After expanding at a brisk pace for the past several months, commercial vehicles (CV) sales are showing signs of cooling off.
Even as most companies saw a year-on-year growth in the October sales due to last year's weak base, sales have declined for quite a few firms on a sequential month-on-month basis, signaling a weakness in demand.
Cumulative sales of heavy-duty trucks of top four makers, including Tata Motors, Ashok Leyland, Volvo Trucks India, and M&M advanced at 11.5 per cent to 23,818 units from the year-ago period, according to monthly auto sales released by the companies.
“The sales have moderated from 25 per cent last month to 15 per cent this month. This is despite last year’s low base,” said S P Singh, a senior fellow at Indian Foundation of Transport Research and Training .