Domestic Commercial Vehicle Industry Outlook

According to a recent report by rating firm Icra, the domestic commercial vehicle industry is poised for a 3-5% year-over-year growth in wholesale volumes by FY26. This optimistic forecast comes after a period of stagnation in FY25, attributed to a demand slowdown in the first half of the fiscal year due to the general elections.

The report highlights the resilience of the commercial vehicle sector, despite the challenges faced in the previous fiscal year. With the elections now behind us, the industry is expected to rebound, driven by various factors including economic recovery and increased infrastructure spending.