Despite declining sales in the segment, Maruti Suzuki India plans to enter the light commercial vehicles...
Despite declining sales in the segment, Maruti Suzuki India plans to enter the light commercial vehicles (LCV) business in the current financial year by launching its first product, initially on a pilot basis in some states and then expanding it on a national level.
“The progress for the commercial vehicle is going as per plans. We will launch the light commercial vehicle in the current financial year itself,” Maruti Suzuki India executive director marketing and sales, RS Kalsi said on Wednesday .
The light commercial vehicle sales have been under pressure for the past few months. For the April-July period of the current financial year, the total domestic sales of light commercial vehicles recorded a fall of 5.24% compared to the same period last year.
For the month of August, major market players in the segment witnessed tepid growth. While Tata Motors posted a sharp fall of 25% in the segment, Mahindra & Mahindra and Ashok Leyland recorded muted growth of 4.7% and 6%, respectively.