Rise in Commercial Vehicle sales this November
The Commercial Vehicle sector witnessed the increase in sales by 9 % this past November ’14. This increase was led by 40 % growth in sales of trucks and buses, and although sales of smaller commercial vehicles were less, the figures depict a potential economic recovery with hopes of a sharper turnaround next year.
Over the last nine months, the market showed decline in total commercial vehicle sales by 7.3% due to sharp dip in sales of smaller commercial vehicles used for more local movement of goods. But there was increase of Sales in medium and heavy commercial vehicles segment, showing a better economic performance.
To revive the small commercial vehicle segment, manufacturers like Tata Motors, Ashok Leyland, Mahindra and the car manufacturer Maruti Suzuki are planning to introduce small pick-up trucks in near future. Tata Motors is working on the new avatar of Tata ACE and Super ACE models which will feature load carrying ability and overall performance. Meanwhile, Mahindra is also developing a new pick up truck under the code name of P601. Maruti Suzuki is also developing a pick up truck under the code name of Y9T. Apart from these manufacturers, companies like Eicher-Polaris, Eicher-Volvo and Bharat Benz are planning to launch small pick up trucks in next few years.