1. Home
  2. >

Built to inform

Sign up for the daily newsletters

No, Thank you

Growth likely to be flat this year: Volvo

With the domestic market for heavy duty trucks shrinking by about 50% in the first five months,  Volvo, the world’s second largest heavy duty truck makers expects to have flat growth for its premium truck segment in the country this year, according to Somnath Bhattacharjee, president, Volvo Trucks India.
He added that the company had witnessed a marginal dip in the first five months of the year. “The marginal dip was in April and May this year. Till March and then in April-May, due to the general elections, our growth was low because most of our sales are for large corporate and contract driven,” he said.
Bhattacharjee however clarified that the sluggish market conditions during the general elections could not be termed as a slowdown. “The award for the contracts before general elections was deferred. It was not a slowdown but deferment of purchases which are now catching up in June and July," he stated.
 

Most Popular

Awards

Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore

Conferences

Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

June 2020
10 Jun 2020