Transporters embracing e-payments, CV's should recover: Eicher

Demonetisation has taken a toll on Eicher Motors’ arm VE Commercial Vehicles with monthly total CV sales dipping 30 percent at 3,175 units in November. Total sales during the month slowed down 12.7 percent on-year, but VE Commercial Vehicles CEO Vinod Aggarwal is positive of a sales rise in December.

Aggarwal’s optimism stems from transporters getting used to cashless economy through modes such as prepaid cards, e-payments and RFID toll cards. He said going ahead the CV industry will recover from the demonetisation hit.

With CV fleet owners stretched for cash flows and concerns on debt servicing of loans, the banking system lent a strong support to the CV industry, Aggarwal said.

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