Domestic bus sales that have been on a decline for the last 30 months are expected to grow by up to 12 per cent next fiscal on account of economic activity gaining momentum, automobile industry body SIAM today said.
Besides a low base effect, beginning of delivery of buses under JNNURM programme during the next fiscal will be a major factor which would help achieve growth.
“Bus segment is expected to grow by 10-12 per cent in 2015-16. The segment has been in negative territory since last 30 months but with economic activity expected to do well now we really expect the segment to do well,” Society of Indian Automobile Manufacturers (SIAM) Deputy Director General Sugato Sen told reporters here.
Commenting on the 4th edition of Bus & Special Vehicle Show which commenced here today, he said the event would showcase new products and technologies.
“With the bus segment expected to see a turnaround, the event will help the prospective buyers to have a look at new technologies in the segment,” Sen said.
Spread over 3,694 square metres, the three-day long event will see 31 exhibitors showcase their products.
“We expect better footfalls during the event this year as compared to last year as people are more aware of the venue due to the Auto Expo which was also organised here,” Sen said.