India commercial vehicle exports hit a new high in FY2017

Despite headwinds in the domestic market, the commercial vehicle (CV) industry has seen gains in the export market. Exports, which constitute a buffer to slow domestic market demand, have seen CV manufacturers expand into newer markets in Africa and the Middle East besides the traditional markets of SAARC countries.

In FY2016-17, total CV exports remained above the 100,000 units mark at 108,271 units (2015-16: 101,689). LCVs were the prime overseas shipments at 64,552 units (2015-16: 43,719).

CV market leader Tata Motors remains the largest exporter, shipping 59,819 units in FY2017 (2015-16: 53,704), growing 11.39%. Of this number, LCVs ...