BW Businessworld
Gearing Up For The Future
India's commercial vehicles industry's struggle with overcapacity, subdued may not end anytime soon. But the rough road to recovery is getting shorter freight availability, financing issues, the pandemic and lockdown rather than longer as demand shows an uptick in volumes
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No industry mimics the health OF THE economy as closely as the automotive sector, especially the commercial vehicles (CV) segment. And with a slowdown gripping the Indian economy over the past two years, it is hardly surprising that the CV industry, which until 2018 was booming with India as the world's third largest market and the fastest-growing globally, has slid into its worst recession in a decade.