CV Industry hits speed bump in April 2023; road ahead may be smoother: ICRA
Despite the slowdown in wholesale volumes in April 2023, the Indian CV industry is expected to grow by 7%-10% in FY2024 considering the healthy freight availability, and the significant fillip to infrastructure development in the Union Budget 2023-24. The mandatory scrapping of Government vehicles older than 15 years, with effect from April 1, 2023, may provide some support to industry volumes.
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