With macros finally showing signs of recovery, one sector most sensitive to the economic cycle -- commercial vehicles -- appears headed for growth. Market leader Tata Motors expects volumes to grow 14-15 percent in fiscal year 2016-17, with growth led by sales by both light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs) as well as the trucks and tippers.
The first two saw double digit growth for the first time in several quarters during the January-March period, said Ravi Pisharody, the company's Executive Director - Commercial Vehicles.
The medium & heavy commercial vehicles (M&HCV) space, which accounts for 60-70 percent of Tata Motors' CV revenues, is headed for a new peak this fiscal, he added. But for a full-blown recovery in CV sales, the financing environment needs to improve, Pisharody maintained.
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