Commercial Vehicles in India

1. Commercial Vehicles in India

2. A Commercial Vehicle (CV) is a type of vehicle that is used for commercial or business related purposes • People who own private business use a large number of vehicles for commercial purposes • Insuring commercial vehicles is a crucial precaution, and is unfortunately more expensive than purchasing personal auto insurance

3. State of Commercial Vehicles in India • The commercial vehicle industry has been found to be growing at a very fast rate • The industry has shown potential for long-term growth, subject to the economy accelerating to 7%–8% GDP growth per annum • Also the Government expediting policies that are in support with the growth of manufacturing and infrastructure development

4. What does the future of Commercial Vehicle Industry hold? • The fundamental drivers of the industry have not changed their ways • Seems that the key stakeholders will need to re-calibrate their strategies to be in more in tune with a market that has can be seen shifting into a lower gear • After experiencing an appreciable amount of growth of over 30% during 2009-10 and 2010-11, the toughness of the domestic Commercial Vehicle industry can be seen to be diminishing

5. Condition of Commercial Vehicle Industry in India • The world’s third largest truck and bus market, India can be seen increasingly as an upcoming hot spot with growth opportunities for some of the biggest global commercial vehicles manufacturers • The commercial vehicle segment in India has shown an amazing recovery even after withstanding what could be called as one of the biggest global economic crisis

6. With the economic revival and increasing private sector firms spending on infrastructure and facilities, the expected growth in the segment of commercial vehicles will continue

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