Commercial vehicle makers to incur Rs 6,000 cr net loss this fiscal: Report

CV makers were already hit by new overloading norms and a slowing economy when the Covid-19 pandemic arrived and sales volume had fallen 29% in the fiscal year ended March 2020

Commercial vehicle manufacturers are expected to incur a net loss of Rs 6,000 crore in the current financial year, with the volume likely to touch its lowest point in a decade after two consecutive years of high de-growth, Ratings agency Crisil said on Thursday.

In the April-June period of financial year 2021, as per data, the total CV (commercial vehicle) sale in the country stood at 31,636, a decline of 85 per cent year-on-year as the country remained in the Coronavirus-induced lockdown for most part of the June quarter and, most of the trade and business activities coming to a temporary