VE COMMERCIAL VEHICLES
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
BII bullish on Indian EV ecosystem, expects to invest USD 300 mn in 3 yrs: MD Abhinav Sinha
Abhinav Sinha of British International Investment envisions India surpassing China in EV adoption by 2030, ahead of Europe and the US, driven by government support and cost considerations, emphasizing the country's potential for significant growth in electric transportation.
Flying windows, fatal turbulence: Is flying in planes safe right now? Here is how to understand disruptions
Air travel disruptions, from minor mechanical issues to severe incidents, often cause anxiety but are rarely dangerous. Aviation experts stress that these problems are usually manageable due to rigorous safety protocols and backup systems, ensuring that flying remains one of the safest modes of transportation despite occasional alarming events.
First to indicate good or bad about economy, as it stays strong, ignore noises about politics: 6 auto stocks with upside potential of upto 34 %
Unlike the US and some other western countries, where there is a separate transportation index which also has an element of logistic companies in it and is watched very closely, in India we don't have a very popular transportation index. The reason why transportation index numbers are extremely important is because there is enough historical evidence to show that auto industry numbers lead indicators of what is happening in the economy. That is why if one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. At this point and in near term there will be noises about political instability, but better ignore it.
Bengaluru airport suspends controversial vehicle entry fee after protests
BIAL suspends entry fee for arrival pick-up lanes at Kempegowda International Airport after protests. Charges for vehicles based on registration plates was criticized. Speed trap cameras have been installed on Kempegowda International Airport Road to curb road traffic accidents
Mahindra Group to invest Rs 37,000 crore in auto sector, plans to launch 23 new vehicles by 2030
Mahindra Group announces plans to invest Rs 37,000 crore in the auto sector over the next three years, with a focus on launching 23 new vehicles by 2030. The investment includes new ICE SUVs, BEVs, and light commercial vehicles. The company emphasizes the importance of ICE models in the short term while investing significantly in the EV segment. The expansion plans also include enhancing manufacturing capacity and remaining open to future mobility trends, including hybrid vehicles. The company welcomes India's new EV policy and emphasizes its commitment to the 'Make in India' initiative.
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Eicher Motors Q4 results: PAT jumps 18% YoY at Rs 1,070.45 crore. Rs 51/share dividend announced
Eicher Motors recorded an 18% YoY increase in consolidated net profit to Rs 1,070.45 crore for Q4 2024, with sequential growth of 7.5%. Total revenue reached Rs 4,256.04 crore, up 12% YoY. The board declared a final dividend of Rs 51 per share, totalling Rs 1,396.41 crore.
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.
Indian auto market sees 2% rise in vehicle sales; SUVs continue to dominate
Last month, sales of cars, sedans, and utility vehicles in the local market increased by approximately 2%, reaching around 338,341 vehicles, compared to 332,468 units sold in April 2023. This marks the 16th consecutive month of best-ever monthly sales for automakers in the region. Despite a moderation in growth rate, the absolute volume remained robust. Maruti Suzuki, Hyundai, and Tata Motors reported marginal increases in sales, while SUV sales surged by about 15%, constituting 53.6% of total car sales.
Auto stocks, mirror of economic growth: The not so bullish analysts would be proven wrong ?
Analysts projects are not bullish, they hardly expect any gains, but the hard fact, sometimes staying glued to excel sheet and earning projections makes one cautious more than it is required. Even the recent price moves are indicating that the street is getting ready to re-rate part of the auto sector, or rather has already done it. Whether it be large OEM or auto ancillary companies. Should one be ready to ignore the pessimism of analysts and move to take exposure for both a tactical trade and long term investment ?
VECV forays into small commercial vehicle segment
VE Commercial Vehicles (VECV) has entered the small commercial vehicle (SCV) segment, unveiling its first product at the Bharat Mobility Global Expo 2024. Eicher Trucks and Buses, a division of VECV, introduced a range spanning 2T to 3.5T Gross Vehicle Weight.
Commercial vehicles set for heavy-duty FY24 sales, revenue expected to rise 30%
Sales of heavy duty trucks that can carry more freight has grown in healthy double digits - by 15% in the first seven months of the year, said Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM) and VE Commercial Vehicles (VECV) chief executive officer and managing director. VECV is a joint venture between the Volvo Group and Eicher Motors.
Commercial vehicle segment set for growth with expanding economy: VECV MD
The domestic commercial vehicle industry is expected to reach its peak sales volume of 2018-19 this fiscal and grow briskly over the next few years, coinciding with the overall economy's growth. Heavy-duty truck sales have grown by 15% in the first seven months (April-October). The economy is expected to cross the $5 trillion mark, and new age customers like e-commerce companies seek better turnaround time, leading to the replacement of old trucks with new ones.
Volvo Group bullish on India's growing commercial vehicle market
India is set to experience significant growth in the next decade and become a key player in manufacturing operations for the Volvo Group, according to Sofia Frandberg, Chairperson of VE Commercial Vehicles (VECV). Frandberg highlighted the company's strong growth in all segments, including buses, trucks, engines, and components. VECV, a joint venture between Eicher Motors and Volvo, has already become the sole global manufacturer of 5-litre and 8-litre diesel engines for Volvo.
Ashok Leyland looks to drive in models with alternate fuel options in next 3-5 years: Dheeraj Hinduja
In an interaction with PTI on the sidelines of an event to launch its latest range of electric light commercial vehicles range, Hinduja said that besides electric and CNG trims, the company is looking at all kinds of alternate fuels like hydrogen, ethanol etc to power its model range going ahead.
VECV total sales grow 29.4 pc to 6,476 units in August: Eicher Motors Ltd
Eicher Motors Ltd on Friday said its arm VE Commercial Vehicles Ltd posted a 29.4 per cent growth in total sales at 6,476 units in August 2023. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 5,907 units last month as compared to 4,530 units in August 2022.
VECV secures order to supply 550 intercity buses worth Rs 500 crore
The order of 550 buses is an indication of the company's robust expansion plans going forward to become a pan-India operator, Vijayanand Travels said in the statement. "Vijayanand Travels has placed the largest order in India for 550 intercity buses from Volvo and Eicher. The approximate worth of the order is Rs 500 crore, which includes 500 units of Eicher Intercity 13.5m AC and non-AC sleeper coaches and 50 Volvo 9600 luxury sleeper coaches," it said.
VE Commercial Vehicles posts 35.2% rise in sales at 11,906 units in March
The company, a joint venture of the Volvo Group and Eicher Motors, said Eicher branded trucks and recorded sales of 11,677 units last month, as compared to 8,581 units in March 2022, up 36.1 per cent, the company said in a statement.
Commercial vehicle sales may glide into pre-pandemic zone by FY23-end
Industry estimates around 1.02 million commercial vehicles will be sold in the local market by the close of the fiscal year, aided by robust recovery in demand for small commercial vehicles (less than 3.5 tonne) and light & medium duty (LMD) trucks that will breach previous peaks.
Auto Expo 2023: Commercial vehicle makers hedge fuel technology bets
Market leader Tata Motors showcased commercial vehicles with propulsion technologies including battery-electric, compressed natural gas (CNG), flex fuel, hydrogen fuel cell and hydrogen combustion engine. "For us it is not only about electric vehicles; it is about every new technology," Tata Motors chairman N Chandrasekaran said.
Volvo, Eicher showcase range of mobility solutions at Auto Expo 2023
VE Commercial Vehicles Limited (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited. In operation since August 2008, the company includes the complete range of Eicher branded trucks and buses, Volvo Buses India, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for Volvo Group, non-automotive engines, and Eicher component business.
VE Commercial Vehicles total sales rise 17.3 pc to 7,221 units in Dec
In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 6,671 units last month as compared to 5,192 units in December 2021, a growth of 28.5 per cent.
VE Commercial Vehicles Oct total sales up 4 pc at 6,038 units
October 2022 sales included 5,911 units of Eicher brand and 127 units of Volvo brand of commercial vehicles, VE Commercial Vehicles (VECV) said in a statement.
Tata Motors expects commercial vehicle industry to grow in double digits this fiscal
In the first quarter of 2022-23, domestic CV sales grew 112 per cent at 2,24,512 units as against 1,05,800 units in the year-ago period. In 2021-22 it grew by 26 per cent at 7,16,566 units as compared to 5,68,559 units in 2020-21, according to Society of Indian Automobile Manufacturers (SIAM),
Commercial vehicle sales to stay in fast lane
"GST (goods and services tax) collections touched an all-time high last month. Tax collections going up is a good sign," said Vinod Aggarwal, managing director at VE Commercial Vehicles (VECV). "Potential in the market continues to be very large (despite inflationary concerns)."
VE Commercial Vehicles sales climb 25.1% in March
Eicher branded trucks and buses recorded sales of 8,581 units last month as against 6,870 units in the year-ago period, a growth of 24.9 per cent, it added.
VECV sales up 7 pc in February
Total domestic sales of Eicher-branded commercial vehicles (CV) last month stood at 5,093 units, as against 4,825 units in the year-ago month, a growth of 5.6 per cent, it added.
VE Commercial Vehicles reports 25.8 pc jump in sales to 6,154 units in Dec
Eicher-branded trucks and buses recorded total sales of 6,002 units last month as compared with 4,687 units in December 2020, a growth of 28.1 per cent.
VE Commercial Vehicles sales rise 10 pc to 4,085 units in Nov
Eicher trucks and busses sales grew 3.1 per cent to 3,184 units last month against 3,088 units in November 2020. Exports of Eicher brand of commercial vehicles stood at 783 units, compared to 473 units in the year-ago month, a growth of 65.5 per cent, the company said.
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