Domestic CV industry likely to grow by 6-7% in FY2018: ICRA
Pent-up demand after GST, replacement cycle in CVs and healthy demand for HCVs to drive sales. Bus sector though will likely fall by 10-12 percent due to fewer orders from SRTUs, which account for 30-35 percent of sales.
5122 Views
Domestic commercial vehicle (CV) sales seem to be back on track since July 2017, driven by pent-up demand after GST kicked in on July 1, healthy replacement-led demand especially in the tractor-trailer segment owing to stricter implementation of CMVR regulations and pick-up in construction and mining activity, driving demand for tipper trucks.
Industry volumes prior to July had remained tepid during Q1 FY 2018 due to pre-buying in Q4 FY 2017 and fleet operators deferring new vehicle purchases in view of incoming GST regulation from July 2017. As a result, domestic CV sales contracted by 9.1 percent during Q1 ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
RELATED ARTICLES
TVS increases scooter market share to 24% with half-a-million units in April-August
Autocar Pro News Desk
17 Jan 2023
With 523,458 units, TVS Motor Co records best-ever scooter sales in the first 5 months of a fiscal and also substantiall...
Maruti Suzuki strengthens its grip on car exports in H1 FY2023
Autocar Pro News Desk
10 Jan 2023
Having shipped 131,070 units in April-September 2022, Maruti Suzuki India accounts for 41% of total made-in-India vehicl...
Tata Motors No. 1 CV OEM in H1 FY2023 but loses market share in 3 sub-segments
Ajit Dalvi
10 Jan 2023
India’s commercial vehicle market is back in growth mode. While M&HCVs are up 88%, LCV demand has grown by 59%. An in-de...
