Considered as one of the largest truck markets in the world, the market dynamics of the Indian truck market is markedly different from triad markets. Companies like Daimler, MAN and Scania have understood the market and their product strengths and have considered their product segments accordingly. In contrast, Tata Motors and Ashok Leyland concentrate on improvement and upgradation of existing products to sustain their stand in the premium market segment. However, a technological gap exists between Indian and European Companies. This is clearly seen in the horse power driven European vehicles, giving rise to increased material transportation and better economy of trucks as compared to their Indian counterparts. This directly impacts customer attraction and sales network.
The main problems which are observed with the Indian truck industry range from Compartmentalised Product Drive Line, Product support, price range and Customer Behaviour. It has also seriously attributed it's drawbacks to competitive challenges and vehicle economy.
The following are the key issues for Indian Truck Industry:- Segment wise Product Drive line
- Product Support
- Price bracket or range for each product
- Customer behavior
- Competitive Challenges
- Vehicle Economy
We forecast key parameters which will play important role in coming up years:
By the year 2020, the budget segment will be India's largest and most attractive one. One very crucial example here would be that of AMW. It is considered a good product inspite of it's financial crisis. This problem is so stark that there are orders pending due to inavailability. On the other hand, Tata motor's showcases it's refreshing K, SK series stealthily entering the premium market with it's Prima Truck. The high horse power engine driven Prima trucks had to be lowered to keep up with requirements. Ashok Leyland on the other hand is characterised by Product drive line and impeccable strategy and has introduced the U truck idea.
MAN Truck India's strategy lies in the introduction of budget trucks. Eicher is looking to enter the light commercial vehicle (LCV) segment. It's pro series has been greatly welcomed by customers.
By the year 2020, the budget segment will be India's largest and most attractive one. One very crucial example here would be that of AMW. It is considered a good product inspite of it's financial crisis. This problem is so stark that there are orders pending due to inavailability. On the other hand, Tata motor's showcases it's refreshing K, SK series stealthily entering the premium market with it's Prima Truck. The high horse power engine driven Prima trucks had to be lowered to keep up with requirements. Ashok Leyland on the other hand is characterised by Product drive line and impeccable strategy and has introduced the U truck idea.
MAN Truck India's strategy lies in the introduction of budget trucks. Eicher is looking to enter the light commercial vehicle (LCV) segment. It's pro series has been greatly welcomed by customers.
But its mileage is less compare to its VE traditional series. Customers would also face after sales issue due to upgraded technology in Pro Series.
Tata and Ashok Leyland are holding around 80% market share in M&HCV segment and in LCV segment Tata and Mahindra & Mahindra holds around 88% market share. Other players like VECV, Eicher, SML Isuzu, Isuzu,Force Motors, Piaggio, AMW having specific products in a particular segment.
Overall, the average price of trucks has seen a tremendous increase from 1% to 2% in the interval from 2013 to 2015. ACG is having Exclusive Report on Truck pricing trend analysis with more than 1,000 Truck variants.
Source: ACG
Total Slides: 100
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