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Sale of repossessed vehicles is bad news for truck makers
The overall drop in manufacturing–factory output is growing at its lowest in 16 years–is being reflected in the lower capacity utilization of goods carried on trucks, according to one analyst.
Mumbai: Hopes of an early revival in demand for new trucks in a limping economy have hit a hurdle with the easy availability of vehicles that were repossessed from truck owners over loan defaults.
Local sales of commercial vehicles, mainly trucks and buses, have risen to 41,881 units in March from a low of 17,920 in December, lending some cheer to the stressed operations at India’s big truck firms. But an estimated stock of up to 45,000 trucks repossessed in fiscal 2009—double from the year before—is beginning to eat into fresh demand for such vehicles.
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