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Journalism of Courage
Volvo,world8217;s second largest heavy duty truck makers expects to have flat growth for its premium truck segment in India this year,a top company official has said.
8220;We were growing about 20 to 25 per cent annually.
This year we expect very flat growth although we don8217;t expect negative trend. This is despite the fact that the heavy duty truck market in India has declined by 50 per cent in first five months,8221; Somnath Bhattacharjee,President,Volvo Trucks India,said.
Bhattacharjee,who was in Goa yesterday to inaugurate,Svenska Technologies,a new dealership for Volvo Trucks,said that Volvo had a marginal dip in the first five months this year.
8220;The marginal dip was in April and May this year. Till March and then in April-May,due to the general elections,our growth was low because most of our sales are for large corporate and contract driven,8221; Bhattarcharjee said.
He said that the condition during general elections was not of a slowdown.
8220;The award for the contracts before general elections was deferred. It was not a slowdown but deferment of purchases which are now catching up in June and July,8221; he said.
