• Indian CV market reset by a decade?

Adding to the already lacklustre performance of the CV industry for much of 2019, and after the new axle norms created considerable surplus capacity in road freight (transport), the nationwide lockdown for Covid-19 from March 20, 2020, is claimed to have reset the CV market by a decade. Mentioned an analyst that it looks like the CV industry performance would fall to the FY2010-11 levels once the country emerges out of the lockdown. Citing the fall of sales across all the segments in FY201920, he expressed that the combination of factors like tepid sales, national Covid-19 lockdown and the transition to BSVI has cast a shadow on the recovery of Indian economy on FY2020-21. The result of this, the national road freight (transport), and in-turn the sale of trucks is expected to be at the FY2010-11 level. In a dull economy, the performance of buses (except maybe for midi-buses) and commercial vans is also expected to be below expectations, he added. Said another analyst that FY2020-21 could, in fact, see the CV industry performing at its worst with lower private consumption.