After starting the year on a muted note, given the impact of demonetisation and implementation of the goods and services tax (GST), growth picked up across key segments in the automobile sector in 2017. While the two-wheeler space registered a growth of seven per cent, that of commercial vehicle (CV) and passenger vehicle sales were up nine per cent each last year. Within the CV space, medium and heavy commercial vehicles (MHCV) grew at a modest six per cent year-on-year due to lower replacement and weak freight demand in the first three quarters of 2017 on account of the ...
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