Government regulations have continually pushed fleet management companies to replace their older fleet of CVs with newer vehicles, leading to an increase in the sales of CVs. Indian CV shipments increased by 25% year-on-year (YoY) in 2018. Tata Motors, Ashok Leyland, and Volvo-Eicher registered a growth of 27%, 29%, and 34%, respectively (Fig. 1). Both heavy commercial vehicle (HCV) and light commercial vehicle (LCV) segments saw an increase.
From April 2020, India will be switching to BS-VI emission norms, equivalent to Euro-VI. Heightened safety norms also have required the OEMs to invest in offering mandatory safety features like ABS (anti-lock braking system) on their products. OEMs and oil refining companies, who have invested billions of US dollars to supply BS-VI grade fuel, will need time to recoup their investments before gearing up for another mandatory technological upheaval.
Key component additions
Based on government regulations and technology adoption, the following are the main components which will increase the electronic component share in commercial vehicles:
Bu hikaye MOTORINDIA dergisinin August 2019 sayısından alınmıştır.
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Bu hikaye MOTORINDIA dergisinin August 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
ATS ELGI launches new range of equipment for CV segment
GARAGE EQUIPMENT
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