It has been a slow start for commercial vehicles in 2019 but the segment is expected to find momentum going forward, said Girish Wagh, president- commercial vehicles unit, Tata Motors.
Speaking to CNBC-TV18's Jude Sannith, Wagh said FY20 could see growth in single digits as the BS-6 pre-buying effect will kick in by the second half of FY20.
“The commercial vehicle demand generally depends on this mix of headwinds and tailwinds, so sometimes some factors are headwinds and sometimes they become tailwinds. Some of the factors like liquidity, slowing of some sectors in the economy have become headwinds in recent past,” he said.
Also Read: CV sector to grow in single-digits through FY20, says Tata Motors
Tata Motors has been banking heavily on the SCV (small commercial vehicles) segment, given that the Tata Ace continues to see growth, with a 62 percent uptick in sales for FY19.
Talking about growth forecast, he said, "Intermediate and light commercial vehicles (ILCV) segment is likely to do better followed by SCV. Medium and heavy CVs have a number of headwinds, which we are hopeful will move away as we go ahead.
“Despite all this most experts are predicting single-digit growth for the entire CV industry in this financial year,” said Wagh.