Commercial vehicles on recovery track, to touch FY19 peak next fiscal: VECV

Triggered by replacement demand and economic growth, India's commercial vehicle segment sales are expected to reach its 2018-19 peak of 5,77,479 units in the coming financial year (2023-24), a top executive of Volvo Eicher Commercial Vehicle (VECV) has said.  

Commercial vehicles (having more than 3.5 tonnes capacity) had dropped from the 2018-19 peak to 2,34,299 vehicles in 2020-21 and had increased to 3,43,199 units in 2021-22. "This year, it should be somewhere between 343,000 and an early peak of 577,000 units. We expect the industry to cross this earlier peak during the coming financial year. During the first half of the