The Indian commercial vehicle industry has topped the sales charts of year 2011, claiming the position of the world’s fastest growing bus and truck manufacturing market for the consecutive second year.
Interestingly, the Indian market left behind its arch rival China by registering a growth of 22 percent in the commercial vehicle segment, whereas Chinese counterpart witnessed a slump of 10 percent during the same year. On the other hand, the world’s largest commercial vehicle manufacturing market US registered a sales surge of 13 percent in the same year.
As per a statement give by an executive of country’s leading commercial vehicle maker Ashok Leyland, “The fundamentals of the markets continue to be strong with the boost coming from demand accruing from the focus on infrastructure development while the mushrooming of smaller cities and towns are pushing demand for sub-one tonner trucks."
Speaking on the matter, president of the Society of Indian Automobile Manufacturers (SIAM), who is also the Chairman of country's third largest CV maker, Eicher Motor, Mr. S Sandilya, said, that the firm is expecting a stronger growth of commercial vehicles in the coming months even if there is a slight blip due to rise in excise from the recent budget. With the Indian economy still growing reasonably well in percentage terms all signals lead to positive demand in coming months with a higher focus on the intra-city light cargo and passenger vehicles, he added.
