Despite COVID-19’s impact, there is good cause for optimism in India’s commercial vehicle (CV) market. Before the pandemic, fiscal year (FY) 2019 saw all-time high heavy-duty truck sales in the country and though the next 12 months experienced an understandable dip, automakers in the region have reported better than expected results of late. For instance, Bajaj Auto sold 31,308 CVs in May 2021 alone, which represented year-on-year growth of 118%. Ashok Leyland ended the year strongly; its FY2021 may have been in the red but in Q4 the OEM saw growth of 550%.
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