Statistics from the Indian automotive industry show that the increase in sales of commercial vehicles in India since this year has clearly exceeded China.
Since about last year, China has occupied a leading position in almost every field. If it compares with most other countries that have fallen into recession, this development is even more pronounced. The report said that China has surpassed the United States to become the world's largest auto market and has surpassed Germany as the largest exporter of commodities. It is also approaching Japan to become the world's second largest economy, but despite this, there is a field in which China must Bragging of the right to hand over to India is the commercial vehicle market.
According to the data compiled by the Indian Automobile Manufacturers Association, due to the huge demand in the freight market, the sales volume of commercial vehicles in India in the first five months of this year increased by 77% over the previous year, exceeding the growth rate of 60% in China. “In the coming months, as the market will be led by a new generation of trucks launched by some international manufacturers, we expect this sector to grow even stronger,†said Pawan Goenka, chairman of the Indian Automobile Manufacturers Association.
This sales volume of commercial vehicles is seen as a “barometer†for the economic activities of these auto companies and gains from steady growth in India. India’s GDP growth rate reached 8.6% in the first quarter. The International Monetary Fund also expects GDP growth in India this year. It will reach 9.5%.