“Sequentially, commercial vehicle sales grew by around 12% in September. While this can be an indication of the slowdown easing out, it is a little too early to say whether it marks a meaningful turnaround. Macroeconomic indicators are not strong. Government investments in infrastructure, surplus rains will have a lag effect-…The recent measures taken to improve liquidity as well as the announcement of the proposed vehicle scrappage policy (expected soon) can help revive demand,” said Sridhar V, partner at Grant Thornton India.
This article appeared in Auto Economic Times on 19th Oct, 2019.