Commercial vehicle makers may incur Rs 6000 cr net loss this fiscal: Crisil

According to Crisil, the CV makers were already hit by new overloading norms and a slowing economy when the Covid-19 pandemic arrived

Commercial vehicle manufacturers are expected to incur a massive net loss of around 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 FY21, according to data, the total CV (commercial vehicle) sale in the country stood at 31,636 units, 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, with most of the trade and business activities coming to