LCVs outrace HCVs in sales post-lockdown, here’s why

As lockdowns across India started to ease last year and economic growth started picking up pace month-on-month, the commercial vehicle (CV) goods carrier segment —hit among the hardest within the automotive space — too started growing. However, within the CV segment, sales of light commercial vehicles (LCVs) are picking up faster than those of medium & heavy commercial vehicles (M&HCVs), according to data by the Society of Indian Automobile Manufacturers (SIAM) and companies. For instance, in August and September 2020, while sales of Tata Motors’ M&HCVs contracted 29% year-on-year, sales of its intermediate & LCVs (I&LCVs) contracted just 20%. When the turnaround started October 2020 onwards, the company’s M&HCVs have grown about 15% (Oct ’20 to Feb ’21; to 36,296 units from 31,553 units a year earlier). But I&LCVs grew about 24% (from 18,916 units to 23,509 units).

The full article was originally published on Financial Express