Indian M&HCV bus market accelerating to 70,000 units
As per a Skoda business review, the Indian M&HCV (more than 7.5T GVW) bus market will accelerate from 40,000 units in 2015 to around 70,000 units by 2020. With its luxury bus segment having grown fastest over 2014 and 2015, India is predicted to be one of the key markets for European and Indian OEMS. Its lowcost segment is expected to gradually shift to the budget segment through 2016-2020. By 2018, the Indian market will witness bus price increase (3-4%) as well as increase in commodity price, material and promotional costs (2-5%) and significant fluctuations in material cost and other incidental expenses. ‘Go green’ bus technology will play an important role driven by future market trend. With bus transportation rapidly becoming the backbone of public transport in India, bus sales will increase and exports estimated to zoom beyond the 71% export figures recorded in 2014.