Used vehicles are witnessing demand across tonnage/models, Umesh Revankar, MD of Shriram Transport Finance Company, said in an interview to CNBC-TV18.

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Revankar said demand for intermediate commercial vehicle (ICV) demand has shot up in the last 15 days, but he did not expect as much demand for heavy commercial vehicles either in the new or used segments.

“Last 15 days the demand for ICV has gone up. Normally it caters to e-Commerce and all agricultural output, it is linked to the agricultural movement. It is harvesting time now, the ICV demand will further go up. The heavy vehicle demand - we are not witnessing replacement demand nor the demand in the new segment. I think the HCV demand may be postponed for at least six months ,” he said.

He said disbursements during the second half of this year would be the same as last year, and that assets under management was likely to grow 5 percent for the year as a whole.

First Published:Oct 16, 2020 6:05 PM IST