Mumbai, May 22 (PTI) With the overall economy in general and the manufacturing sector in particular slowly losing steam of late on the back of the rising commodity and energy prices, the growth of the medium and heavy commercial vehicles segment is likely to be moderate this fiscal.
According to a report by Centrum Broking, "the medium and heavy commercial vehicles (M&HCVs) segment will register 10 per cent and 11 per cent volume growth in FY 12 and FY 13, respectively, compared to a full 36 per cent in FY 11."
This is because of the high sensitivity of this segment to IIP growth, coupled with a benign GDP outlook, demand moderation is likely, the brokerage firm added.
The economic stimulus package, pent-up demand, cheaper financing and pre-buying ahead of new emission deadline had seen the auto sector vrooming to set record sales last fiscal.