The commercial vehicle segment in India has witnessed an upper trend than that of other vehicle categories in the automobile industry. It is projected to touch double-digit growth as the medium and heavy commercial vehicle (M&HCV) is seeing robust growth in sales. Karan Asrani, CEO of Krishna Group believes that the rise in infrastructure is one of the vital reasons that will keep the sales of commercial vehicles increasing during the next fiscal year.
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According to the Mumbai-based entrepreneur, the automobile industry will touch the double-digit volume target as the economy is radically improving after the recovery from the Covid-19 crisis. Moreover, Mr. Asrani further stated that MHCVs will witness sales growth by approximately 40 per cent because of the construction of roads, state and national highways.
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Not to forget, the BJP government is all set to accomplish the ambitious project of the Delhi-Mumbai Expressway which is 1350 km long. The 8-lane wide under-construction expressway will make transportation of commercial vehicles seamless from India’s capital city, New Delhi to the country’s financial city, Mumbai. “It will eventually see a spike in the sales of commercial vehicles. Such developments are great for the automobile and infrastructure industry”, added Mr. Asrani.
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Earlier last week, the news came that automobile giant Tata Motors will initiate a price hike for its commercial vehicle range. The company is said to increase prices approximately by 2-2.5 per cent from April, and the price range will differ as per the model and variant. While the price hike is minimal, Mr. Asrani’s views are that there has been a steep rise in the overall input costs and manufacturing costs of commercial vehicles across the country.
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Interestingly, Karan Asrani has an association with Mahindra & Mahindra and Tata Motors along with other key brands including My TVS and Mahindra First Choice. His company Krishna Group deals with the sales of both passenger and commercial vehicles. Much before getting into the automobile business, the entrepreneur worked with Religare Securities, a stockbroking firm in Mumbai.
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Besides the robust growth of the commercial vehicle category in India, Karan Asrani had recently expressed his opinion on the rise of e-mobility in India. Taking a similar route to European countries and China, the entrepreneur feels that India will reduce pollution levels by welcoming the EV sector, thereby taking care of the environment and nature.