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India Ahead Of China In Commercial Vehicles.
China overtook US to become the world's largest automobile market and also pushed Germany aside to become the biggest exporter of manufactured goods and now ready to become the world's second largest economy by poking at Japan. China is one big nation which is coming out of recession faster than other countries. But, India toppled China in commercial vehicles sales!
In India, the sales of commercial vehicles rose 77% in the first five months of 2010 surpassing the 60% growth of commercial vehicles sales in China. Therefore, India leads in the trucks sales race. According to Pawan Goenka, president of the Society of Indian Automobile Manufacturers, SIAM is expecting stronger growth in the segment in the coming months, as the market would be led by new-generation trucks being introduced by several global companies.
Mahindra and Mahindra has entered the truck segment with its world truck Navistar. Foreign truck makers like Daimler, Volvo, MAN, Hino Motors and Kamaz Vectra have plunged into the Indian commercial truck market. The competition is heating up between the domestic truck makers and the International truck makers in providing better, durable and easy to maintain trucks.
We know that, the sales of commercial vehicles is the measuring scale of a country's economic activity, the more the sales, the greater is the economy growth. India, being a economically stable country registered a GDP growth of 8.6% in quarter to end-March and this year's prediction is 9.5%. This growing GDP promises that there will be increase in bulk transportation of commodities and hence , will demand more new trucks to drive the freight market and that is valued at more than Rs. 3 lakh crore and growing at nearly 20% a year.
Apart from the sales point, when looking at the widespread market of China, it still continues to be the largest truck market where every second medium duty and heavy duty truck manufactured in the world finds a buyer in China. China has got 3 largest truck manufacturers in the world. China also sold more than 30.41 lakh units during Jan - May 2010 period as against India"s 1.23 lakh units sales. Nearly 8.67 lakh trucks were sold in China in 2009 while 5.31 lakh Indian trucks went to a buyer.
Ashok Leyland"s whole time director Vinod Dasari says that ales are strong and better infrastructure is expected to result in higher demand for all types of trucks, especially the bigger ones in the 25-49 tonne segment.
Now, India also got the World"s largest truck maker, Daimler which will launch its fully-built trucks in India in 2011. Also, the ease of availing finance and raise in spending on infrastructure are anticipated to follow in the coming months. These factors are confidently sufficient for India to lead China in the economical growth front.
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