Chandra also asked the industry to join hands with the government in this initiative by providing “part funding”.
According to Society of Indian Automobile Manufacturers (SIAM) production of medium and heavy commercial vehicles (M&HCV) declined by 21.2% in the April-July period this fiscal to 93,016 units as against the same period last fiscal.
The same for light commercial vehicles (LCVs) were, however, up by 8.27% to 1,71,719 units during the period.
Total commercial vehicles (CV) production was down by 4.30% to 2,64,735 units during April-July this year as compared to the same period last fiscal.
In terms of sales, during April-July period M&HCV clocked 89,226 units, down 12.75% compared to the same period last fiscal.
However, sales of total CVs grew marginally by 4.74% during the period to 2,48,223 due to good performance from LCVs which stood at 1,58,997 units, up 18.02% as compared to the same period last fiscal.