LCV in India
Tuesday, December 9th, 2008According to our new research report, ‘Indian Automobile Sector - A Booming Market’, LCV production in India is expected to take off in a big way in coming years. In fiscal 2007, high demand for LCVs in both domestic and international markets raised the total production of commercial vehicles despite a fall in medium and heavy segments during the same timeframe.
Indian LCV manufacturers are mainly targeting South Asia, the Middle East and Africa to sell their finished products as these regions are demographically similar to India. Thus, LCVs, which are made keeping Indian roads in mind, will face lesser difficulties in acceptance by people and perform in these regions. Moreover, LCVs could be utilized in the regions for other mode of goods transportation as well due to their body size. Besides, these regions are undergoing massive infrastructure development, creating large potential opportunities for commercial vehicles, especially the lighter ones as lower import rates are charged on LCVs.