SIAM’s first quarter, 2019-20 data has made it clear that sales drop across the automobile spectrum has become acute in the recent months. And this also includes the commercial vehicle where the drop has been close to 10 percent.
According to latest data released by the industry body, the overall Commercial Vehicles segment registered a decline of (-) 9.53 percent in April-June 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 16.60 percent and Light Commercial Vehicles declined by (-) 5.06 percent in April-June 2019 over the same period last year.
The de-growth pattern in the exports of commercial vehicles was more massive at -52.41 percent. In April-June 2019, overall automobile exports grew by a meager 0.16 percent where Passenger Vehicles and Two Wheelers exports grew by 3.55 percent and 3.12 percent respectively.