| High excise duty dents medium, heavy commercial vehicle sales
Hit by a hike in excise duty, the sales of medium and heavy commercial vehicles (Mponed purchases expecting a reduction in excise duty, which happened a couple of days ago. 70 per cent to 22,528 units. The Society of Indian Automobile Manufacturers (SIAM) attributed the moderation in the growth in the CV segment to "sluggish sales" of medium and heavy commercial vehicles. 92 per cent during the period. CV sales, a key indicator of economic activity, had grown by 18 per cent last financial year, but they are required to just touch double-digit growth rate in 2012-13, weighed down by a not-so-impressive demand for medium- and heavy-duty vehicles. The total sales of vehicles across categories registered an increase of 10. Mathur notes that the going will be tough in the first six months even in the passenger vehicle segment. Passenger car sales in India witnessed its slowest growth during April in 10 years at 3. High excise duty dents medium, heavy commercial vehicle sales |
Friday, 11 May 2012
High excise duty dents medium, heavy commercial vehicle sales
