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Aug 25, 2015

TRUCKS MARKET * India: Commercial vehicle makers push second-hand sales through retail outlets

* New Delhi - Inspired by zooming sales of pre-owned cars, CV makers also want slice of meaty second-hand pie

-- The successful run of company-owned channels to retail pre-owned cars has now led commercial vehicle manufacturers to also give a push to such sales. The country’s largest commercial vehicle manufacturers, Tata Motors and VE Commercial Vehicles (a joint venture between the Volvo Group and Eicher Motors), have reinforced their thrust into retailing pre-owned commercial vehicles through their respective outfits... The basic idea behind scaling this stream is to cut into the market of the unorganised sector, which dominates such sales, and connect with the customer base, which helps in sales of new vehicles. Also, during slowdowns, when sales take a hit, second-hand sales come in handy... Tata Motors has separate showrooms for selling used vehicles, while at some places the dealers showcase pre-owned vehicles at the same location... Though no detailed data for the used trucks market is currently available, analysts expect the market to grow with the entry of major players... In the April-July period, the segment has seen a robust growth of 24.86% in domestic sales. In July itself, the growth has been 29.49%... 
Mumbai/ New Delhi, India - The Financial Express, by Malyaban Ghosh and Shaikh Zoaib Saleem - August 23, 2015


* New Delhi - A quick insight into the Indian trucking industry

-- As per ICRA report, the Medium & Heavy Commercial Vehicle (M&HCV) Truck segment posted a positive growth of 19.0% in 10m FY 2015. 

  ° The HCV (16T+) segment accounted for almost half of total M&HCV (Truck) sales and witnessed strong demand (up 42.6% in 10m FY 2015). 

  ° The LCV Truck segment experienced sluggish trends (down 13.8% YoY) due to constrained financing environment. 

  ° Fleet utilization levels are gradually improving on back of higher load availability from some of the key freight generating sectors such as Automobiles, Cement and other general industries. 

  ° In ICRA’s view, the M&HCV (Truck) segment is likely to register a growth of 12-14% in FY 2016 while demand for LCV’s will grow at CAGR (%) 11-13% over the longer-term. 

  ... The key factors driving this growth are continuing trend towards replacement of ageing fleet and expectations of pick-up in demand from infrastructure and industrial sectors in view of reforms being initiated by the Government... As Ishu said, “The share of road transport is bound to grow in the upcoming years with 8.4% for 2012". The total good vehicles amount to 76.6 lakh making close to 700 Mn trips in India... 
(Photo - Various facilities are to be provided at the truck terminal of CMDA in Madhavaram)  --    Mumbai/ New Delhi, India - The Financial Express, by Malyaban Ghosh and Shaikh Zoaib Saleem - August 23, 2015

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