Commercial vehicle companies eye revival in 2014

CHENNAI: The commercial vehicle industry, battered by its worst slowdown in a decade in the last two years, is beginning to turn around and should end the current financial year either flat or on a positive note.

That's a huge improvement from the 20%-plus negative growth clocked last financial year. According to top industry sources, the top-end tractor trailer segment has already hit pre-slowdown, 2011-level growth once again totting up 52% growth in the first seven months of this calendar.

Vinod Aggarwal, CEO, Volvo Eicher Commercial Vehicles (VECV), said, "Tractor trailer production is back to around 2,000 units a month and the segment was up 23% in July. The tipper segment is also revving up, exports are doing well to help overall growth." In the January-July period, exports, he said, jumped 65%. The overall 5 tonne-plus segment showed a 12% drop in the 7-month period but thanks to the exports growth, overall sales are down just 6.5%. "By the end of the year, the negative growth should come down further to make the final figure either flat or marginal growth," added Aggarwal.

Volvo India