Commercial vehicle sales slip
Sales of medium and heavy trucks fell 30 per cent in November, the steepest fall seen since the height of the global financial crisis in 2008-09, as slowing industrial activity, curbs on mining and delays in infrastructure projects force buyers to postpone purchases. The trucks segment has suffered deeply due to a stagnant economy and slumping industrial activity with truck purchases at its lowest since March of 2009, despite the highest ever discounts of Rs 40,000 to 1.75 lakh. Tata Motors revealed a 40 per cent drop for November 2012 with sales of 9,495 units compared with over 16,000 units in November 2011. Vendors supplying to the top three truck makers in India are of the view that there is an under-utilisation in capacity of around 30-35 per cent across the sector.