For PVs, recovery better than expectation

Commercial vehicles will continue to report double digit decline in August and will continue to drop for the next one or two months, says the VP-Research, Reliance Securities. What is the expectation for passenger vehicles (PVs) ahead of the festive season? Are you pencilling in some sort of a steady growth for August?Yes, for PVs and two-wheelers, the overall demand situation is much better than what we were expecting almost a month or two months ago. Things have improved slightly faster than expected and people were expecting a marginal drop till the first half, whereas industry has already started growing. We expect marginal growth for both the segments -- passenger vehicles and two-wheelers. However, commercial vehicles will continue to report double digit decline in August and will continue to drop for the next one or two months. But for the passenger vehicles, two-wheelers and tractors, the recovery is much smoother compared to expectation.

from Economic Times https://ift.tt/34PSUHq