CV industry bottoms out in Covid 19-hit March; FY2020 numbers slide 27%

The global automotive industry is witnessing one of the most challenging periods on the back of the ongoing Covid-19 pandemic. For the Indian automobile industry, the situation has been worsening with each passing month and, most probably, will result in one of the worst fiscal year performances.

The commercial vehicle segment is known to be the barometer of a country’s economic progress and therefore it comes as no surprise that the last month of FY2020 has seen one of the biggest sales declines in recent times.

The CV segment has been hit with a number of growth-impacting factors such ...