Light commercial vehicle (CV) is picking up due to essential goods transportation, said Ramesh Iyer, VC and MD of Mahindra and Mahindra Financial Services, on Tuesday.
“We are not seeing demand pick-up in medium and heavy commercial vehicles. Light CV started picking up earlier because essential goods transportation is happening, interstate movements have started,” said Iyer in an interview with CNBC-TV18.
Tractors are seeing good demand due to a pick-up in farm income, he added.
On the business front, Iyer said, December was an average month and not as good as October-November where we saw festive demand.
“People will not be able to service their debts on time going ahead as earnings of people are not back to pre-COVID levels yet,” he said.
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(Edited by : Ajay Vaishnav)