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Small and light commercial vehicle (CV) markets are showing good growth, despite the overall slowdown in the CV segment, said Mr Umesh Ravishankar, Managing Director, Shriram Transport Finance.
“There is slowdown only in heavy commercial vehicles as manufacturing activity has come down, mining has stopped and there is virtually no infrastructure activity. But small and light vehicles are seeing 15 per cent growth over the previous year,” said Mr Ravishankar. In fact, the specific demand for small and light commercial used vehicles is “quite good”, he said.
But if the heavy commercial vehicles sell aggressively, it will add further velocity in the vehicle finance market too, said Mr Ravishankar.
Medium and heavy vehicles account for 20 per cent of Shriram Transport Finance’s portfolio. The rest mainly comes from LCV.
Last year, the company disbursed Rs 19,000 crore as vehicle finance.
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