CV sales seen picking up in second half with heavy trucks leading the way
Heavy duty trucks of 18.5 tonne and more capacity are expected to drive the sales revival, they said.
“When recovery happens, it will start from heavy duty trucks, because they were majorly impacted the last two years,” said Vinod Aggarwal, managing director at VE Commercial Vehicles (VECV).
Even though the commercial vehicle manufacturers may not be able to recover fully the volumes lost due to the impact of the second wave of the coronavirus pandemic, sales of medium and heavy commercial vehicles (with capacity of more than 3.5 tonnes) in this fiscal year are expected to grow to more than 334,000 units registered in the last financial year, industry officials said.
“GDP outlook is good, monsoons are expected to be favourable, (and) infrastructure investments are lined up…so construction and mining segments will do very well,” Aggarwal told ET. “Haulage will pick up with business improving. So, we are optimistic that in the balance part of the year, the situation should be much better as far as the commercial vehicle industry in concerned.”
Prior to the second wave of the pandemic, the industry was expecting sales in the segment to touch 400,000 units in FY22.
