Domestic commercial vehicle wholesale volumes to grow 4-6% in FY27: Icra

The domestic commercial vehicle industry's wholesale volumes are expected to register moderate growth of 4-6 per cent year-on-year this fiscal, ratings agency ICRA said on Friday.

The broadened base effect in the second half of the previous financial year is likely to result in a year-on-year contraction in volumes in H2 FY27, ICRA said.

This is despite a strong 30.7 per cent year-on-year growth in wholesale volume in August this year, while retail volumes rose 20.1 per cent year-on-year, ICRA said.

While medium and heavy commercial vehicles, and light commercial vehicles are estimated to record growth of 1-3 per cent and 6-8 per cent, respectively, bus volumes are likely to see 3-5 per cent YoY growth during the fiscal, it said.

ICRA said CV wholesale volumes grew by 23.4 per cent year-on-year in the first five months (April-August) of FY2027.

The growth momentum in domestic CV sales volume was supported by infrastructure execution, mining activity, e-commerce-linked logistics a