A NEW RHYTHM

CVs are the pulse of a country's transportation. Now, e-CVs are becoming a rage

- By Molly R

According to CareEdge Ratings, after two consecutive years (i.e. FY24 & FY25) of subdued growth, commercial vehicle (CV) wholesale volumes are expected to recover by around 2-5% in FY26. CareEdge Ratings expects the light commercial vehicle (LCV) segment to grow by 2-4% in FY26, while the medium and heavy commercial vehicle (MHCV) segment is projected to grow by 4-6% during the same period.

Arti Roy, associate director, CareEdge Ratings, said, "The CV industry is expected to experience moderate growth, with overall sales volume likely to improve by around 2-5% yo-y in FY26. The recovery will be driven by increased infrastructure activity, improved rural sentiment on the back of normal monsoon forecast, more attractive vehicle financing due to recent interest rate cuts, and ongoing fleet replacement—particularly in the bus segment—spurred by ageing vehicles, road tax concessions available for new vehicles under the scrappage policy for older vehicles and the transition to electric vehicles (EVs)."

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