India’s Commercial-Vehicle Volume Growth to Slow

India’s Commercial-Vehicle Volume Growth to Slow

From fitchratings.com

Growth in India’s commercial-vehicle sales volume will slow to low-to-mid single digits, as rising ownership costs amid additional regulatory requirements and elevated inflation and interest rates weigh on purchase decisions, says Fitch Ratings. This is despite favourable underlying trends supporting demand and follows a solid 34% growth in the financial year ending March 2023 (FY23). India’s commercial-vehicle wholesale volume reached close to 962 thousand units in FY23, from 569 thousand units in FY20, according to the Society of Indian Automobile Manufacturers. This was close to the previous cyclical peak of ... (full story)

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