Tata Motors today said immediate steps are needed to put the medium and heavy commercial vehicle segment, a lead indicator of the country's economy, back on track.
Managing Director of Tata Motors Karl Slym, accompanied the company's Executive Diector (Commercial vehicle) Ravi Pisharody and Jamshedpur plant Head A B Lal, also said the government will have to take right decision to improve the sector, which has registered negative 38 per cent growth due to the slump in demand.
He said that any special package would not serve the purpose unless the situation in mining, infrastructure and construction sector improves.
"We are still leading the market share with 62 per cent but the production volume and demand declined due to the prevailing slump," he said.
The slump in sale of commercial vehicle was itself a big indicator of the prevailing economy, he claimed.
Besides, the government will have to invest more on sectors such as infrastructure, mining and construction to give impetus to this sector, Slym said.
Slym was in the steel city on the occasion of rolling out its two millionth truck from Jamshedpur plant of the country's leading automobile company Tata Motors today.
