ICRA maintains negative outlook on passenger vehicle, CV January 03, 2020 at 08:20AM

Rating agency ICRA on Friday maintained a "negative" outlook on the passenger vehicle (PV) and commercial vehicle (CV) segments while maintaining a "stable" outlook on the two-wheeler OEMs and tractor segments. The negative outlook on the PV sector was due to the slowing economic growth, the sharp decline in wholesale despatches to destock dealership inventory as well as tepid retail demand, Icra said in a release.