The commercial vehicle market in India is growing just like in any other part of the world. CV industry is getting better as days pass. The process of the improvement and development goes step-by-step in the commercial vehicle industry. The CV industry has to be supported by the proper phase of investments to increase the efficiency of the companies and then it has to be trailed by the required corrections in the product. This segment needs to go through time to time changes and improvements to survive in the market.
Even in the various segments of commercial vehicles, the fastest growing is the light duty vehicle. The reason for light duty vehicles to be high in demand is the usage of the product. Material carried on a LCV is easily available in the market as a light commercial vehicle has less loading space as compared to other product segments of CV. Since a lesser amount of load is required to fill up a LCV it is more suitable for the operators to own a LCV than any other product.
Another reason for the growth of LCV market is the product performance. It carries lesser load so takes less time to travel from one place to another. Light duty vehicle is more fuel efficient than others, so the operator prefer to have more light commercial vehicles. It is also easy for the drivers to drive light vehicles. Any LCV is even easily permitted to move in and around the city, so it becomes more useful for customers also.
Light commercial vehicles are the major contributor in the sales of any automobile company. This segment plays the biggest role in the growth of a company and also contributing towards the country’s economy. CV industry has shown huge positive improvements after the worldwide recession.
Light commercial vehicles being a low cost vehicle are expected to see a growth in the demand also. Companies plan to meet the demands from the market and hence are adopting better technology as compare to the present time. The idea behind this is to manufacture less expensive vehicles with better qualities. It is forecasted that India will become the third largest market of the light commercial vehicle.
Some added benefits of having a LCV are, it is not very expensive, the freight can be easily obtained in the market, the product is more economical to the operator as compared to other vehicles and the most important thing is that light commercial vehicles are easy to get the after sales service which is a major concern for the operators.