The comment of the chairman of India s second-largest bus maker comes even as the government has to some extent addressed the industry s concerns about payment security.
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Sales of heavy duty trucks that can carry more freight has grown in healthy double digits - by 15% in the first seven months of the year, said Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM) and VE Commercial Vehicles (VECV) chief executive officer and managing director. VECV is a joint venture between the Volvo Group and Eicher Motors.
Sales of commercial vehicles, a barometer of economic activity, are expected to hit an all-time high in FY24, fetching record revenue for companies such as Tata Motors, Ashok Leyland and VE Commercial Vehicles.