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Auto Expo an opportunity for commercial vehicle industry searching for growth, says top executive
- Commercial vehicle makers will also be showcasing their technological advancements and product plans around alternate fuels, especially electric vehicles.
The Bharat Mobility Global Expo 2025 has been scheduled at a very opportune time for the commercial vehicle (CV) industry which finds itself at the cusp of a technology shift even as growth floundered in recent months, a top executive said.
The expo will give vehicle makers an opportunity to showcase upcoming technology shifts to their key clients and dealers, according to Vinod Aggarwal, the managing director of VE Commercial Vehicles.
“It is a great opportunity to showcase new technologies to transporters and dealers, which creates excitement. They get to know what’s happening in the industry and in which direction the sector is heading,” he said.
VECV, which is known for its large trucks and buses, will be entering the small commenrcial vehicle (SCV) segment with a new range of electric pick-ups. Similarly, Ashok Leyland will be launching a new range of small commercial vehicles under the Saathi brand that will complement its existing range of Dost range of SCVs. Market leader Tata Motors is also expected to launch a new range of electric SCVs, as per a report from Autocar Professional.
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The move from manufacturers to bolster their presence in the SCV space is coming at a time when sales of heavy and light trucks have been languishing, falling 1.8% and 2.7% in the first nine months of FY25, as per data from the Society of Indian Automotive Manufacturers (Siam).
At the expo, commercial vehicle makers will also be showcasing their technological advancements and product plans around alternate fuels, especially electric vehicles. Tata Motors plans to show its widest range of vehicles so far across sizes and fuel technologies, including electric, CNG and flex fuel, said a person in the know. Similarly, VECV and Ashok Leyland are also expected to showcase a wider portfolio of alternate fuel vehicles.
The expo is also an opportune time for the sector to beat slowdown blues in the first nine months of FY25, where truck sales dipped due to a slowdown in government expenditure on infrastructure due to elections and an irregular monsoon, Aggarwal said.
“The sales of heavy trucks fell in the first nine months due to a slowdown in government’s infrastructure spending due to elections. But this is nothing to worry about, it is a marginal and temporary dip,” he said. “In the last quarter, we expect the industry to do better.”
Aggarwal is pinning his hopes on projections of a growing Indian economy and the government’s push for developing infrastructure as a growth lever. Meanwhile, growing exports and bus sales have also buoyed industry sentiment, he said. Bus sales grew 31% during the first nine months of FY24, as per Siam data.
The growth in bus sales was driven by a surge in demand from schools as well as corporate clients as more and more employees move back to work from office, as per Aggarwal. Intercity movement of people has also grown, resulting in higher bus sales, he said.
Speaking about the commercial vehicle industry’s expectations from the upcoming budget, Aggarwal said that the government should “continue capital allocation to infrastructure and rest everything is good.”
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Business NewsAuto NewsAuto Expo an opportunity for commercial vehicle industry searching for growth, says top executive
First Published:16 Jan 2025, 09:56 PM IST
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