Commercial vehicle segment may improve end of FY2014-15
The medium and heavy commercial vehicle segment was pegged to improve towards the end of the current financial year following the improvements in the government spending in infrastructure and manufacturing activity picking up, a top official said today.
“In recent months, we have seen some signs of improvement in M&HCV (medium and heavy commercial vehicle) with corresponding increase in demand for wheels. It is expected that with improvements in infrastructure spending and manufacturing activity towards end of financial year, we may see some improvement in commercial vehicle segment”, Wheels India, Chairman, S Ram said at the company’s 55TH AGM.
Wheels India, a TVS Group company, is largest auto component manufacturers engaged in the
production of wheels for commercial vehicles.
In the passenger car segment, he said, the demand for passenger car steel wheels was expected to be “flat” during the current financial year.
He said strong growth in agricultural output, good support prices lead to strong growth for the agricultural sector.
“In the current year, due to below average monsoon levels thus far, we expect a muted growth in the tractor segment”, he said.
“The company is seeing a moderate recovery in the global construction equipment market this year, while the market for mining equipment is likely to continue to be subdued”, he said.
“In the current year, we expect there will be improvement in both fabricated structures for power plants and wind turbines,” he said.