Domestic CV volumes may touch 1 mn units mark this financial year: Crisil

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Domestic CV volumes may touch 1 mn units mark this financial year: Crisil - Business Standard

Quick Summary:

Domestic CV volumes are expected to touch 1 million units mark this fiscal, the pre-pandemic peak logged in FY19, driven by accelerating infrastructure execution, replacement demand and policy support from the PM-eBus Sewa scheme, ratings agency Crisil said on Wednesday.

The volume growth will be led by light commercial vehicles (LCVs), which are expected to account for around 62 per cent of total volume on account of rising penetration of e-commerce and warehousing.

Crisil said its analysis is based on four key CV players, which account for around 70 per cent of the sector volume.