Like every major commercial vehicle market, the truck industry in India has been subject to periods of cyclical growth followed by investments in capacity expansion and subsequent phases of correction. The emergence of a global economic crisis in the latter half of 2008 led to a severe impact on the commercial vehicle industry in India. In the second half of fiscal 2009,capacity utilization levels were less than 50%.
In certain cases, especially with smaller manufacturers, production was halted for several days due to a massive inventory build-up and a subsequent inventory flushing exercise towards the end of the year. The impact of the crisis was heightened by the sudden squeeze in credit availability.
This report contains four main sections:
- Indian Truck Market - Buyer behaviour - shifting product preferences - Challenges facing Indian suppliers - Government Policies & regulations.
Also included are detailed profiles of 35 top suppliers in this emerging sector.
