TNI || New Delhi || 8th Nov 2021
The ongoing economic rebuilding in India is all set to get a further push as commercial vehicles volumes are all set to pick up.
With the ease in restrictions by multiple state governments as far as the movement of goods is concerned and with the core infrastructure sector continuing to remain positive, commercial vehicles sales are expected to see a consistent surge in the months to come.
As per Suman Chowdhary, Chief Analytical Officer of Acuite Ratings and Research, the domestic sales of Ashok Leyland, Tata Motors, and VECV, all put together have witnessed a 7.5% growth in September vis-a-vis the corresponding period last year.
That said, the domestic sales of Mahindra & Mahindra have declined by 26.8% due to the supply challenges.
If we look into the sequential basis, the total sales of all the four automobiles giants have seen a growth of 14% month-on-month in October 2021 as against September 2021.
As per the research organisation, the growth in the commercial vehicle industry is due to a healthy recovery in the market shown by Ashok Leyland and Tata Motors, who have recorded 3.2% and 23% year-on-year growth, respectively.
Chowdhary adds that because of the industrial activity and growth momentum seen in both the private and public sectors, the demand for CV’s will continue to rise.