Analyzing Vehicle Sales Data for Future Prediction

The question asks us to predict the number of Heavy Commercial Vehicles (HCVs) expected to be sold in 2022. The prediction is based on the assumption that the percentage increase in HCV sales from 2021 to 2022 will be the same as the percentage increase observed from 2020 to 2021. We need to use the provided table data to perform this calculation.

Extracting Relevant HCV Sales Data

First, let's look at the sales data for HCVs in the years 2020 and 2021 from the given table:

The sales figures are in thousands.

• HCV sales in 2020 = 162 thousand
• HCV sales in 2021 = 214 thousand

Calculating Percentage Increase in HCV Sales (2020 to 2021)

To find the percentage increase, we first calculate the absolute increase in sales from 2020 to 2021.

Increase in sales = Sales in 2021 - Sales in 2020

\(\text{Increase} = 214 - 162 = 52 \text{ thousand}\)

Now, we calculate the percentage increase relative to the sales in the starting year (2020):

\(\text{Percentage Increase} = \left( \frac{\text{Increase}}{\text{Sales in 2020}} \right) \times 100\)

\(\text{Percentage Increase} = \left( \frac{52}{162} \right) \times 100\)

\(\text{Percentage Increase} = \left( \frac{26}{81} \right) \times 100\)

Predicting HCV Sales in 2022

The question states that the percentage increase in the sale of HCVs in 2022 over 2021 is expected to be the same as the percentage increase in 2021 over 2020.

Let \(S_{2022}\) be the expected HCV sales in 2022.

The increase from 2021 to 2022 will be \(S_{2022} - 214\).

The percentage increase from 2021 to 2022 is \(\left( \frac{S_{2022} - 214}{214} \right) \times 100\).

Setting the percentage increases equal:

\(\left( \frac{S_{2022} - 214}{214} \right) \times 100 = \left( \frac{52}{162} \right) \times 100\)

We can cancel out the 100 from both sides:

\(\frac{S_{2022} - 214}{214} = \frac{52}{162}\)

Now, solve for \(S_{2022}\):

\(S_{2022} - 214 = 214 \times \frac{52}{162}\)

\(S_{2022} - 214 = 214 \times \frac{26}{81}\)

\(S_{2022} = 214 + 214 \times \frac{26}{81}\)

\(S_{2022} = 214 \times \left( 1 + \frac{26}{81} \right)\)

\(S_{2022} = 214 \times \left( \frac{81+26}{81} \right)\)

\(S_{2022} = 214 \times \frac{107}{81}\)

Calculating the value:

\(S_{2022} = \frac{214 \times 107}{81} = \frac{22900}{81}\)

\(S_{2022} \approx 282.716\)

Approximating the Result

The question asks for the approximate number of HCVs (in thousands) that will be sold in 2022. Our calculated value is approximately 282.716 thousand. Looking at the options, the closest value to 282.716 is 282.

Therefore, approximately 282 thousand HCVs will be sold in 2022.

Summary of Calculation Steps

1. Identified HCV sales for 2020 (162) and 2021 (214).
2. Calculated the absolute increase: \(214 - 162 = 52\).
3. Calculated the percentage increase from 2020 to 2021: \(\frac{52}{162}\).
4. Used this same percentage increase to calculate the expected sales increase from 2021 to 2022.
5. Calculated the expected sales in 2022: \(214 + 214 \times \frac{52}{162} \approx 282.716\).
6. Approximated the result to the nearest option, which is 282.

Revision Table: Vehicle Sales Analysis

Additional Information: Understanding Vehicle Categories and Sales Trends

The table categorizes vehicles into HCV, LCV, Car, Jeep, and Two-Wheeler. Each category represents different market segments and might show different growth trends over time. Understanding these categories helps in analyzing the overall health of the automobile industry and predicting future demand.

• HCV (Heavy Commercial Vehicle): Includes large trucks, buses, etc., primarily used for logistics, transportation, and passenger services. Sales trends often reflect economic activity and infrastructure development.
• LCV (Light Commercial Vehicle): Includes smaller trucks, vans, etc., used for local deliveries, goods transport, and utility purposes. Their sales also indicate economic activity, particularly in small and medium enterprises.
• Car & Jeep: Represent passenger vehicle segments. Sales trends are influenced by consumer disposable income, financing options, fuel prices, and new model launches.
• Two-Wheeler: Includes motorcycles and scooters, popular for personal transport, especially in urban areas and developing economies. Sales are influenced by fuel efficiency, affordability, and traffic conditions.

Analyzing year-on-year percentage changes for each category provides insights into which segments are growing or declining. Consistent growth rates, as assumed for HCVs in this problem, are often used as a simple forecasting method, though real-world predictions use more complex models considering various economic factors.