Commercial vehicle makers expect to surpass 20% growth of 2017-18

Automobile makers have seen strong revival in sales, aided by the higher government spending on infrastructure, greater replacement demand and easing of GST-led disruption

In the backdrop of higher spending on infrastructure and demand in the replacement market, the commercial vehicle (CV) industry expects to surpass its growth of 20 per cent in 2017-18.

CV sales fell in the first six months of FY18 (April to September), due to demonetisation, implementation of the goods and services tax (GST) and the transition to new emission standards. Turnaround came in the third and fourth quarters of the year ended March 31, 2018. Ratings agency ICRA says the heavy CV (truck) segment outperformed the industry average at 28 per