New Delhi, June 26: The commercial vehicle market grew by 25 per cent in April-May 1999 compared to corresponding period last year. However, exports of commercial vehicles dipped by 25 per cent in the same period.Commercial vehicle segment, comprising of light, medium and heavy vehicles, recorded cumulative sales of 18,654 units (including exports) in April-May this year. The figure for 1998 in the corresponding period was 13,954 units. This marks a 25 per cent growth in market, as per latest figures available with the Society of Indian Automobile Manufacturers.
Industry took a beating on the export front, managing to export 694 units in April-May as against 919 units in the same period last year.
Sales in the medium and heavy commercial vehicle segment hit 11,139 units in April-May period, compared to 6,843 units sold last year in the same period, a growth of over 38 per cent. Exports in this segment went up by over 58 per cent, clocking 457 units in April-May, against 188 units in 1998.
Telcocontinued its sway over this segment of the market with sales of 3,974 units in May 1999, followed by Ashok Leyland (2,215). However, on the exports front, Ashok Leyland scored over Telco with the former exporting 166 units and the latter lagging behind with 142 units.
For both the vehicle majors this marked a major improvement in export performance over 1998 when the industry on the whole managed to export just 93 units in May.
In the light commercial vehicle segment, the industry recorded a modest increase in sales in the April-May period. The segment clocked sales of 7,515 units in this period as compared to 7,111 units in 1998, a growth of 5.3 per cent.
Telco continued its sway over the market with sales of 3,121 units in May, as against total industry sales of 4,682 units in the month, a whooping market share of over 66 per cent.
On the export front, industry put up a dismal show recording a 67 per cent drop in performance in the April-May period as against the same period in 1998. The segmentsaw export of just 237 units in April-May compared to 731 units exported in 1998.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.