Domestic commercial vehicle industry to see 4-7% dip in volumes next fiscal: Icra
"Icra estimates the domestic CV industry volumes to register 2-5 per cent year-on-year growth in volumes in FY24. Subsequently, the industry's sharp upcycle is expected to plateau in FY25, with a decline of 4-7 per cent in volumes," the rating agency stated.
Icra Ratings Vice President & Co-Group Head Kinjal Shah said he expects the long-term demand for CVs to remain intact. Image Courtesy: Reuters.