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TRUCK MARKETS * India - Truck sales drop 9% in Jan
New Delhi,India -The Business Standard -February 06, 2008: -- According to latest estimates released by the Indian Foundation of Transport Research and Training (IFTRT), truck sales have dropped 9.3% in January this year... Despite a sales spike in the October-December quarter, overall sales have slackened for the 10 month period between April '07 and January '08... While industry forecasts estimated growth in the light to heavy vehicle category for 2007-08 between 10- 15% as against the robust 20 - 25 % (CAGR) logged over the last 6 years, sales growth of trucks in all categories, barring intermediate vehicles, have halted this fiscal up to January 08 and is expected to remain so for the last 2 months... Industry veterans explain this slowdown to a host of reasons... Despite the country’s economy growing between 8 -9 %, the small and medium industries (SME) have not performed as well over the last 3 quarters leading to a sharp drop in demand for newer more powerful trucks... Despite the Supreme Court ruling banning overloading of trucks, most truckers in the country manage to skirt the rule and do not go in for newer and better vehicles of higher capacities... Shortage of trained drivers to drive the latest heavy vehicles has effectively put brakes on fleet upgradation...
Labels: trucks markets
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