Slowdown hits CV makers
The country's commercial vehicle (cv) makers have been hit hard by the slowdown. Starting April 2012, sales of medium and heavy commercial vehicles (M&HCVs) fell nearly 12 per cent over the same month in the previous year, the fall has been becoming steeper by the month. Sales of large trucks are driven by investments in mining and infrastructure. Both these sectors are stagnant as the mining sector is hit by various scams and subsequent court rulings, while the infrastructure sector is hit by the economic slowdown. In April-September of this fiscal, the mining sector declined 2.5 per cent while the manufacturing sector grew 0.1 per cent over the same period the previous year. Some believe that a turnaround in the economy and, consequently the fortunes of the two sectors, can be expected only in the next financial year, probably in the second quarter, after a new government is in place at the Centre.