When the auto industry revived last year, commercial vehicles were the last to see a turnaround, reports fe Bureau in New Delhi. But with the Narendra Modi-led government talking of trade and growing industrialisation, commercial vehicles are showing a better growth rate than passenger vehicles. Even though the year has seen some high-profile car launches, passenger car sales grew just 3.62% between April 2014 and January 2015.
Medium and heavy commercial vehicles stole the limelight. While the auto industry grew at 8.71%, the M&HCV category grew at 12.91%. Trucks grew the most at 19.03%. However, light commercial vehicles are yet to turn around, with sales dropping 12.42%. In fact, in a recent interview to FE, Tata Motors’ Vernon Noronha said larger CVs are the first to turn around, followed by LCVs. In two-wheelers, scooters rode high with 27.42% growth, six times that of motorcycles.