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Oil prices may impact growth in commercial vehicle segment, says Tata Motors

The intermediate and light commercial vehicle (ILCV) segment is growing at fast phase in the last one year, said Girish Wagh, president, commercial vehicles business unit, Tata Motors.
“We had a market share of 44% in ILCV segment last year and it grew by 2.7%, said Wagh to CNBC-TV18.
Talking on commercial vehicles (CV), he said this segment has seen a steady growth this year and expect this financial year to end growth in single high digit or low double digit.
He added that CV segment have seen a growth of 70 bps in market share last year.
But increasing oil prices and high commodity prices might impact growth in the CV segment, said Wagh.
On small and light commercial vehicle segment, he said company have taken a price rise of 1-3%.
The company may continue heavy discounting and will focus in cost cutting measures to impact margin, he said.

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