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Liquidity tightening may hit the brakes on sales of heavy trucks
Mumbai, Nov. 23 -- Aliquidity crunch in India may dent sales of heavy trucks, said industry executives, as factors such as financial woes at Infrastructure Leasing and Financial Services Ltd (IL&FS) and currency volatility threaten to hit one of the fastest-growing automobile segments. Almost 100% of heavy truck purchases are financed and with small financiers struggling and bigger financiers raising loan rates, fleet operators are forced to defer purchases, the executives said. Heavy trucks comprise 36% of all commercial vehicles sold. "Few headwinds such as the oil price increase and liquidity tightening (credit availability as well as interest rate) are challenges which have dampened the sentiments to some extent since the last few weeks...
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