Eicher Motors has reported a strong performance for both its truck and bus ranges

Vinod Aggarwal, the CEO for the company, claims that the brand has been seeing a lot of orders from cement and mining companies. Furthermore, he adds that the company has massive scope for growth, as it is a considerably small player. In an interview with CNBC TV 18, he further elaborated on the specific sections of growth and lack of growth for the company and for the market at large.

“Commercial vehicle (CV) industry is growing now and mostly growth is coming from buses and from heavy duty trucks. If you look at the buses, the growth has been 25 percent in first 5 months. Going by this space you would see that buses might touch the earlier peak of 2011 or 2012 this year itself. As far as the heavy duty trucks are concerned we have seen a growth of 35 percent in first 5 months. In heavy duty trucks the tipper segment which is the construction trucks, they are still dropping. Construction trucks have dropped by 4.5 percent in first 5 months, even though the heavy duty trucks have gone up by 35 percent but within that construction trucks have dropped. That is due to the infrastructure projects have still not taken off. So we have to see lot of action in infrastructure projects like road construction or all other infrastructure projects which are currently going through various types of problems. It may be due to land acquisitions or it may due to financial distress with the contractors so there are various types of issues in the infrastructure projects. That is very critical for the CV industry going forward”. Eicher Motors was founded in 1982, and operates with its base in Gurgoan. The company is a leader in the commercial vehicles segment, and has found its way to the Bombay Stock Exchange.