CV Industry Expects HD Truck Sales to Cross 2.80 Lakh Units for FY2016-17
Published On Jun 15, 2016
As the commercial vehicle industry is now completely out of recession, all the major vehicle manufacturers are expecting FY2016-17 to be the fortune-bringer year for sales numbers. One of the major segments on which manufacturers have set their eyes upon is the Heavy Duty (HD) trucks sector as due to the Make in India program, core sectors such as mining and construction are getting huge boost and investment, so the need for heavy vehicles is going up.
There is also an event scheduled in November called HD Truck at Pune, which would be bringing together all the industry experts, dealers and OEMs together to talk about the trends that are going to decide the shape of the Indian CV industry during the next decade. Sales in this segment is expected to cross 2.80 lakh units this financial year, leading to an almost 23 percent growth as compared to 2015. Last year, around 35 percent growth was recorded with total 2.28 lakh units sold in heavy duty truck category.
Mr. Vinod Aggarwal, CEO, VECV, said, “Looking at the current pace of the economy and huge investments, we may well surpass the peak by the end of this fiscal. We expect that it may go beyond 2.80 lakh units.” He further added, “The economy is doing good, mainly due to the huge investments being made by the Centre in infrastructure and core sector projects such as roads, ports, mining, railways and smart cities.”