Automobile Sector Update - November 2014
Growth intact for passenger segment; CVs rebound
The auto industry continued to build on
the growth trend witnessed over the last two quarters. The passenger
segment viz (passenger vehicles (PV) and two-wheelers (2W) retained
their double digit growth momentum, reporting 12% and 9% yoy growth
respectively during November 2014. Also, the Commercial vehicle (CV)
volumes recovered, reporting the first month of positive growth in the
fiscal which is the key highlight of the month. Continued double digit
growth in the medium and heavy commercial vehicle (MHCV) segment due to
improvement in fleet utilization and
moderation in decline in the light commercial vehicle (LCV) segment led
to the improvement in CV sales.
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