Commercial vehicle: Representative image
Commercial vehicle (CV) wholesale volumes are likely to witness a year-on-year growth of up to 3 per cent in the current fiscal, rating agency ICRA said in a report on Monday.
ICRA had earlier estimated a 4-7 per cent decline in CV volume for FY25.
The change in forecast is due to better-than-expected volume growth in the first four months of the current fiscal year and expectations of a marginal pickup in demand in the second half of the year, Icra said in a statement.
FY25 will be the second consecutive year of moderate growth for the commercial vehicle segment after 1 percent and 3 percent year-on-year growth in wholesale and retail sales, respectively, in the last fiscal year, it added.
Medium and heavy commercial vehicle (truck) volumes in FY25 are expected to grow between 0-3 per cent YoY, given the high base effect and impact of general elections on infrastructure activities in the first few months of the fiscal, Icra said.
Domestic light commercial vehicle (truck) wholesale sales volume is expected to show moderate growth in FY25 due to high base effect, sustained slowdown in e-commerce and cannibalisation by electric three-wheelers, it added.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 2, 2024 | 20:37 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.