<p>Addressing the media Tuesday, Volvo Trucks India president Somnath Bhattacharjee said the demand for heavy commercial vehicles had dropped significantly, and Volvo had not been spared.<br /><br />"This year we expect a flat growth, as India's heavy duty truck market has declined 50 percent in the first five months," Bhattacharjee said. <br /><br />"We don't see a slowdown in the premium truck market because it is contract-driven. We cater to big corporate and high priority segments like mining."<br />Bhattacharjee was in Goa to unveil Volvo's new dealership in the state, which has a sizeable mining industry that requires heavy vehicles. <br /><br />Maintaining that Volvo has done its homework as far as India was concerned, he said his company has created a niche segment in the country. <br />"This segment is fundamentally connected to power, infrastructure and urban development, which have not been much affected by the meltdown."<br /><br />Bhattacharjee said the recent parliamentary elections had impacted sales as decision-making had been slackened, but added that the situation would improve.<br />"The general elections ensured the contracts and other tenders were deferred. All purchases were postponed, but June and July should see us fare better," he said. <br /><br /></p>
<p>Addressing the media Tuesday, Volvo Trucks India president Somnath Bhattacharjee said the demand for heavy commercial vehicles had dropped significantly, and Volvo had not been spared.<br /><br />"This year we expect a flat growth, as India's heavy duty truck market has declined 50 percent in the first five months," Bhattacharjee said. <br /><br />"We don't see a slowdown in the premium truck market because it is contract-driven. We cater to big corporate and high priority segments like mining."<br />Bhattacharjee was in Goa to unveil Volvo's new dealership in the state, which has a sizeable mining industry that requires heavy vehicles. <br /><br />Maintaining that Volvo has done its homework as far as India was concerned, he said his company has created a niche segment in the country. <br />"This segment is fundamentally connected to power, infrastructure and urban development, which have not been much affected by the meltdown."<br /><br />Bhattacharjee said the recent parliamentary elections had impacted sales as decision-making had been slackened, but added that the situation would improve.<br />"The general elections ensured the contracts and other tenders were deferred. All purchases were postponed, but June and July should see us fare better," he said. <br /><br /></p>