Digital Twins (DTs) and Cyber-Physical Systems (CPSs) have the potential to play a crucial role in creating intelligent, connected, and efficient commercial vehicles (buses and trucks). A systematic literature review was conducted to analyze this area's current state of knowledge. The results of the review point to successful cases of using these technological solutions in this area. However, it also points to the need for a clear consensus regarding the definition of DT and CPS, generating conceptual challenges. Furthermore, the analysis reveals that most studies consider only one perspective concerning physical assets in DTs and CPSs, indicating the need to explore multiple dimensions of these assets. This study also emphasizes the potential of Industry 4.0 (I4.0) and its standards as possible solutions to address the identified gaps. The pursuit of integration and interoperability is highlighted as a promising direction to advance the representation and effective use of physical assets. This work provides a comprehensive overview of the opportunities and challenges related to DTs and CPSs in commercial vehicles, highlighting the continued need for research and development in this evolving field.