Indian CV makers post export gains in current fiscal
Despite two years of a prolonged downturn in the domestic commercial vehicle (CV) market, exports have helped soften the blow for some of the key players in the last 11 months of the ongoing fiscal year.
20 Mar 2015
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Indian CV players' foreign shipments have risen 12.37% to 76,599 units in the current fiscal.
Even as the sales tide is turning positive for the medium and heavy commercial vehicle (M&HCV) sector in the domestic market, exports of commercial vehicles have helped soften the impact of the prolonged two-year slowdown for some of the key OEMs in India. In the past 11 months of the ongoing fiscal year (April 2014-February 2015), leading manufacturers like Ashok Leyland, Tata Motors and VE Commercial Vehicles have recorded exportt-led gains.
The latest figures from industry body SIAM reveal that the Indian CV industry exported a total of 76,599 vehicles and posted a 12.37 percent year-on-year increase.
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