The rise in demand for small commercial vehicles in October follows the trend in the passenger vehicle sales seen in September and is a strong indicator of the incoming economic recovery.
Small commercial vehicles demand picked up in October due to local goods transportation resuming back to pre-Covid levels, auto industry body FADA said. The rise in demand for small commercial vehicles in October follows the trend in the passenger vehicle sales seen in September and is a strong indicator of the incoming economic recovery. Commercial vehicles retail sales in October rose 12.3 per cent on-month; passenger vehicle sales rose 27.7 per cent; and two-wheeler sales remained flat, a Care Ratings report showed.
“Surge in 2-wheelers and passenger vehicle sales are the signs of consumer demands in specific sectors where linkage of the economy is not as high as that in commercial vehicles,” Rajat Bahl, Chief Ratings Officer of Brickwork Ratings, had told Financial Express Online just before the release of the October retail sales figures. If commercial vehicle sales surge, it will be a very strong indicator of economic revival, Rajat Bahl had added.
Source: Financial Express
