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M&M SEES BUMPER YEAR FOR HEAVY VEHICLES


Mahindra & Mahindra (M&M) sees the planned incentive scheme of the government for new vehicles coupled with new emission norms, revival in road construction sector, debottle-necking of mining sector and expected implementation of the Goods and Services Tax (GST) helping the commercial vehicle sector to grow by as much as 50% in the current year.

"We are anticipating growth to zoom up to anything between 20% and 50% in the heavy commercial vehicle segment with the proposed cash for clunkers scheme, likely pre-buying before Bharat Stage 4 emission standards which sets off in April and the expected implementation of the GST regime plus a good monsoon," Nalin Mehta, managing director and chief executive officer of Mahindra Truck and Bus Division, said on the sidelines of the Blazo range of HCV trucks.

The transport ministry has recently floated a concept paper for the cash for clunkers scheme, formally being called the Voluntary Vehicle Fleet Modernisation programme that plans to incentivise people to replace old vehicles with Bharat Stage 4 compliant vehicles.

The expected benefit from such a scheme would be highest for heavy trucks as compared with light commercial vehicles or passenger cars. "Implementation of scheme for medium & heavy commercial vehicles would result in 17% reduction in CO emissions," the concept paper said, adding that benefits for LCVs and passenger cars would be and 4% and 2% in CO emissions, respectively. Mehta's growth forecast range is broad as factors like how monsoon fares and whether GST gets implemented by April are still uncertain."If these conditions are satisfied, growth could touch 50%," he said.Last year the HCV market grew by 32-33%.

 
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