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.

Indian Used Truck Market Data covered the following points:

Period: FY 2019 to FY 2025 actual, Forecast Period FY 2026 to FY 2030

Market Size (Volume in Units and value in USD Billion): of each segment and each life cycle

1. Truck Segment covered: 

• Mini Truck,
• Pick Up Truck,
• Light Duty Truck,
• Medium Duty Truck
• Tipper,
• Multi-Axle Truck
• Tractor Trailer

2. Life Cycle of Trucks:

• First life,
• Second life, and
• Third life

3. Used Truck Business Models

• Various Business Models, Description, Benefits,s and Challenges

4. Trend:

• Future Trend of the Used Truck Market

5. Market Segmentation:

• Major Used Truck Market segmentation and its market share

6. Competitive Landscape

7. Price Trend:

• Average Selling Price of Each Truck Segment in First, Second, and Third Life Cycle

8. Used Truck Demand Influencers

9. Truck Buying  Pattern Data based on Fleet Size:

• Single Owner
• Small Fleet Size
• Mid Size
• Large Fleet Owner
• Very large Fleet Owner

10. The Indian Used Truck Market Report

The two versions of the market information available are Used Truck Data and Used Truck Market Report

The post Indian Used Truck Market Data appeared first on Autobei Consulting Group.

Due to COVID, Truck sales significantly declined from 645,642 units in FY 2020 to 557,120 units in FY 2021. The market stabilized in FY 2024.

Market Share based on Different Drivetrains and Forecast 2030:

Diesel-powered trucks dominate the market with an 85% market share. There will be a decline in this market share. CNG, Electric, and LNG will increase their market share by FY 2030. Other categories are also expected to grow significantly in the next 5 years.

Fleet owners are getting better TCO in alternative-fuel trucks, which is the key reason for shifting from diesel to alternative-fuel trucks.

Competitive landscape:

Tata Motors is the market leader with a 39% market share, but it lost 4% compared to FY 2020. Ashok Leyland and Eicher successfully increased their market share by launching New truck Models. Rigid Haulage, tractor-trailers, and Tippers are designed for high-growth applications. These include e-commerce, parcel delivery, construction, and mining operations. Ashok Leyland has concentrated on the MAV segment. Eicher, meanwhile, has shifted its focus to the heavy-duty tipper market, which is outside of its traditional segment.

BharatBenz’s market share in the Indian truck industry reached 2.1% in FY 2024. DICV has a good hold in the heavy-duty Tipper segment.

Eicher achieved a notable % Compound Annual Growth Rate (CAGR) of 16% between FY 2020 and FY 2024.

Maruti Suzuki and Mahindra could gain only 1% market share in the last five years.

Tata Motors has a strong presence across nearly all Truck segments, including Mini Trucks, Pick-Up Trucks, light-duty trucks (LDT), ICV, MCV, MAV, Tipper, and tractor-trailer, reflecting its rich product portfolio. Ashok Leyland will align with the ICV, MAV, MCV, and Heavy segments like Tippers and tractor-trailers. Eicher strongly focuses on the LDT, ICV, and MCV segments.

Our Application and model-wise truck database provides distribution in India based on different brands and model levels.

Willingness to Pay for Trucks: Comparison among different brands:

ACG recently surveyed truck fleet owners across major cities like Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Bhopal, Indore, Ahmedabad, Kota, Jaipur, Nagpur, Chandigarh, Lucknow, Patna, Raipur, Vadodara, Mysore, and other large and small cities to understand customer sentiment regarding their willingness to pay for various Truck Models. The results indicate that willingness to pay varies significantly based on the type of truck application and the profile of the fleet owners.

For Tata Motors, there is a strong willingness to pay across 65% of its product range in various segments. Mahindra is highly willing to pay for its pickup trucks, while Maruti performs well in the mini truck segment. Eicher has strong demand in the MCV, ICV, and LDT categories, and BharatBenz shows a high willingness to pay for its tipper models. Similarly, Mahindra also registers a high willingness to pay for its mini trucks, pickups, and light-duty trucks.

Mini and Pick-Up Trucks Dominate with Over 50% Market Share:

Mini and Pickup trucks are the largest Truck segment in terms of units in the Indian market. MAV segment share increased from 8% to 10% from FY 2020 to FY 2024.

Product Strategies for Truck OEMs to Boost Revenue and Profit:

Truck OEMs should offer five types of Specs and features in the Truck:

• Must Haves
• Attractive
• One Dimensional
• Indifferent, and
• Reverse

If the OEMs add features and options in an attractive space, profit and revenue will also increase proportionally.

Indian Truck Market report provides key insights about each point to increase OEMs’ revenue and profit. Adding new features is essential, but excluding some is vital to reducing costs.

Truck specs and pricing changes in the last ten years:

There have been drastic price changes along with product specs and features. For example, the Tata 1109’s price was around 1 M INR in 2011 with an 8,955 payload. Currently, its average price is 2M INR. It has just doubled in the last 14 years. The engine’s horsepower was 90 hp, but it has now been upgraded to 160 hp. This is based on our Indian Truck Price strategy report, which was published in 2011.

Earlier, a maximum of trucks were available up to 31T GVW in the rigid haulage and tipper segment. Now, the GVW of the truck is available up to 47.5 T. This gives better TCO for fleet owners. The truck’s average speed was 35 to 40 km per hour in 2011. This is because 180 hp trucks dominated the market and had poor road infrastructure. Now, 200 to 250 hp trucks dominate India with at least basic ADAS features.

MAN Truck was India’s first OEM to introduce 220 and 280-hp trucks. Tata launched the Prima range with a high horsepower of 280 hp, especially in the Tipper segment.

Please contact us for a Full Report and Table of Contents.

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