The commercial vehicle segment growth rate has been robust with June numbers just another indicator of improving economic environment. Tata Motors, the largest commercial vehicle maker in the country, reported a 33% growth in commercial vehicle sales in the country. The company sold 34,791 units as compared to 26,245 vehicles sold in June last year. Meanwhile, Tata Motors said it has increased prices of truck models except Ace and Magic by an average 1.5% to partly offset high input costs, a company spokesman said. The company said there will be no increase in prices of passenger cars.
On June 29, Ashok Leyland Limited (ALL) had increased prices of its medium and heavy duty vehicles by about 3% with immediate effect.
The company that plans to sell 2.2 lakh units of light commercial vehicles (LCVs) during this financial year (FY’11), in a release said it has sold 19,652 LCVs in June, a growth of 21% over last year. Medium and heavy commercial vehicles (M&HCVs) sales stood at 15,139 units, a growth of 52% over June last year.
?The growth in the CV segment has been strong since Januaryon year-on-year basis. This has been on back of the low base affect. The growth is expected to continue in the next quarter as well. The CV volumes are expected to soften a bit in the third and fourth quarter,? said an auto analyst based in Mumbai.
Mahindra & Mahindra (M&M) said its three-wheelers and light commercial vehicles (LCVs) Gio and Maxximo together registered a growth of 125% over same period last year.
The company said it has sold 7559 units of hree-wheelers and light commercial vehicles (LCVs) Gio and Maxximo together in June 2010 as compared to 3357 units in June last year. Mahindra Navistar sold 1111 units LCVs in June 2010 as compared to 1015 units in the same period last year. Ashok Leyland and Eicher Motors did not come out with the sales.