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LATEST NEWS UPDATES | Truck sales crash 60%; Ashok Leyland sees decline of 70% in August -Shally Seth Mohile

Truck sales crash 60%; Ashok Leyland sees decline of 70% in August -Shally Seth Mohile

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published Published on Sep 5, 2019   modified Modified on Sep 5, 2019
-Business Standard

Volumes during August were dragged down by the top two manufacturers, which together sell more than seven in every 10 trucks

Mumbai:
Sales of medium- and heavy-duty commercial vehicles (M&HCVs), excluding buses, considered a barometer of economic activity, more than halved in August, as transporters — struggling with excess capacity owing to a slowing economy and consumption slowdown — deferred purchases, the monthly sales data released by truck makers shows.

India’s economy grew by 5 per cent in the June quarter, the slowest in over six years. The manufacturing sector fared worse, growing at an abysmal 0.6 per cent.

The overall volume at India’s top four M&HCV makers — Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra — fell 59.5 per cent to 31,067 units during the month, compared with the year-ago period. In desperation, truck makers are offering discounts up to Rs 9,00,000 on high-tonnage (above 49 tonnes) duty trucks.

Truck
 
Companies are now hinging their hopes on the festive season and a pre-buying ahead of the implementation of BSVI emission norms, which take effect on April 1, 2020.

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Business Standard, 4 September, 2019, https://www.business-standard.com/article/companies/truck-sales-crash-60-ashok-leyland-sees-decline-of-70-in-august-119090301461_1.html?fbclid=IwAR24vxgySInnaJSEU


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