Indian CV sector posts muted sales in FY2016-17

As commercial vehicle OEMs declare their results for March 2017, it is amply clear that the sector will have closed the just-ended fiscal year 2016-17 with muted sales numbers. Sales results of four leading OEMs reveals a 3.4 percent YoY growth. 

While the CV industry was motoring along quite smoothly thanks to replacement-led demand till end-October 2016 with total sales of 399,000 unit and YoY growth of nearly 7 percent, it was buffeted strongly by the wind of demonetisation and more recently by the mandatory shift to BS IV. CV players also saw sales slow down as buyers delayed their ...