CV segment reports healthy volumes prints for May 2022
News: Market leader Tata Motors (TML) reported May 2022 CV volumes of 32,818 units, up 6.4% MoM, with volumes at M&M up 21.5% MoM at 21,149 units (LCV up 22.9%, M&HCV down 10.4%). VECV volumes at Eicher Motors increased 2% MoM to 5,637 units while Ashok Leyland reported volume prints of 13,273 units, up 12% MoM.
Views: The CV space continued its positive momentum with current month’s reading gowing at high single digits. M&HCV segment witnessed broadly flat sequential performance while growth in the CV space was largely driven by the LCV segment. Going forward, with cyclical upswing & greater infrastructure spend by the government and revival in private capex cycle, we expect CV space to report healthy growth in volumes, going forward.
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