DECEMBER2025

WORKINGPAPER

?2025INTERNATIONALCOUNCILONCLEANTRANSPORTATION(ID465)

Marketanalysisofmedium-andheavy-dutyvehiclesinIndiaforcalendaryears2021–2024

MoorthyNair,AnirudhNarla

INTRODUCTION

InApril2020,themedium-andheavy-dutyvehicle(MHDV)sectorinIndiatransitioned

toBharatStage(BS)VIemissionnormsalongsidelight-dutyvehicles.ApreviousICCT

publicationexaminedthemarketforfinancialyears2019–20and2020–21(Sathiamoorthyetal.,2021).Thispaperupdatesthisanalysis,coveringcalendaryears2021–2024.

ThefocusoftheanalysisremainsonMHDVs,includingbusesandtrucks(bothrigid

trucksandtractor-trailers).Forthepurposesofthisanalysis,medium-dutyvehicles

(MDVs)aredefinedasthosewithagrossvehicleweight(GVW)between3.5and12

tonnes,whileheavy-dutyvehicles(HDVs)haveaGVWabove12tonnes.Apartfromthedominantdieselmarket,thepaperalsofocusesonsalestrendsofalternatefueltypeslikecompressednaturalgas(CNG)andelectricvehicles(EVs).

ThesalesdatareferencedinthispaperweresourcedfromSegmentYAutomotive

Intelligence.AlthoughthemarketwasstillrecoveringfromtheimpactsoftheCOVID-19pandemicin2021,MHDVsalesneverthelessreboundedfromapproximately171,000

unitsin2020toabout288,500in2021.Thisupwardtrendcontinued,withsales

reachingapproximately419,800in2022,490,000in2023,and488,300in2024.The490,000unitssoldin2023representthehighestannualMHDVsalesrecordedintheIndianmarketsinceatleastfinancialyear2017–2018.

Acknowledgments:TheauthorsthankShiyueMaoandHarsimranKauroftheICCTfortheirreviews.Also,specialthankstoKateBresee,KyleGipson,TomásHusted,andValerieShecklerfortheirassistancewitheditingandpublicationdesign.

communications@

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THEINTERNATIONALCOUNCIL

NCEANTRANSPRTATN

icct

MARKETSHAREOFMHDVSBYMANUFACTURER,BODYSTYLE,ANDGVW

Figure1showsthemarketsharesandtotalsalespermanufacturerfor2021–2024.

Continuingatrendfrom2019and2020,TataMotors,AshokLeyland,andEicher

Motorsconsistentlyaccountedforover80%oftotalMHDVsalesfrom2021to2024,underscoringtheircontinueddominanceinthemarket.TataMotorsmaintainedits

positionasthetop-sellingmanufacturerintheMHDVmarketinall4years.TotalsalesbyTataMotorssurgedby39%in2024comparedwith2021,yetitsmarketshare

graduallydeclinedfrom49%to40%overthesameperiod.

Figure1

Manufacturermarketshareandtotalsales,2021–2024

100%

abymanufacturer

80%

60%

40%

20%

0%

550

6%

4%

16%

7%

8%

16%

24%

7%

4%

2%

2%

6%

5%16%

5%

500

Totalunitsales(thousands)

4%

16%

25%

450

26%

21%

400

350

46%

50%

43%

41%

300

250

2021202220232024

Calendaryear

Manufacturer

Tata

AshokLeylandEicher

BharatBenzMahindra

Others

Totalunitsales

THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

Bycontrast,AshokLeyland,thesecond-largestsellerofMHDVs,experiencedasteadyincreaseinitsmarketsharefrom21%in2021toaroundaquarteroftheMHDVmarketinallsubsequentyears.EicherMotorsmaintainedastableshareof16%between

2021and2024.BharatBenzheldamodestsharerangingbetween4%and5%,while

Mahindrashowedfour-foldgrowth,increasingitssharefrom2%in2021to8%in2024,surpassingBharatBenzbytheendoftheperiod.The“Others”classofmanufacturersincludesForce,SMLIsuzu,VolvoTrucksandVolvoBuses,Scania,andMercedes,

amongothers.

ThetotalsalesofMHDVswitnessedanincreasefromaround288,500unitsin2021

toaround419,800unitsin2022,astarkriseof45%,surpassingthepre-COVIDsalesfigureofaround380,000in2019.In2023,salessurgedby17%toaround490,000

units.In2024,theMHDVmarketexperiencedamarginaldipof0.36%comparedwiththepreviousyear,withsalesslightlydecliningtoabout488,300.Overall,MHDVsalesincreasedby1.7timesoverthe4-yearperiod.

MARKETSHAREBYBODYSTYLE

WecategorizedtheMHDVsegmentbybodystyleintorigidtrucks,buses,andtractor-trailers.Figure2showsthemarketshareandtotalsalesofMHDVsbybodystylefortheselectedperiod.

2ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

3ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Figure2

Marketsharesandsalespermanufacturerbybodystyle,2021–2024

MarketsharebymanufacturerMarketsharebymanufacturer

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Totalunitsales(thousands)Totalunitsales(thousands)

Marketsharebymanufacturer

Rigidtrucks

2%

2%

2%340

2%

2%

5%

2%

10%

4%

5%

19%

26%

17%

28%

18%

22%

51%

47%

2022

43%

2023

2021

5%

5%

19%

24%

40%

2024

320

300

280

260

240

220

200

year

Calendar

Tractor-trailers

1%100

1%

1%

3%

1%

4%5%

4%

5%

90

6%

8%

22%

3%

4%

7%

29%

9%

9%

80

70

28%

26%

60

50

60%

55%

56%

53%

40

30

20

2021202220232024

Calendaryear

Totalunitsales(thousands)

120

100

80

60

40

20

100%

80%

60%

40%

20%

0%

Buses

7%

10%

15%

18%

18%

32%

8%

10%

18%

19%

17%

28%

10%

6%

17%

9%

9%

21%

10%

17%

31%

26%

15%

29%

202120222023Calendaryear

2024

ManufacturerOthers

Mahindra

BharatBenzSMLIsuzu

AshokLeylandEicherMotorsForceMotors

Tatamotors

Totalunitsales

THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

RigidtruckscomprisedthemajorityofMHDVsales,althoughtheirmarketsharehas

declinedovertheyears.In2021,rigidtruckscomprised81%ofMHDVsales,witharound236,000unitssold.Salesincreasedby30%by2022,toaround306,300units,thoughtheirmarketsharedroppedto73%.In2023,salesroseto319,700units,whilemarket

sharefurtherdeclinedto65%.By2024,salesreducedslightlyto309,800,whilethemarketsharedecreasedslightlyto63%.

TataMotorsremainedtheleadingmanufacturerintherigidtrucksegment,witharound127,000unitssoldin2024.However,itsmarketsharedeclinedfrom51%in2021to41%in2024.AshokLeyland,EicherMotors,andBharatBenzmaintainedrelativelystable

marketsharesoverthisperiod,collectivelyaccountingfor45%–50%oftotalsaleswithminimalfluctuation.Bycontrast,Mahindrarecordedsignificantgrowth,increasing

itssalesfrom4,580unitsin2021to30,240unitsin2024—anincreaseof6.6times,accompaniedbyasharpincreaseinmarketsharefrom2%to10%.

Thebussegmentrecordedasubstantialriseinsales,increasingfromaround26,300unitsin2021toaround106,500unitsin2024,anearlyfourfoldgrowth.Annualsalesstoodatabout61,100unitsin2022and90,800unitsin2023,reflectingaconsistentupwardtrajectory.TheMHDVsegmentalsosawasurgeinmarketsharefrom9%

in2021to22%in2024.Thetopfourmanufacturers,TataMotors,AshokLeyland,

EicherMotors,andForceMotors,consistentlyaccountedforover80%oftotalbus

sales.WhileForceMotorsdominatedthebussegmentwitha31%marketsharein

2021,itlatersawasteepdeclinetoa15%marketsharein2024.From2022onwards,TataMotorsledthissegment,accountingforoveronequarterofallsales.Among

otherleadingmanufacturers,AshokLeyland,EicherMotors,andSMLIsuzuobservedsteadygrowthinmarketshare;relativeto2021,AshokLeylandsawafive-fold

4ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

increaseinsalesby2024,EicherMotorsaseven-foldincrease,andSMLIsuzuamorethanseven-foldincrease.

Thetractor-trailersegmentaccountedforabout9%oftotalMHDVsalesin2021at

around26,200units,risingto12%in2022atabout52,400unitsandfurtherto16%

in2023ataround79,500units,beforedroppingto14%in2024atroughly72,000

units—thelatterrepresentinga9.4%year-on-yearreductioninsales.TataMotorsandAshokLeylanddominatedthetractor-trailersegmentduringthisperiod,together

holdingover80%ofthemarketshare.WhileTataMotors’ssalesin2024grew2.5timescomparedwithsalesin2021,itsmarketsharedeclinedfrom60%to55%.Bycontrast,AshokLeylandrecordedamorethanthree-foldincreaseinsalesandariseinmarket

sharefrom22%in2021to29%in2024.Othermanufacturerssharedtheremainingmarket,includingBharatBenz,Mahindra,andEicherMotors,amongothers.

MARKETSHAREBYGVW

Avehicle’sGVWisitstotalweightwhenthevehicleisfullyloaded.ThissectionprovidesinsightsintohowthemarkethasshiftedovertimeintermsofGVW.

AsshowninTable1,theshareofHDVshasbeengraduallydeclining,especiallyinthe

rigidtrucksegment(from57.3%in2021to43.4%in2024).Inthebussegment,the

MDVsharemorethandoubledfrom6.6%in2021to15.0%in2024,indicatingincreaseddemandforsmallerormid-sizedbuses.

Table1

ShareofMDV/HDVcategoriesbybodystyle,2021–2024

Bodystyle

MHDV

category

2021

2022

2023

2024

Rigidtruck

Bus

Tractor-trailer

Overall

MDV

24.4%

17.4%

16.5%

20.0%

HDV

MDV

57.3%

6.6%

55.6%

11.2%

48.8%

13.8%

43.4%

15.0%

HDV

HDV

MDV

2.6%

9.1%

31.0%

3.3%

12.5%

28.6%

4.7%

16.2%

30.3%

6.9%

14.7%

35.0%

HDV

69.0%

71.4%

69.7%

65.0%

AsshowninTable2,comparedwith2021,thelargestvariationinsales-weighted

averageGVWwasseeninthebussegment,whichrecordeda12%increasein2024.

Bycontrast,tractor-trailersremainedlargelystable,whilerigidtrucksexperienced

someyear-to-yearfluctuationsbutended2024withanaverageGVWnearlythe

sameasin2021.Despitetractor-trailersmaintainingastableandheavyaverageGVW,thedipinrigidtruckweightspulleddowntheoverallMHDVaverageGVWto23,817

kgin2024,thelowestsince2021.Thisshiftmayhaveimplicationsforemissions

intensity,energyconsumption,andsegment-specifictechnologydeployment

strategies.Forexample,vehicleswithhigherGVWtendtohavegreaterfueldemand,leadingtoincreasedenergyconsumptionandemissionintensity.Asaresult,costliertechnologiesneedtobedeployedtoreducefuelconsumptiontocomplywithany

fuelconsumptionregulations.

5ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Table2

Sales-weightedaverageGVW(inkilograms)

Bodystyle

2021

2022

2023

2024

Rigidtrucks

22,186

24,664

24,749

22,213

Buses

9,108

8,931

9,497

10,242

Tractor-trailers

50,793

50,859

50,879

50,900

MHDVsoverall

23,591

25,630

26,152

23,817

AshokLeyland,BharatBenz,andTataMotorswerethekeymanufacturers,driving

highersales-weightedaverageGVWforrigidtrucks.Overtheperiodofanalysis,AshokLeylandrangedfrom27.5to30tonnes,BharatBenzrangedfrom23to24.5tonnes,

andTataMotorsincreasedfrom23tonnesin2021toahigherrangeof26–28tonnesinsubsequentyears.WhileEicherMotorsrangedfrom14.5to15.5tonnes,SMLIsuzucenteredaround8.5tonnes.MahindrasawadecliningtrendinaverageGVWfrom

19tonnesin2021to7.5tonnesin2024.Mercedes,Scania,andVolvoTrucks,which

comprisedaround0.4%oftherigidtruckmarketsharein2021–2023andlessthan

0.25%ofthesharein2024,recordedtheheaviestsales-weightedGVW.Mercedes

averaged31tonnes,Scaniarangedfrom31to35tonnes,andVolvoTrucksrangedfrom33to35tonnesovertheperiodofanalysis.

Forthebussegment,duringtheentireperiodofanalysis,AshokLeylandhadasales-weightedaverageGVWrangingfrom14to14.6tonnes.BharatBenzrangedfrom13to14tonnes,EicherandTataMotorsrangedfrom9to10tonnes,whiletherestofthemajormanufacturersinthissegmentwerebelow7.5tonnes.

Inthecaseoftractor-trailers,AshokLeyland,Eicher,andTataMotorshadsales-weightedaverageGVWgreaterthan50tonnes,whilesalesforBharatBenzandMahindraaveragedbelow50tonnes.

Figure3illustratesthedistributionofvehiclesalesbybodystyleacrossdifferentGVWcategories.Theverticalornear-verticalclustersofdatapointsinthechartindicateaconcentrationofsalesatspecificGVWlevels,whichcouldbeattributedtotheGVWlimitsundertheSafeAxleWeightsforTransportVehiclesbyIndia’sMinistryofRoad

TransportandHighways(MoRTH,2018).

Figure3

CumulativemarketshareofMHDVbyGVW

100%

80%

Marketshare

60%

40%

20%

0%

Rigidtrucks

100%

80%

60%

40%

20%

0%

Marketshare

2021

2022

2023

2024

020,00040,00060,00080,000

Grossvehicleweight(kg)

Buses

Marketshare

07,50015,00022,50030,000

Grossvehicleweight(kg)

Tractor-trailers

100%

80%

60%

40%

20%

0%

30,00037,50045,00052,50060,000

Grossvehicleweight(kg)

THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

6ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Forrigidtrucks,therewasanoticeableshifttowardhigherGVWsin2022and2023comparedwith2021and2024.Keyconcentrationsinclude15%ofsalesat28tonnes,8%at35tonnes,5%at42tonnes,and10%at47.5tonnes.Salesinthe18.5-tonne

categoryrosesignificantlyfrom10%to17%overtheyears.Overall,50%ofrigidtrucksaleswereoftruckswithaGVWbelow20tonnes.

In2021,14%ofbussaleswereconcentratedat4.3tonnes,butby2024,thisfigurehaddroppedto5%.Thesub-7.5-tonnesegmentdeclinedfrom48%in2021to36%in2024.Acrossallyearsanalyzed,nearlythree-quartersofbussalesfellbelowthe12-tonne

category,while17%–20%ofsaleswereclusteredaround16.2tonnes.

Fortractor-trailers,thenumbersremainednearlythesameduringthisperiod.

Approximately10%ofsaleswereconcentratedat39.5tonnes,andaround75%oftotalsaleswerefocusedwithinthe52–55tonneGVWrange.

Figure4presentsthemarketshareofleadingmanufacturersacrossvehicletypesandGVWcategories.TataMotorsandAshokLeylandhadthewidestpresence,offering

productsinnineoutof10categories.EicherMotorsandMahindrawerepresentinsevencategoriesandsixcategories,respectively.Thetopfivehighest-sellingmanufacturersallofferedvehiclesinatleastsixofthe10categories.

Figure4

ManufacturermarketsharebybodystyleandGVW

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

57

52

47

42

37

32

Trucks(3.5–7.5t)

20212023

20222024Trucks(>40t)

20212023

20222024

137

121

105

89

74

58

Totalunitsales(thousands)Totalunitsales(thousands)

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Trucks(7.5–12t)

20212023

20222024Buses(3.5–7.5t)

20212023

20222024

41

40

40

39

38

38

36

31

26

21

17

12

Totalunitsales(thousands)Totalunitsales(thousands)

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Trucks(12–20t)

20212023

20222024Buses(7.5–12t)

20212023

20222024

84

80

77

73

70

66

38

31

25

19

13

7

Totalunitsales(thousands)Totalunitsales(thousands)

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Trucks(20–30t)

20212023

20222024Buses(12–20t)

20212023

20222024

69

64

59

54

49

45

33

28

22

17

12

7

Totalunitsales(thousands)Totalunitsales(thousands)

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Trucks(30–40t)

20212023

20222024Buses(20-30t)

20212023

20222024

35

33

30

28

25

23

0

0

0

0

0

0

Totalunitsales(thousands)Totalunitsales(thousands)

TataMotors

ForceMotors

EicherMotorsJBM

SMLIsuzu

VolvoTrucks

Mahindra

VolvoBuses

AshokLeylandMercedes

BharatBenzOthers

Sales

Note:“Trucks”hererefersbothtorigidtrucksandtractor-trailers.

THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

MARKETSHAREBYPOWERTRAIN

DieselpowertrainsdominatedtheMHDVsegmentthroughouttheperiodanalyzed,consistentlyexceedinga90%marketshare.Dieselvehiclesalesroseby74%,fromabout262,000unitsin2021toabout457,000unitsin2024.Figure5showsthe

marketdistributionbypowertrain.ThemarketshareforCNGvehiclesfellfrom8.6%

7ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

in2021to5.1%in2024,althoughannualsalesroseby40%fromaround25,000unitsin2021toabout35,000unitsin2022beforedecliningagaintonear-2021levels.

Electricpowertrainsremainedmarginalbutincreasedinsharefrom0.4%to1%duringthesameperiod.

Figure5

MarketsharebypowertrainfortheMHDVsegment

Powertrainshare

Powertrainshare

Powertrainshare

Powertrainshare

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

MHDVRigidtrucksBusesTractor-trailers

2021202220232024Calendaryear

2021202220232024Calendaryear

2021202220232024Calendaryear

2021202220232024

Calendaryear

DieselCNGElectricOthers

Note:The“Others”categoryincludesliquifiednaturalgas(LNG),hydrogen,andhybrid(diesel/electric)vehicles.THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

Dieselremainedthepredominantpowertrainacrossrigidtrucks,buses,andtractor-trailers.In2021,dieselaccountedforupto90%ofrigidtruckandbussalesand100%oftractor-trailersales.From2021to2024,dieselsalesgrewby1.4timesforrigid

trucks,3.9timesforbuses,and2.7timesfortractor-trailers.However,diesel’ssharedeclinedinbuses,droppedslightlyfortractor-trailers,androseforrigidtrucks.

CNG-poweredrigidtruckssawamarketsharedropfrom10%to5.3%,withsales

decliningby30%(fromaround23,700toaround16,600units).Enteringthemarket

in2024wereliquefiednaturalgas(LNG;13units),electric(119units),andhydrogen

(15units)trucks.Amongbuses,CNGsalesgrewfromabout1,250unitsin2021to

about8,650unitsin2024,withthispowertrain’smarketsharerisingfrom4.7%to

8.1%.Electricbussalesgrew3.5timesfrom1,254units,althoughtheirmarketshare

remainedsteadyaround4%.Additionally,52hybridbusesand18hydrogenbusesweresoldin2024.

Inthetractor-trailersegment,EVsalesdroppedfrom300to194unitsbetween2023and2024,whileLNGtractor-trailersgrewfrom255to352unitsduringthesameperiod.

Figure6illustratesthedistributionofpowertrainsalesacrossmajormanufacturersintheMHDVsegment.DieselvehiclesaleshaverisensteadilyovertheyearsamongkeymanufacturerslikeTata,Eicher,andSMLIsuzu,whileCNGsaleshavedeclined.Bycontrast,manufacturerssuchasForceandAshokLeylandrecordedadecreaseindieselsalesandamodestincreaseinCNGsales,reachingnearly3%in2024.

BharatBenzandMahindra,meanwhile,maintainedanalmostexclusiverelianceondiesel,with100%oftheirsalesbeingdieselvehicles.

8ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Figure6

PowertraindistributionofMHDVsalesbymanufacturer

100%

asag

80%

60%

40%

20%

0%

Tata

AshokLeyland

Eicher

BharatBenz

Mahindra

SMLIsuzu

Force

20212023

20222024

20212023

20222024

20212023

20222024

20212023

20222024

20212023

20222024

20212023

20222024

20212023

20222024

DieselCNGElectricOthers

THEINTERNATIONALCOUNCILONCLEANTRANSPORTATIONTHEICCT.ORG

TOP-SELLINGMODELSANDAVAILABILITY

ModelavailabilityforMHDVsinIndiasteadilydiversifiedbetween2021and2024,

reflectingthegradualbroadeningoftechnologyandfuelofferingsinthesegment.

Thecombinednumberofmodelsandtheirvariantsincreasedfrom327in2021to511in2024,indicatinggrowingmanufacturerparticipationandproductdifferentiationacrossweightcategoriesandapplications(Table3).

Table3

Numberofavailablemodels,2021–2024

Powertrain

2021

2022

2023

2024

Diesel

283

288

352

388

CNG

31

48

57

57

Batteryelectric

13

29

45

55

LNG

0

1

4

8

H2-FCEa

0

0

0

2

H2-ICEb

0

0

0

1

Note:Thenumbersinthistablerepresentthenumberofmodels(andtheirvariants)eachyearwithatleastonesale.

aH2-FCE=Hydrogenfuel-cellelectric

bH2-ICE=Hydrogeninternalcombustionengine

Whiledieselmodelscontinuedtodominatetheportfolioin2024,accountingforabout75%ofallmodel-variantcombinations,theirsharedeclinedfromaround87%in2021.Thenumberofelectricmodelsandtheirvariantsgrewmorethanfour-fold,from13in2021to55in2024,consistingof43configurationsforbuses,9forrigidtruck,and3

fortractor-trailer,likelydrivenbyurbanbusprocurement,policymandates,andearlyfleetelectrification.CNGmodel-variantavailabilityexpandedthrough2023,reaching57,andremainedatthesamelevelin2024.Importantly,2024markedthedebutof

hydrogen-poweredMHDVs,withtwohydrogenfuelcell(H2-FCE)modelsandonehydrogeninternalcombustionengine(H2-ICE)model.

9ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Table4highlightsthetopfivemodelsinthetruck(rigidtruckandtractor-trailer)and

bussegments,withcolorcodingindicatingtheirmarketshare.TataMotorsledthetrucksegmentinfiscalyears2019and2020(Sathiamoorthyetal.,2021),butrecentyears

sawgreatermanufacturerdiversity.TataMotors,AshokLeyland,andEicherMotorshadtop-sellingmodelsacrossalltrucksegments.Mahindraledthe3.5–7.5tonnecategoryin2023and2024,theonlysegmentwhereitrankedinthetopfive,whilethetopmodel’smarketshareinthiscategorydoubledoverthisperiod.EicherProconsistentlytoppedthe7.5–12tonnesegment,witha20%shareinboth2021and2024.AshokLeylandled

the20–30tonnesegmentintopfivesales,followedbyTataMotors.TheAshokLeyland3520remainedthetopsellingvehicleinthe30–40tonnesegmentfrom2021to2024,whileTataMotorsmadeuptherestofthetopfive.Inthe>40tonnesegment,Tata

Motorsledthetopfivesales,followedbyAshokLeyland.Overall,inthe20–40tonnerange,thetopmodelsheldroughly25%ofthemarketshare.

Inthebussegment,theForceTravellerdominatedthe3.5–7.5tonnesegmentin3

ofthe4years,thoughitsmarketsharenearlyhalvedby2024.Eicher’s2000Series

overtookTataStarbusin2022inthe7.5–12tonnecategory,maintainingasteady20%sharethrough2024.AshokLeyland’sVikingledthe12–20tonnecategorystartingin2022,withitsmarketsharedoublingby2024.Inthe20–30tonnesegment,VolvoandMercedestogethercaptured100%ofthemarket.

10ICCTWORKINGPAPER|MARKETANALYSISOFMEDIUM-ANDHEAVY-DUTYVEHICLESININDIAFORYEARS2021-2024

Table4

Topfivesellingmodelspersegment

Segment

2021

2022

2023

2024

Trucks

(3.5–7.5t)

1.Tata407Gold

2.Tata710

3.EicherPro2059XP

1.EicherPro2055

2.Tata610

1.Tata407Gold

2.Tata710

3.EicherPro2059XP

4.Tata610

5.EicherPro2055

1.MahindraJayo

2.EicherPro2055

3.Tata610

4.EicherPro2059XP

5.Tata710

1.MahindraJayo

2.EicherPro2055

3.Tata610

4.EicherPro2059XP

5.Tata710

Trucks

(7.5–12t)

1.EicherPro2095XP

2.Tata1109

3.Tata1112

4.EicherPro2110

5.Tata1212

1.EicherPro2095XP

2.Tata1109

3.Tata1112

4.EicherPro2110

5.Tata912

1.EicherPro2095XP

2.Tata1112

3.Tata1109

4.EicherPro2110

5.Tata912

1.EicherPro2095XP

2.Tata1112

3.EicherPro2110

4.Tata1109

5.Tata912

Trucks

(12–20t)

1.Tata1918

2.AshokLeylandeComet1615HE

3.Tata1512

4.EicherPro2114XP

5.Tata1412

1.Tata1512

2.AshokLeylandeComet1615HE

3.Tata1918

4.EicherPro3019

5.EicherPro2114XP

1.Tata1918

2.EicherPro3019

3.TataSigna1923.K

4.EicherPro2114XP

5.EicherPro6019

1.Tata1918

2.EicherPro3019

3.EicherPro6019

4.AshokLeylandeComet1615HE

5.EicherPro6019T

Trucks

(20–30t)

1.TataPrima2825.K

2.AshokLeyland2825

3.AshokLeyland2620

4.AshokLeyland2820

5.TataLPT2818

1.TataPrima2825.K

2.AshokLeyland2620

3.AshokLeyland2825

4.AshokLeyland2820

5.TataLPT2818

1.AshokLeyland2620

2.TataPrima2825.K

3.AshokLeyland2825

4.AshokLeyland2820

5.TataLPT2818

1.AshokLeyland2620

2.TataPrima2825.K

3.AshokLeyland2825

4.AshokLeyland2820

5.TataPrima2830.K

Trucks

(30–40t)

1.AshokLeyland3520

2.TataLPT3525

3.TataSigna3518

4.TataLPT3523

5.TataSigna4018.S

1.AshokLeyland3520

2.TataLPT3525

3.TataSigna4018.S

4.TataSigna3518

5.TataLPT3523

1.AshokLeyland3520

2.TataLPT3525

3.TataLPT3523

4.TataSigna4018.S

5.TataSigna3523.K

1.AshokLeyland3520

2.TataLPT3525

3.TataLPT3523

4.TataSigna4018.S

5.TataSigna3523.K

Trucks

(>40t)

1.TataSigna5530.S

2.TataSigna4225

3.TataPrima4825.TK

4.AshokLeyland4825

5.TataSigna4825

1.AshokLeyland4825

2.TataSigna5530.S

3.TataSigna4925

4.AshokLeyland5225

5.TataSigna5525.S

1.TataSigna5525.S

2.AshokLeyland4825

3.TataSigna5530.S

4.AshokLeyland5225

5.TataSigna4925

1.TataSigna5525.S

2.TataSigna5530.S

3.AshokLeyland5225

4.AshokLeyland4825

5.TataSigna4825

Buses

(3.5–7.5t)

1.ForceTraveller3700

2.ForceTraveller4020

3.ForceTraveller3050

4.TataStarbus

5.TataCityride

1.TataCityride

2.ForceTraveller3700

3.TataStarbus

4.SMLIsuzuPrestige

5.ForceTraveller3050

1.ForceTraveller3700

2.TataStarbusEX

3.SMLIsuzuPrestige

4.TataStarbus

5.ForceTraveller4020

1.ForceTraveller37002.SMLIsuzuPrestige

3.ForceTraveller4020

4.TataStarbusEX

5.ForceTraveller26

Buses

(7.5–12t)

1.TataStarbusEX

2.Eicher2000Series

3.BharatBenzStaffBus

4.AshokLeylandSunshine

5.TataStarbusUltra

1.Eicher2000Series

2.TataStarbusEX

3.SMLI