CV exports in Q1, 2016

CV exports in the first quarter of the current fiscal have not been very assuring. Higher exposure to slowing oil economies is claimed to be one of the many reasons why the Indian CV manufacturers are finding it tough to maintain their export momentum. Some of the African economies that the Indian CV manufacturers have an exposure to, are also claimed to be slowing down. In April, the export of commercial vehicles saw a year-on-year fall of 2.68 per cent from 7,014 units to 6,826 vehicles sold in the corresponding period last year. In May 2016, 9,150 CVs were exported, clocking a moderate growth of 5.14 per cent, as compared to the export of 8,703 units during the corresponding month last fiscal. In June 2016, 10,183 CVs were exported, clocking a growth of 17.32 per cent, as compared to the export of 8,680 units during the corresponding month last year.