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TRUCKS' MARKETS * India - Slowdown in truck sales may continue
Mumbai,India -The Business Standard, by Ranju Sarkar -January 21, 2008: -- Even as global majors like Daimler and Nissan drive into India, the slowdown in commercial vehicles (CVs) could prolong before sales recover... ‘‘The excess supply will get absorbed over the next 12 months. I don’t see a recovery before the second half of 2008-09,’’ says T Srinivasaraghavan, MD, Sundaram Finance... Signs of this are already visible. In an economy growing at 9 per cent, sales of medium and heavy commercial vehicles (M&HCVs) fell 4 per cent in the nine months ended December 2007, after growing 39 per cent in the corresponding period last year, and at 21 per cent and 39 per cent during last two fiscals... The slowdown is a result of chronic oversupply, rising interest rates and a lax enforcement of ban on overloading of vehicles in many states...
Labels: trucks markets
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