If proposals on the fleet modernisation programme for commercial vehicles (CV) are accepted, it could lead to a significant uptick in demand for this segment.
The success of the programme, however, will depend on the age limit of the vehicles, which are expected to be phased out, and the extent of incentives to be offered by the government. Subrata Ray, senior group vice-president (corporate ratings), ICRA, estimated that if vehicles older than 15 years are phased out, it could lead to a sizeable demand for new commercial vehicles, as the population of vehicles over 15 years is ...
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First Published: Wed, January 10 2018. 00:00 IST
