Indian Light Commercial Vehicle Market Slows

The Light Commercial Vehicle (LCV) market in India is experiencing a slowdown.  Industry experts point to expensive loans, reduced economic activity and challenging freight rates in several sub-markets as the reasons. The mini-trucks which can carry up to two tons of goods has seen growth fall. According to the manufacturer’s trade association, “From an average 40,000 units a month last financial year, sales of goods-carrying light commercial vehicles (LCVs) fell have fallen to 33,721 units in April; growth slowed from 16 per cent last year to three per cent in April.” The segment’s more recent growth had attracted more competition and new models with the main manufacturers being Tata Motors with their Ace models, Mahindra & Mahindra’s Maxximo and Ashok Leyland’s Dost .  Learn more:  Business-standard.com

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