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India Rides High On Commercial vehicle Sales
Meanwhile, the country's biggest rival in the international market, China saw a sales dip of 10% for the same year. On the other hand, US sales showed positive signs with a growth of 13%. The United States is one of the largest Commercial Vehicle market in the world.
President of the Society of Indian Automobile Manufacturers and chairman of country's third largest CV maker Eicher Motor said, "We are expecting a stronger growth of commercial vehicles in the coming months even if there is a slight blip due to rise in excise from the recent budget. With the Indian economy still growing reasonably well in percentage terms all signals lead to positive demand in coming months with a higher focus on the intra-city light cargo and passenger vehicles."
Indian commercial vehicle market has seen the entry of many foreign investors like Daimler AG, Volvo, Scania, MAN, Navistar, Kamaz Vectra and Hino Motors. Among manufacturers set to enter the market in a few months are Chinese players like Sinotruk International, Shandong Shifeng and Beiqi Foton Motor, the largest Chinese truck maker by volume.
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