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A commercial vehicle is any vehicle that is used to transport goods or passengers for a fee. Transportation plays an important role in any economy, from delivery and distribution to work vehicles.
Delivery and distribution trucks, private hiring and taxis, construction and plant, work vehicles, agricultural, public services, and public transportation are all examples of popular commercial vehicles.
The Global Commercial Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Volvo Trucks continues to be a global leader in the deployment of zero-emission trucks. In North America, the company is now offering an improved version of its Volvo VNR Electric, which has an expanded range of up to 85 percent and faster charging.
As the primary overseas market transitions to new emissions requirements in April 2022, Mitsubishi Fuso Truck and Bus Corporation announces the launch of an all-new line of Euro IV-compliant light-duty and medium-duty trucks for Indonesia.
In the United States, Nissan unveiled two of its most famous models: the all-new 2022 Frontier mid-size pickup and the all-new 2022 Pathfinder SUV. Nissan NEXT, the firm’s global initiative to modernise its product lineup, as well as its business and company culture, is taking another step forward with these new entries in two burgeoning vehicle segments.
Daimler Truck Holding AG (“Daimler Truck”), one of the world’s major commercial vehicle manufacturers, has opened the Daimler Truck Innovation Facility India (DTICI) in Bangalore, India, as a product engineering and IT centre. Dailmer’s revenue climbed to € 39,8 billion in 2021, up 10% from € 36,0 billion the previous year, because of a large increase in unit sales volume.
The commercial vehicle (CV) segment, which has been on a rocky road, is poised to make a strong comeback. Eicher branded trucks and buses marked a 24.9 percent increase in sales (YTD growth of 38.9 percent ). Tata Motors’ Commercial Vehicle domestic sales increased ~15% higher than the previous quarter (Q2 FY22) and 10% higher than the same quarter last year (Q3 FY21).
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