New emission norms and the vehicle scrappage policy are among the triggers that can provide a fillip to the commercial vehicle industry over the next couple of years.
Growth in the financial year 2018-19 will continue to be strong at 12-15 percent and the subsequent year could be even stronger as customers advance buying decisions ahead of the implementation of Bharat Stage VI emission norms in April 2020, Ashish Nigam of Axis Capital told BloombergQuint.
Thereafter, the industry could be in for a tough time, he warned. “FY21, to my mind, could be a downcycle year because after five years of strong growth, you will also have the pre-buys and price increases behind you,” Nigam said.
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