Page 2 - Commercial Vehicle Sales

Eicher enters small commercial vehicles segment, unveils 'EV-first' truck

The vehicle is scheduled for customer trials in April 2024, with a commercial rollout expected in the first quarter of 2025

India's PV sales to slow down in FY25, EV market to be steady: ICRA to Siam

Commercial vehicle market expected to retreat in election year

Mahindra expects to sustain growth momentum in SCV segment in FY25

Mahindra & Mahindra expects to sustain growth momentum in the small commercial vehicles segment in the next fiscal, as it looks to keep refreshing the range as per customer needs, a senior company official said on Thursday. The company on Thursday introduced the new Supro Profit Truck Excel series, available in both diesel and CNG Duo variants, priced between Rs 6.61 and Rs 6.93 lakh, respectively. The Small Commercial Vehicles (SCVs) are designed to cater to the needs of last-mile connectivity. "We are expecting the industry to grow 5-10 per cent next fiscal and we would like to do better than that," Mahindra Auto Vice President and Head of Sales Baneshwar Banerjee told PTI. He said the company keeps working towards continuous interventions in its product range as per customers' requirements. As part of that, the company plans to introduce air conditioning in its pick-up range in the coming months, Banerjee said. He noted that while the industry has witnessed a 22 per cent dip

Commercial vehicle segment set for growth with expanding economy: VECV MD

Domestic commercial vehicle industry is expected to touch the peak sales volume of 2018-19 this fiscal and grow briskly over the next few years coinciding with the growth of the overall economy, VE Commerical Vehicles MD and CEO Vinod Aggarwal said on Monday. He noted in the first seven months (April-October), the heavy duty truck segment has grown by 15 per cent. "We are expecting that this year the industry should either be very near to the peak or it may even cross earlier peak of 2018-19," Aggarwal told PTI here in an interaction. The industry is expected to grow over the next few years with the economy slated to cross the USD 5 trillion mark, he noted. "There are fundamental reasons for this growth in the next few years. If we look at the economy, we are now at around USD 4 trillion mark and this economy is going to reach the USD 5-7 trillion mark the way it is growing," Aggarwal said. And if the economy grows, the commercial vehicle industry also grows because when more good

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Ashok Leyland September sales: Total sales up 9% YoY to 19,202 units

Bus sales for the company more than doubled in domestic sales as Ashok Leyland dispatched 1,851 units in September, which is 119% more than the 847 units sold during the same period a year ago

10-12% price hike in commercial vehicles likely: Credit rating agency Icra

There are a number of proposed regulatory changes that could further increase the cost of CVs

New regulation can raise commercial vehicle prices by 10-12%: ICRA

Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12 per cent, ratings agency ICRA said on Monday. In its report on the Indian commercial vehicle industry, ICRA said the domestic automotive industry is undergoing rapid transformations, with increased focus by the government on implementing emission norms, safety systems and other standards that will bring the country at par with other major automotive markets. "Within the Indian automotive industry, the commercial vehicle (CV) sector has been the focus, given that CVs account for the major part of vehicular emissions in the country," it said, adding mandatory standards towards driver comfort and safety can help improve the driving conditions and road safety to a large extent. Accordingly, ICRA said there have been multiple regulatory interventions in the recent past, with the industry adopting stringent emission standards in a relatively short span of time, as well as driver ..

Connected vehicles market grew 60% in quarter ended March: CMR

The market for EVs in India grew 48% during the period

Rising gas prices constrain CNG penetration in commercial vehicles: Icra

Rising gas prices have constrained CNG penetration in commercial vehicles to 9-10 per cent in the current fiscal from peaks of 16 per cent, Icra Ratings said on Friday. A spurt in global energy prices has led to a 70 per cent jump in the price of CNG in the last one year. This has narrowed the gap between the fuel and diesel, blurring the incentive to shift to the cleaner fuel. In a statement, the rating agency said CNG penetration in the domestic commercial vehicle (CV) sector has witnessed a decline in the current fiscal, especially in the MCV truck segment. "Rising CNG prices have narrowed the gap with diesel and in turn, diminished the running cost savings from CNG vehicles, which has been the key deterrent," it said. Notwithstanding the recent decline witnessed in CNG penetration, medium-term prospects remain favourable given the improving CNG fuelling infrastructure and push for cleaner vehicles, it added. Icra said CV industry has witnessed a contraction in the penetration

Ashok Leyland appoints Shenu Agarwal as new managing director, CEO

Shenu joins Ashok Leyland from Escorts Kubota Ltd, where he was president

Domestic passenger vehicle sales likely to rise over 30% in Nov: Report

Domestic passenger vehicle sales are expected to rise over 30-per cent year-on-year in November, driven by large order book and higher vehicle production while the commercial vehicle segment sales volume could grow in double digits during the month, a report said on Friday. Tractors volumes, however, are likely to remain muted on inventory destocking with dealers, brokerage firm Emkay Global Financial Services said in a report. It also said that vehicle discounts have reduced on a sequential basis and remain significantly lower than the elevated levels seen in the past. Automobile makers in the country are set to publish vehicle sales data for November on December 1. The PV segment is likely to record higher volumes on account of the large order book while the CV and two-wheelers are likely to maintain their positive growth momentum in November, Emkay Global said. Projecting over 30 per cent growth for the passenger vehicle segment in the current month over the same month last ye

Auto sales up 48% in Oct; all vehicle segments gain in festive season: FADA

Two-wheeler segment up 51%; high demand continues for SUVs and premium cars

Commercial vehicles on recovery track, to touch FY19 peak next fiscal: VECV

Commercial vehicles (having more than 3.5 tonnes capacity) had dropped from the 2018-19 peak to 2,34,299 vehicles in 2020-21 and had increased to 3,43,199 units in 2021-22

Automobile sales revved up 11% in Sept amid festival fervour: FADA

October likely to be good, too, amid the festival season

Expect CV industry to grow in double digits this fiscal: Tata Motors ED

Tata Motors expects the commercial vehicle industry sales growth to be in double digits this year despite hike in interest rates on auto loans, according to a senior company official. Favourable factors such as government's investment in infrastructure, gradually increasing consumption in the country and robust growth in end-use sectors like e-commerce outweigh headwinds such as high inflation and increased interest rates, Tata Motors Executive Director Girish Wagh told PTI. "The actual demand is going to be a net factor of the headwinds and tailwinds, within which the inflation, interest rates remain kind of headwinds," he said. On the tailwind side, Wagh said the government's investment in infrastructure and number of projects, the gradually increasing consumption in the country as also the end-use sectors such as e-commerce are showing robust growth. Also, he said the rising freight rates and fleet utilisation are continuously increasing the transporter confidence index. "It do

Top headlines: Vehicle sales up 8% in Aug; Fitch affirms rating for 4 NBFCs

Two-wheeler sales were up 8.5 per cent and three-wheeler by 8.3 per cent in August. Passenger and commercial vehicle sales increased 6.5 per cent and 24 per cent

VECV reports bus sales rising, sees chip crisis easing in 3 months

Company betting on alternate fuels for growth in commercial vehicles sales, says senior executive

Wheels India reports 6% rise in Q1 net profit as CV demand rises

Senior executive says 'early signs of slowdown in global economy'

PV sales expected to be strong in July as production rises: Report

Passenger vehicle sales are expected to be robust in July, driven by a large order book and production ramp-up, while commercial vehicle volumes may remain in an uptrend, a report said on Thursday. However, tractor volumes are likely to decline due to a high base and uneven spread of the monsoon, according to brokerage firm Emkay Global Financial Services, which has retained a positive view on the auto sector. Emkay Global also expects an improvement in two-wheeler sales on the back of higher production and inventory build-up with dealers. Passenger vehicle segment should witness a robust growth on a large order book and production ramp-up, with automakers such as Tata Motors, M&M and Maruti Suzuki expected to log 49 per cent, 28 per cent and 8 per cent volume growth, respectively, in July, the brokerage firm said. For the two-wheeler segment, the brokerage estimates a 35 per cent improvement in domestic sales for Eicher Motor-Royal Enfield, 6 per cent each for TVS Motor and Hero .