Commercial vehicle makers to drive into 1-million unit club in FY19

The industry produced 894,551 units of CVs last financial year, with a growth of 10.40 per cent

Extraordinary growth in the commercial vehicle (CV) demand is set to drive the industry into the 1-million unit club for the first time. The industry will join segments like passenger vehicles (PVs) and two-wheelers, which entered the million-unit league several years ago (the auto industry made 4 million PVs and 23 million two-wheelers in 2017-18, or FY18).
 
Last year, domestic three-wheeler makers had crossed the 1-million unit production for the first time. Once CV makers enter this league, tractors will be the only automobile segment below an annual production of 1 million units.
 
In the first five months