Page 2 - Commercial Vehicle

Auto sector seeks full CAFE exemption for N1 light commercial vehicles

SIAM cites affordability, weak sales, minimal emissions and regulatory overload as reasons to exempt N1 segment from stricter fuel efficiency rules from April 2027

Indian commercial vehicle industry to see 3-5% growth in FY26: Icra

ICRA projects modest 3-5 per cent growth for CV sector in FY26 on infrastructure revival, with buses outpacing other segments at 8-10 per cent growth

Ganesh Mani to take charge as Switch India CEO, effective September 1

The company said that its current CEO, S Mahesh Babu, has decided to step down from his position to pursue opportunities outside the group, effective August 31, 2025

Commercial vehicle sales may grow 3-5% in wholesale volumes in FY26 : Icra

Domestic commercial vehicle (CV) industry is likely to see a 3-5 per cent year-on-year growth in wholesale volumes this fiscal, after logging a slight dip of 1.2 per cent in FY25, Icra said in a report on Monday. This growth is expected to be driven by resumption of construction and infrastructure activities and a steady economic environment, the ratings agency said in its latest report. Domestic CV wholesale volumes saw a miniscule 0.1 per cent increase in the previous month on a year-on-year basis, while sequentially it grew by around 1.6 per cent. However, in the first two months (April-May) of the current financial year, the CV wholesale volumes declined by 0.7 per cent year-on-year, it said. CV retail volumes, according to Icra, declined by 3.7 per cent year-on-year in May 2025, while sequential decline was at 11.3 per cent, it said, adding such trends reflect elevated inventory at dealerships' end. In the medium and heavy commercial vehicle (M&HCV) segment, retail sales ...

RBL Bank eyes wider margin from retail, CV finance rollout in 3 months

RBL Bank is aiming to widen its net interest margins (NIM) from retail assets by shifting the portfolio mix towards higher-yielding assets, a senior official has said. As part of the same strategy, the private sector lender will launch a commercial vehicle (CV) financing and used 4-wheeler finance in the next three months. The increase in NIMs, which is being targeted at a time when the entire industry is facing challenges on this front, will be achieved while maintaining the retail share in the overall loan mix at around 31 per cent level, Kumar Ashish, its head of retail assets and collections, told PTI. Ashish, however, did not share the current NIMs of the retail business nor did he share an aspirational number. It had reported a sharp decline in the overall NIMs to 4.89 per cent as against 5.45 per cent, and the narrowing was one of the reasons along with setbacks in the MFI business for the 76 per cent drop in the Q4 net profit at Rs 86 crore. He said at the bank level, it is

Auto parts sector to grow 7-9% in FY26, driven by 2W, PV demand: Crisil

A moderate recovery in commercial vehicles and tractor sales, which contribute around 17 per cent to overall revenue, is also expected to support growth

Belrise eyes four-wheeler, CV push ahead of ₹2,150-cr IPO on May 21

Belrise Industries, dominant in two-wheeler components, plans to expand into CVs and four-wheelers as it raises ₹2,150 crore through an IPO opening on May 21

Mahindra to acquire controlling stake in SML Isuzu for ₹555 crore

M&M has a 52 per cent share in the sub-3.5T light commercial vehicle (LCV) market. With this transaction, M&M expects to double its market share in the >3.5T segment to 6 per cent initially

Commercial vehicle sales may touch 1 mn mark in FY26 after 7 yrs: Crisil

LCVs to account for 62% of volumes

Tata Motors, Maruti to hike prices from April amid rising input costs

Tata Motors announced a price increase of up to 2 per cent across its CV range, effective April 1

India's CV industry wholesale volumes to grow at 3-5% in FY26: Icra

Capital expenditure in the CV industry is also expected to rise significantly to Rs 58-60 billion in FY25 and FY26, up from Rs 34 billion in FY24

Domestic commercial vehicle wholesale volumes to grow 3-5% in FY26: ICRA

Domestic commercial vehicle industry's wholesale volumes are expected to grow 3-5 per cent year-on-year in FY26, rating firm Icra said on Monday. This follows a flat volume movement estimated in FY25, marred by the demand slowdown in the first half of the fiscal due to the general elections, it said in a statement. "Resumption of construction and infrastructure activities, steady rural demand along with higher replacement sales stemming out of ageing fleets and government mandates are the likely driving factors to propel the said volume expansion towards the end of FY2025 and through FY2026," Icra Senior Vice President & Co-Group Head Kinjal Shah said. The sustained push in infrastructure development, a steady increase in mining activities and the improvement in roads/highway connectivity are expected to support volumes going forward, she added. The replacement demand would also remain healthy, primarily due to the ageing fleet, estimated at 10 years for the medium and heavy ...

Jupiter Electric aims ₹100 cr revenue from electric light CV biz in 1st yr

Jupiter Electric Mobility (JEM), the electric vehicle arm of the Jupiter Group, on Monday said it is aiming to achieve Rs 100 crore topline in the first year of operations of its electric light commercial vehicle business as it rolled out its flagship 1.05 ton e-commercial vehicle Tez. The company, which also announced the launch of its manufacturing facility at Pithampur (Indore) designed to produce 8,000-10,000 vehicles annually, also said it expects to sell 400 such eLCVs in the first year of the launch. The vehicle is priced at Rs 10.35-lakh (ex-showroom). "We had the necessary infrastructure in place. So the idea was that we wanted to build a vehicle which would contemplate our existing infrastructure and bring synergies to the business. The idea was always to launch an electric vehicle because the motto of our group is sustainability and all our products are also focussed around sustainability," said Vivek Lohia, Managing Director, Jupiter Group. Lohia said that the company h

Nomura picks top auto stocks as Maruti, M&M expect 1% YoY PV growth in FY26

Auto Stocks Today: The FY26 outlook for passenger vehicles is "extremely cautious" as affordability remains difficult. Besides, weak rupee has increased input costs

Domestic demand to improve in CV wheel segment in Q4: Wheels India

Steel wheels manufacturer Wheels India expects the domestic demand to improve in the commercial vehicle wheel segment during the current January-March 2025 quarter, a top official said. The city-headquartered company also hopes to grow its exports in the coming year through new product programmes, Managing Director Srivats Ram said on Tuesday. Wheels India declared its financial results for the October-December 2024 quarter with net profits of Rs 22.57 crore, as compared to Rs 12.58 crore in the corresponding quarter of the last financial year. The net profits for the nine months ending December 31, 2024, surged to Rs 69.86 crore, from Rs 31.04 crore registered a year ago. "In terms of strong growth in Q3, we continued to benefit from lower raw material prices, favourable product mix and productivity and cost improvements," Ram said regarding financial performance. Revenues during the quarter under review stood at Rs 1,058 crore, as against Rs 1,131 crore registered in the same per

Euler Motors secures $20 mn in debt funding from responsAbility Investments

Commercial electric vehicle maker Euler Motors on Wednesday said it has secured up to USD 20 million in debt from responsAbility Investments AG to ramp up production and distribution networks as well enhance research and development capabilities. The fresh capital infusion comes close on the heels of the company closing its Series C funding round, raising an additional Rs 200 crore from investors including British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund, Euler Motors said in a statement. The USD 20 million in debt funding from responsAbility Investments will help accelerate Euler Motors' mission to electrify India's commercial vehicle segment, supporting the growth of the recently-launched four-wheeler Storm EV for logistics and e-commerce clients, it said. "This new funding will boost us to scale further, expand our reach, and continue delivering sustainable, high-performance solutions that meet India's unique logistics needs," said ...

Tata Motors to hike commercial vehicle prices by up to 2% from January 2025

The company aims to offset these increased costs through the price adjustment. While the exact price increase will vary based on the specific model and variant

Ashok Leyland targets Ebitda break-even for Switch Mobility in FY25

Switch Mobility has order book of over 2,000 vehicles, including an order for 500 electric buses from MTC Chennai

Auto retail sales up 32% in Oct as 2W, PVs shine in festival season

Inventory levels improve from record high in Sept; dealers expect business improvement to continue

Q2 result preview: 2Ws and 3Ws likely drivers of auto sector growth

Muted PV, CV sales volume in Q2 may reflect in performance of segment leaders