While we have seen a positive sentiment in the market for commercial vehicle sales in the FY 15-16, the new research conducted by CRISIL projects that the overall Commercial Vehicle market will grow in the coming year 2016-17.
Year 2015 saw various fluctuations while the Light Commercial Vehicle segment saw a decline of (3)-(-5) in sales, the Medial & Heavy Commercial vehicle segment posted a sales increase of 22-24%, busses segment also saw a considerable rise in sales by posting 11-13% increase in sales, while in total the overall commercial vehicle market grew by 5-7%.
See Also: benefits of buy a second hand truck
As per the reports by CRISIL in 2016-17 all the verticals of the Commercial Vehicle segment will witness a healthy increase, that will eventually make the segment grow at an increasing speed. LCV sales to recover slightly in 2016-17 on higher consumption spend and improved financing availability. Despite lower growth trajectory, MHCV sales to sustain at healthy levels in 2016-17, growth forecast to moderate over a high base due to slowdown in replacement demand by LFOs despite modest improvement in macroeconomic signals (industrial growth, infrastructure projects, mining activity & agricultural output)
The report as per its forecast till 2019-20 believes that the industry will have a moderate growth where LCV segment will grow by 11-14%, MHCV segment will grow by 10-12%, Buses segment will grow by 8-10% & the overall growth will be 10-13%.
While the new commercial vehicle market will grow at a good pace, the used commercial vehicle market will also be witnessing the same boom, going by the current ration of 1:1 the number will increase at a good pace.
If you are looking ahead to buy used commercials vehicle in India, than visit Shriram Automall the company offers the widest line up if used commercial vehicles of all models under a single roof.
(Image Source: theautochannel.com)
Year 2015 saw various fluctuations while the Light Commercial Vehicle segment saw a decline of (3)-(-5) in sales, the Medial & Heavy Commercial vehicle segment posted a sales increase of 22-24%, busses segment also saw a considerable rise in sales by posting 11-13% increase in sales, while in total the overall commercial vehicle market grew by 5-7%.
See Also: benefits of buy a second hand truck
As per the reports by CRISIL in 2016-17 all the verticals of the Commercial Vehicle segment will witness a healthy increase, that will eventually make the segment grow at an increasing speed. LCV sales to recover slightly in 2016-17 on higher consumption spend and improved financing availability. Despite lower growth trajectory, MHCV sales to sustain at healthy levels in 2016-17, growth forecast to moderate over a high base due to slowdown in replacement demand by LFOs despite modest improvement in macroeconomic signals (industrial growth, infrastructure projects, mining activity & agricultural output)
The report as per its forecast till 2019-20 believes that the industry will have a moderate growth where LCV segment will grow by 11-14%, MHCV segment will grow by 10-12%, Buses segment will grow by 8-10% & the overall growth will be 10-13%.
While the new commercial vehicle market will grow at a good pace, the used commercial vehicle market will also be witnessing the same boom, going by the current ration of 1:1 the number will increase at a good pace.
If you are looking ahead to buy used commercials vehicle in India, than visit Shriram Automall the company offers the widest line up if used commercial vehicles of all models under a single roof.
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