Rating agency ICRA forecasts a 4-7% decline in India's domestic commercial vehicle wholesale volumes in FY2025 due to high base effect and weak demand.
Rating agency ICRA forecasts a 4-7% decline in India's domestic commercial vehicle (CV) wholesale volumes in FY2025, driven by a high base effect and weak demand in the initial months. Medium and heavy CV volumes are projected to shrink by 4-7%, while light CV wholesale volumes are expected to fall by 5-8%. Despite this decline, long-term growth drivers like infrastructure development, mining activities, and improved road connectivity remain intact.
June 07, 2024
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