Indian commercial vehicle industry poised for upcycle as replacement demand builds: Nomura
New Delhi [India], December 25 (ANI): The Indian medium and heavy commercial vehicle (M&HCV) industry appears to be entering the next upcycle, with industry volumes estimated to grow by around 8 per cent year-on-year in FY26 and 10 per cent in FY27, following a period of modest growth, according to a report by Nomura.
The report highlighted that improving industry fundamentals are likely to support demand ove