Commercial vehicle and tractor makers have raised their FY19 growth guidance. Umesh Revankar, managing director of Shriram Transport Finance spoke to CNBC-TV18 about its impact on the commercial vehicle financier.

Revankar said he is very upbeat on the overall sales of both heavy and small commercial vehicles.

"The overall sales growth for heavy vehicles is expected to start from September onwards when the demand for mining and infrastructure activity is high," said Revankar.

According to Revankar, the demand for heavy commercial vehicles (HCVs) could be in the range of 15-20 percent and that for small vehicles would be above 20 percent.

"Since, the company is into financing for used vehicles and new vehicles, they expect the AUM growth to be around 20 percent in FY19 and for FY20 on back of strong demand from both urban and rural market," said Revankar.

Talking about the new axle-norms, he said," The customers in fact are not looking at redesigned vehicles. The existing vehicles are likely to take the additional load, so the demand won’t be much impacted except a bit due to monsoons."