India moves ahead of China in CVs
While China has been leading at the pole position when it comes to the growth in the automobile industry for the past many months now but the Indian market has recently zoomed passed ahead of the dragon turf in the CV segment.
There is no denying to the fact that China passed ahead of the US market to become the world's biggest automobile market, toppled Germany as the biggest exporter of manufactured goods and is very much on the track to become the world's second-largest economy by nudging out Japan but the CV segment in India is perhaps giving a tough competition to the Chinese economy.
While the commercial vehicles in India rose 77% in the first five months of 2010 from a year ago level, it only boosted the sentiment in the CV segment as a whole but also passed ahead of the 60% surge in China. Pawan Goenka, president of the Society of Indian Automobile Manufacturers recently said that the growth in the CV segment is expected top reach new heights in the coming months.
Ashok Leyland's wholetime director Vinod Dasari said that the growth is very high and as the infrastructure demand is going even higher it is believed that the demand for trucks will rise even in the coming months.