Absolutely unfazed as it were by the widespread slowdown hitting virtually all industry sectors without exception, Indian commercial vehicle manufacturers, both the existing and new entrants, are bracing for fiercer competition ahead.
The last one decade has witnessed foray into the Indian CV segment by a number of local and overseas manufacturers with a view to exploiting the enormous potential it offers. True, India is reckoned the fifth largest CV manufacturer.
With still more players waiting in their wings to enter the fray, competition is hotting up day by day, and the only viable option left with different companies is introduction of new sophisticated vehicle models catering to the varying needs of customers.
Tata Motors, India’s largest CV manufacturer, has just launched six new heavy trucks in order to retain its market hold. Of them, the Tata LPT 3723, a 5-axle rigid truck, and the Tata PRIMA 4938.S are so well designed as to virtually transform Indian trucking. On its part, Ashok Leyland, which continues its thrust on the DOST, the popular CV that just completed its first year of successful running, is bent on producing a range of variants on the DOST platform. The German major Daimler rolled out the much-awaited BharatBenz range a month ago with the sole idea of garnering a sizeable market share in the ever-expanding truck segment. As for the Swedish leader Volvo, the journey never ends. Its recently introduced Volvo 9400PX, India’s first multi-axle coach, is sure to make its mark with its special customer appeal. VECV, the JV between Volvo and Eicher, continues to bet on various new product developments, particularly in the heavy duty segment. This has been more than confirmed by the company’s successfully acquiring a market share of 3.8 per cent in the segment in the first eight months of the current year. Force Motors has unveiled the Traveller 26 in a move to maintain its leadership in the van segment. Also, MAN and Scania are expected to introduce their range of India-specific vehicles shortly.
The mood is really upbeat in the Indian CV industry. The ensuing festive season is of course a morale-booster. But what specially motivates the CV segment to go ahead with its new product launches despite odds like the current slowdown is its confidence that it has the vigour and verve to re-emerge stronger sooner than later. It may be recalled that the Indian auto sector, particularly the CV segment, was among the first to come out of the worst-ever world recession of 2008 by registering a quicker turnaround.