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OPINION * India - Long haul to recovery for truckmakers
New Delhi,India -Reuters, by C.J. Kuncheria -21 May 2009: -- Indian commercial vehicle makers' path to recovery will be longer than that of the broader economy, with customers and lenders seen returning only after the increased activity has significantly ramped up freight movement... Sales of trucks and buses, linked to the pace of economic activity, fell by over a fifth in the year to March 2009, led by steep drops at top firms Tata Motors, Ashok Leyland and Eicher Motors, as slower growth slashed foreign trade and industrial output... There is talk of a recovery in Asia's third-largest economy and India's auto industry body has forecast a 7-10 percent growth in commercial vehicle sales for 2009/10... But many players say much of the talk is driven by sentiment, and sales will continue to be in the doldrums till freight movement rises and financing becomes easier... (Photo: India's heavy duty truck, by Kamaz/Vectra group, JV)Labels: trucks markets worldwide
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