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India is the fourth-largest commercial vehicle market in the world, and it is also the fifth-largest manufacturer of commercial vehicles. During financial year 2005-06, commercial vehicle segment grew at 36.96%. Medium and Heavy Commercial Vehicles (MHCVs) showed a growth of 39.92% and Light Commercial Vehicles (LCVs) showed a growth of 32.8%.
Commercial vehicles can be categorized into Light Commercial Vehicles (LCVs), Medium Commercial Vehicles (MCVs) and Heavy Commercial Vehicles (HCVs) according to the maximum load they can carry. LCVs gross vehicle weight limit is 7.5 tonne, whereas MCVs' is 25 tonne and HCVs' is 49 tonne.
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