CV sales to exceed 2.4 lakh units

India’s market for medium and heavy commercial vehicles ­ a barometer of economic activity ­ is set to create a new benchmark. Sales in the segment in 2016 are projected to surpass the earlier peak of 240,000 units registered in 2011, helped by an expected improvement in infrastructure spending. Sales of heavy-duty trucks grew 36 per cent to 210,000 units in 2015, driven largely by replacement demand and a pickup in movement of bulk cargo like coal, even as sales in the construction segment increased at a tepid pace of 5 per cent. With sub-optimal purchases between 2012 and 2014 beginning to strain the operational capabilities of transporters ­ especially those catering to industries like petroleum-oil-lubricants, logistics and LPG ­ on back of increased consumption, they commenced replacing older vehicles and rebuilding their fleet last year.