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Commercial vehicle sales in India could take longer to recover than expected despite improving macro-economic indicators, according to India Ratings and Research (Ind-Ra). The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities but medium and heavy commercial vehicle (MHCV) sales are unlikely to recover before the fourth quarter of 2021-22, it said. The ratings agency reiterated that MHCV sales could decline by 35-45 per cent year-on-year (y-o-y) in FY21, though the decline in LCV sales is likely to be contained within 20-25 per cent. In FY22, the industry could see sales growth in double digits, especially due to the low base of FY20-FY21, it said in a statement.
Commercial vehicle sales might take more time to recover than expected, says India Ratings
The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities
PTI | December 28, 2020 | Updated 14:10 IST In FY22, the industry could see sales growth in double digits, especially due to the low base of FY20-FY21, Ind-Ra said in a statement
Commercial vehicle sales in India could take longer to recover than expected despite improving macro-economic indicators, according to India Ratings and Research (Ind-Ra). The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities but medium and heavy commercial vehicle (MHCV) sales are unlikely to recover before the fourth quarter of 2021-22, it said.
Commercial vehicle sales in India may take longer to recover than expected: Ind-Ra
The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities but medium and heavy commercial vehicle (MHCV) sales are unlikely to recover before the fourth quarter of 2021-22, it said. PTI
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Commercial vehicle sales in India could take longer to recover than expected despite improving macro-economic indicators, according to India Ratings and Research (Ind-Ra).
The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities but medium and heavy commercial vehicle (MHCV) sales are unlikely to recover before the fourth quarter of 2021-22, it said.
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Commercial Vehicle Sales In India May Take Longer To Recover Than Expected: Ind-Ra
The ratings agency reiterated that MHCV sales could decline by 35-45 per cent year-on-year (y-o-y) in FY21, though the decline in LCV sales is likely to be contained within 20-25 per cent.
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Commercial vehicle sales in India could take longer to recover than expected despite improving macro-economic indicators, according to India Ratings and Research (Ind-Ra).
The light commercial vehicles (LCVs) segment has started to recover as they provide last mile connectivity and because of increased e-commerce activities but medium and heavy commercial vehicle (MHCV) sales are unlikely to recover before the fourth quarter of 2021-22, it said.