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Indian Commercial Vehicle Industry - For Indian Customers

The commercial auto (CV) industry faced challenging times in 2008-09 - decrease in freight and traveler traffic, lower shipping rates, difficulty in option auto finance, tighter assessment rules for financing - all on the again of the global financial trouble. market research reports

The domestic CV revenue lowered by 21.7 % over the season before. The Goods Service provider (GC) section experienced a decrease of 24 %, while Passenger Service provider (PC) section experienced revenue drop by 7.1 % over the same period past season. The exports too lowered by 27.7 % in 2008-09.

The earnings of the producers came under pressure in 2008-09 – in the first 50 % due to high feedback prices and in the second 50 % due to huge decrease in revenue amounts. The operating profit edge lowered to 5.7 % from 9.2 % in 2007-08. company profile report    

The incitement offers declared by the government like a) excise duty cut from 14 % before January 2008 to 8 % (now thrown again to 10 per cent) b) rendering of the fast modernisation program of the State Road Carry Projects [SRTU] under the Jawaharlal Nehru Nation Urban Rebirth Objective (JNNURM) and c) faster decrease at the rate of 50 % of the yearly allowance for vehicles purchased between Sept 30, 2008 and Sept 30, 2009 guaranteed a resurgence in the industry in 2009-10. market research 

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