LCV & HCV
Government focus on agriculture, rural income to sustain tractor demand: Swaraj Engines
The government's agricultural focus in India, along with initiatives to boost rural incomes, is expected to sustain tractor demand despite a 7 per cent industry sales decline reported by Swaraj Engines Ltd. The company's annual report highlights opportunities in the horticultural segment and factors like increased affordability, demand for farm mechanisation, and government efforts to improve agriculture. Swaraj Engines foresees its engine business aligning with the industry's growth trajectory.
Plan to double market share in country: Volvo CE India MD
Volvo CE India aims to double its market share in India's CE sector, currently at 6.5%. Managing Director Dimitrov Krishnan plans to achieve this growth by leveraging the fast-growing infrastructure development in the country.
Expect commercial vehicle volumes to witness 4-7 pc dip this fiscal: ICRA
Hit by a high base of last year and weakness in demand, the domestic commercial vehicle industry is expected to witness a dip of 4-7 per cent in wholesale volumes in the current fiscal as compared to FY23, rating agency Icra said on Friday.
Ashok Leyland rolls out 'Sarathi Suraksha' policy
The policy, classified as an 'Unnamed GPA (Group Personal Accident) policy' covers any driver operating an Ashok Leyland vehicle, providing comprehensive protection for the drivers. The comprehensive insurance policy covers accidental death, permanent and partial disability and also includes a special education bonus for children.
Ashok Leyland to unveil 5-6 new products under LCV segment: MD
Earlier today, Ashok Leyland announced a 16.73 percent rise in consolidated net profit, reaching Rs 933.69 crore in the January-March 2024 quarter, compared to Rs 799.87 crore recorded in the corresponding period of the previous fiscal year.
Escorts Kubota plans to invest up to Rs 4,500 cr in new plant over next 3-4 years
Escorts Kubota Ltd plans to invest up to Rs 4,500 crore over the next three to four years in a new manufacturing plant in Rajasthan's Ghiloth. The plant aims to double domestic tractor production capacity to 3.4 lakh units annually and establish new engine and construction equipment lines. The greenfield project is expected to cost between Rs 4,000 crore to Rs 4,500 crore. Land procurement is slated for this fiscal year, with construction to commence by year-end.
TVS Supply Chain clinches deal to manage VE commercial vehicles' Baggad plant
VE Commercial Vehicles has been associated with TVS Supply Chain Solutions since 2006 for in-plant logistics operations of their truck plant in Pithampur, Madhya Pradesh.
VST Zetor launches new range of tractors
VST Zetor Private Ltd, in collaboration with HTC Investments, introduced three 41-50 HP tractors, featuring a DI Engine and dual-acting power steering. These tractors aim to meet various farming applications in India.
Ashok Leyland plans flurry of launches to boost light trucks market share
Ashok Leyland, the Hinduja Group flagship, is set to introduce six new light commercial vehicles (LCVs) in the next year, aiming to boost its market share in the segment to 25% from the current 20%. Amandeep Singh, president of LCV, international operations, defence, and power solutions at Ashok Leyland, revealed the company's plans to launch a new model of the Dost range every alternate month, starting from this month.
Ashok Leyland sales rise 10 pc in April to 14,271 units
Domestic sales increased 9 per cent to 13,446 units last month as compared to 12,366 units in April 2023, Ashok Leyland said in a statement.
Escorts Kubota to increase tractor prices from May 1
Escorts Kubota plans to increase tractor prices starting May 1, 2024, across various models, variants, and regions. The company's shares are currently trading 2.11% higher on the BSE. Last month, total tractor sales were 8,587, with domestic sales down 16.1%.
Energy, auto companies bet big on LNG trucks
LNG trucks are called long-haul vehicles, as they have a driving range of 600-1,000 km in a single fuel fill, giving them an edge over other fuels. By 2030, India could see 50,000 trucks serviced through 400 LNG retail stations, according to Emkay Research. India has around 4 million trucks operating, of which 1 to 1.5 million would be diesel-run trucks. Emkay Research says 3-5% of this can be converted to/replaced by LNG by CY30, which implies 50,000 trucks.
Ashok Leyland posts 7% dip in sales in March
Ashok Leyland had sold 15,562 medium and heavy commercial vehicles in domestic and overseas markets in March while light commercial vehicles comprised 7,304 units totaling 22,866 units.
Ashok Leyland, Minus Zero partner to deploy autonomous trucking solutions
Ashok Leyland and Minus Zero have formed a strategic alliance to develop autonomous trucking solutions in India. The partnership aims to revolutionize commercial trucking through tailored autonomous solutions for ports, factories, and corporate campuses, with potential for global expansion.
Tata Motors to hike CV prices for offsetting input price pressures
Tata Motors will increase prices for its commercial vehicles by 2% starting April 1, 2024, to offset lingering impacts of past input costs. Tata Motors recently received board approval to demerge into two separate entities, with one focusing on passenger and electric vehicles, including Jaguar Land Rover, and the other on the commercial vehicle business and related investments.
Domestic commercial vehicle industry to see 4-7 pc dip in volumes next fiscal: Icra
Icra predicts a 4-7% decline in domestic CV volumes next fiscal. The industry is expected to see growth in FY24 followed by a decline in FY25. Long-term demand for CVs remains intact, driven by infrastructure, construction, defence, and manufacturing activities.
