Global Light and Medium Commercial Vehicle Market 2019-2023

Global Light and Medium Commercial Vehicle Industry Overview

Earlier, the penetration of pick-up trucks in the LCV markets in emerging countries like China and India was low, due to poor acceptance of their design among the end-users and high fuel consumption. High-powered engines of pick-up trucks produce considerable amounts of emissions; hence, countries like China banned the sales of pick-up trucks in the early 2000s. Nevertheless, China removed the ban on sales of pick-up trucks in 2016. This, in turn, increased exports of pick-up trucks to China. For example, post the removal of ban on sales of pick-up trucks in China, General Motors started exporting Silverado and Colorado pick-up trucks to China in 2017. Isuzu D-Max is the first pick-up truck to be launched in India in 2016. The vehicle is equipped with a 2.5 liter four-cylinder turbocharged diesel engine. Other pick-up trucks launched in India were Mahindra Bolero Camper, Tata Xenon XT, Mahindra Scorpio Getaway, and Mahindra Imperio. Thus, the increasing penetration of the pick-up trucks in emerging countries such as China and India will drive the global light and medium commercial vehicle market growth during the forecast period.

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