Bharatbook.com : Indian Vehicle Industry Characteristics & Demand Drivers

Indian Commercial Vehicle (CV) industry( http://www.bharatbook.com/Market-Research-Reports/Indian-Commercial-Vehicle-Industry.html ) fell into hard times in FY08. The domestic sales of the industry grew by 4.07% in FY08 as compared to a growth of 33.26% in FY07. The Medium & Heavy Commercial Vehicles Goods Carrier (M&HCV GC) segment particularly bore the brunt of the situation, with the domestic sales in this segment declining by 5.88% in FY08. The Light Commercial Vehicles Goods Carrier (LCV GC) segment, due to diversity of its usage, managed to clock a decent growth of 11.65%. The Passenger Carriers (PC) segment registered a strong growth of 26.51% on the back of ordering by both, private players and State Transport Undertakings (STUs).
The first half of FY09 brought more bad news for the industry as, in addition to M&HCV GC segment, the PC segment and the Export sales too remained subdued. Even the torch-bearing LCV GC sub-segment of Gross Vehicle Weight (GVW)

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