| Truck sales in February were slower by 3.72 per cent, with 25,404 vehicles sold in the last month as compared with 26,358 units in February last year.
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| This was an improvement from the negative start this quarter when sales were lower by 9.3 per cent.
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| Lower truck finance rates and the continuation of higher discounts, helped improve the situation somewhat, according to a statement by the Indian Foundation of Transport Research and Training (IFTRT).
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| However, the demand was nowhere near what is usually witnessed during this financial year ending period, when buyers are looking to avail of depreciation and companies launch new models with incentives.
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| Finance rates for trucks have softened to 5 per cent as against the 7 per cent in the corresponding period last year.
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| The Union Budget has proposed a reduction of the peak duty on commercial truck chasis from 16 per cent to 14 per cent.
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| IFTRT, an autonomous body engaged in research and analysis in the field of transportation and the automotive sector, said that with auto makers having hiked the prices of all categories of commercial vehicles by 2-2.5 per cent over the past six weeks, the excise cut would not make much of a difference to the end consumer.
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| Truck rentals however, were largely unchanged, even after the drop from 6 per cent to 4 per cent in rentals on trunk routes in December, and the one rupee per litre increase in diesel prices last month. |
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