Indian Commercial Vehicle Strategy Analysis FY 2016 is the latest report give in-depth Technical and Market information. M&HCV Industry seeing strong demand conditions powered by constant replacement demand and initial fleet expansion due to positive market sentiments. Growth was driven by volume expansion across all application segment. In FY 2016, CV Industry grew by 12%, M&HCV segment grew in the double-digit of 30%, LCV segment is almost flat by registering 0.30% growth.
On the other hand, LCV segment continues to weaken. Some segment showed mix response of positive and negative growth. Tata Motors is the market leader in Commercial vehicle segment with more than 44% in FY 2016.
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