a firm modification, producing,motors, jeeps, utility vehicles in an example of"
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A commercial vehicle is a vehicle, usually motorized, designed to perform a specific task more effectively than a passenger car. Sometimes referring to a small, low-sided truck
- Decades ago, hatchbacks were hot cakes for vehicle manufacturers. Then the limousine.
- Now it's all about Commercial Vehicles (UVs), especially Sport Utility Vehicles (SUVs). More, under four meters.
- Segment growth exceeded overall auto sales and the trend is expected to continue, with SUVs expected to grow twice as fast as overall auto sales.
- The UV segment is expected to grow exponentially to 1.5 million units per year by 2023.
- UVs include SUVs, mid-size, multi-purpose, and premium vehicles. A dozen UVs are expected to hit the market soon, priced at between Rs 7,000 and Rs 6.5 crore over the past five years, the compound annual growth rate (CAGR) for passenger car sales has been around seven per cent.
- The SUV segment alone grew by 16 per cent. Led by compact SUVs four meters long or less.
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