CV sales to see single-digit growth in FY25: VECV MD

COMMERCIAL vehicle (CV) sales are expected to grow at a strong single-digit in FY25 after the industry clocked the 1 million unit mark in FY24, said Vinod Aggarwal, managing director of VE Commercial Vehicles, in an interaction with Arshad Khan.

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Aggarwal who is also the president of auto lobbying body SIAM said the impact of elections is limited to only three months and once the results are declared, fresh buying will take place. He said the export market for India's CV industry has hit rock bottom and from here there can only be improvement. In the interaction, he spoke about VECV's capex plans and the electrification process. Edited excerpts:

CV sales have been under pressure for the past few months. Is it due to elections or the sector has entered into a downcycle?