In an interview to CNBC-TV18, Siddharth Lal, CEO, Eicher Motors Ltd says the hike in excise duty to 12% announced in Union Budget 2012, along with inflationary pressures and cost of raw materials is likely to lead to a subdued quarter for commercial vehicles (CV).
Sales of CVs - mainly trucks, buses and lighter cargo vehicles grew 22% in 2011 year-on-year (YoY), higher than China
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