The commercial vehicle segment is expected to recover from the ravages of the pandemic, with the industry targeting 30 per cent growth in the next fiscal.
“The commercial vehicle (CV) segment underwent a cyclical downturn and it started in November 2018 when a dip in year-on-year sales was noticed. This was triggered by the increased axle load norm and the credit crisis. An economic downturn was witnessed with the BS-VI transition which led to a reduced stock in the system,” said Girish Wagh, president, commercial vehicle business unit of Tata Motors.
He was speaking during a virtual media interaction after the launch of the Ultra Sleek T series range of Intermediate and Light Commercial Vehicles (I&LCV) on Thursday.
“The lockdown aggravated the situation with a 90 per cent drop in sales in the first quarter of 2020-21, with the unlock in the second quarter there was 24 per cent downturn which further improved in
the third quarter to single digit and now in the fourth quarter we have month-on-month improved volumes,” said Wagh.
“The segment is witnessing a combination of headwinds and tailwinds. Demand is back in the tipper and hauler segment. But the increase in tyre and fuel prices are putting pressure on the operators,” said Wagh.
The new Ultra Sleek T-Series is available in three models – T.6, T.7 and T.9 in varied deck lengths.
