H1 FY24 CV sector analysis: High base drives marginal YoY growth, outlook stays positive
The commercial vehicle industry in India recorded a 2% year-in-year growth to 4.65 lakh units during April-September 2023 period. This comes on a high base of the first half of last fiscal year when the segment recorded 40% growth owing to the post-pandemic recovery. Going forward, the sector is on a positive growth path as it is supported by economic activity and growth in the manufacturing and infrastructure sector. Among the top CV players in the market, Tata Motors and Mahindra together take up over half of the domestic sales.
Tags : Commercial Vehicle Sales SIAM CV data Vinod Aggarwal Girish Wagh truck sales in india bus sales in india commercial vehicle sales in 2023 tata motors market share mahindra market share
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