Commercial vehicle industry volumes to see 7-10% growth in FY24: Icra ...Middle East

The commercial vehicle industry volume is expected to grow in the range of 7-10 per cent in the next financial year, rating agency Icra said on Tuesday. The volume growth would be on account of government infrastructure spending, replacement demand, back-to-school and office scenarios and e-commerce expansion, it noted. The growth will, however, moderate from 24-26 per cent in the current financial year, it added. Icra noted that the growth trends were visible in third quarter of the current fiscal, with wholesale dispatches reporting a growth of 16 per cent on a year-on-year basis, supported by replacement demand, improvement in the macroeconomic environment, and healthy traction in the und

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