Daimler Says India Truck Demand to Take Three Years to Return
- Truck owners with small fleets risk going out of business
- Construction, e-commerce sectors to help revive truck demand
Photographer: Dhiraj Singh/Bloomberg
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Daimler AG sees industrywide truck sales in India taking at least three years to recover, an outlook that backs up the central bank’s reading of an economy ravaged by the coronavirus pandemic.
Commercial vehicle sales will start recovering next year and it may take at least three years to reach its peak-level, Satyakam Arya, the chief executive officer of Daimler’s India commercial vehicles division, said in a phone interview Friday. The German automaker, which sold a little more than 14,000 trucks last year, sees construction, mining and e-commerce sectors leading the demand for trucks, he said.