, Short-term outlook & Long-term  outlook

  • Bus and Truck Model wise  Architecture Information
  • Fuel Type Vehicle Analysis
  • Model-wise Vehicle Platform detail
  • Manufacture Program information
  • Segment Information- region wise
  • Vehicle Design Patent 
  • Vehicle Emission standard detail
  • Start and End of Production 
  • Production plant location and Capacity with Model name mapping
  • Truck and Bus Assembly 
  • Engine SOP and EOP of each model & Brand 
  • Engine Power & Torque
  • Engine Manufacturer detail
  • Engine Model name
  • Engine manufacturers plant information
  • Engine Program
  • Valve & Cylinder Information
  • GVW Information 
  • Parent sales Information
  • Cylinder Block Material information
  • Vehicle Engine Displacement Detail
  • Brand-wise Model Name – Production Nameplate

Following OEMs are included in the database: Truck and Bus

  • Daimler India Commercial VehicleTata Motors
  • Tata Motors
  • Scania India CV
  • MAN
  • Ashok Leyland
  • VECV – Eicher
  • VECV – Volvo
  • Mahindra & Mahindra
  • JCBL
  • JBM
  • SML Isuzu

The report and data are useful for Business Planning & Strategy, Production planning, and Investment related decision. Additional information about Company Analysis, Strategy Analysis, Product Strategy, Brand Strategy, Pricing Analysis, Dealer network, Product Application & USP.

Another report like Qualitative Analysis report which is based on primary data collection, State wise detail Truck, and Bus Market Analysis, Descriptive segment wise forecast of Intercity, City, School, Staff, Special Application etc., Segment wise Truck Forecast – Tipper, Rigid Haulage, Tractor Trailer, ODC, Special Application, GVW wise etc. Impact Analysis of Govt policies, Technology, Regulation, Emission norms changes, Market Drivers, Market Dynamics, etc is also available. Macro Economy Analysis, New segment Introduction, Digital Marketing & Adoption of this technology, Quarterly Analysis, Infrastructure Investment, Logistic Sector analysis, Spare parts price, Fleet owner data of Truck and Bus is also available immediately with us.