Page 6 - Commercial Vehicle

Domestic commercial vehicle industry expects to grow by 7-10% in FY24: Icra

The domestic commercial vehicle industry volumes are expected to grow by 7-10 per cent in FY2024, supported by replacement demand, pick-up in mining, infrastructure construction activities and overall healthy fleet utilisation levels, rating firm Icra said on Thursday. This is despite the 5 per cent year-on-year and 41 per cent sequential contraction in volumes in April 2023, it noted. The growth in FY2024 would follow a year of healthy demand in FY2023, wherein the industry volumes expanded by more than 33 per cent, supported by a favourable base, as well as a healthy pick-up in macroeconomic activity, Icra said. The scrappage policy, which was announced in March 2021, has been implemented from April 1, 2023, and is likely to contribute to the growth of new commercial vehicle sales, it added. "The major impact of the scrappage policy is expected in the CV (Commercial Vehicle) segment, especially passenger carriers, as the usage of other vehicles such as two-wheelers, passenger ...

Commercial vehicles sales of Indian automakers slump by 50% MoM in April

India's wholesale commercial and passenger vehicle sales growth moderated in April, following a boost from the festive season

Eicher Motors' CV arm posts sales uptick of 18.9% to 6,567 units in April

Eicher Motors Ltd on Monday said its arm VE Commercial Vehicles Ltd posted an 18.9 per cent growth in total sales at 6,567 units in April 2023. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 5,525 units in April 2022, Eicher Motors said in a regulatory filing. April 2023 sales included 6,399 units of the Eicher brand and 168 units of the Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 6,142 units last month as compared to 4,766 units in April 2022, a growth of per cent. Exports of Eicher branded trucks and buses, however, declined 60.5 per cent at 257 units as compared to 650 units in December 2022, it added.

Tata Motors domestic sales fall 4% in April, passenger vehicle sales up 13%

The sales of commercial vehicles fell sharply by 27% to 22,492 units in April this year. It was 30,838 last year

Mahindra & Mahindra to increase LCV production capacity as demand rises

As per the SIAM data, M&M's domestic sales of LCVs in this segment reached 198,121 units in 2022-23, indicating that production capacity is almost fully utilized

Daimler India reports 'strong' growth in revenue, sales in CY 2022

Daimler India Commercial Vehicles (DICV) on Monday announced growth in its sales and revenue in 2022, selling over 29,000 units during the calendar year (CY). A company release said "despite supply chain headwinds and adverse cost environment, 2022 was one of the most successful business years." "The company reported a revenue growth of 37 per cent and a sales growth of 25 per cent in CY 2022 over CY 2021. 2022 was especially the best year of growth as DICV sold a total of 29,470 domestic and export units of trucks and buses in the calendar year," DICV, a wholly-owned subsidiary of Daimler Truck AG, Germany, said. In 2022, the vehicle-maker crossed the production milestone of two lakh vehicles, including for domestic and exports. "The company recorded its best ever annual vehicle exports with 11,000 units, best-ever annual part sales (over 245 million parts) and best-ever annual domestic vehicle sales in 2022," it added. Satyakam Arya, Managing Director and CEO of DICV, said 2022

Maruti launches upgraded Super Carry to boost presence in LCV segment

M&M, Tata Motors dominate LCV segment with about 80% market share between them

Tata Motors announces hikes in commercial vehicle prices by 5% from April 1

Tata Motors on Tuesday announced increasing the prices of commercial vehicles by up to 5 per cent from April 1. The price increase comes in the wake of the implementation of the more stringent BS-VI phase II emission norms from next month, it said. The price increase will be applicable across the entire range of commercial vehicles, with the exact amount varying according to the individual model and variant, the company said in a statement. "Tata Motors will be implementing a price increase of up to 5 per cent on its commercial vehicles, starting from April," the company said. Tata Motors said it is upgrading its entire vehicle portfolio to conform to the stricter emission norms, which are set to come into force from April 1.

Retail auto sales up 16% YoY in Feb but still lower than pre-Covid level

The change in onboard diagnostics and the wedding season were the key drivers of growth in the month

Commercial vehicle industry volumes to see 7-10% growth in FY24: Icra

The commercial vehicle industry volume is expected to grow in the range of 7-10 per cent in the next financial year, rating agency Icra said on Tuesday. The volume growth would be on account of government infrastructure spending, replacement demand, back-to-school and office scenarios and e-commerce expansion, it noted. The growth will, however, moderate from 24-26 per cent in the current financial year, it added. Icra noted that the growth trends were visible in third quarter of the current fiscal, with wholesale dispatches reporting a growth of 16 per cent on a year-on-year basis, supported by replacement demand, improvement in the macroeconomic environment, and healthy traction in the underlying industries such as steel, cement, mining, automobiles, and e-commerce. Freight rates continued to hold up, which, coupled with healthy freight availability, is supporting fleet operator viability, it noted. The growth trends continued to be broad-based across all the three sub-segments

Tata Motors reducing discounts on trucks to improve margins: Report

Tata Motors sells over 50 per cent of all the medium and heavy trucks in the country yet its margins have remained thin

Brakes India to clock 15-20% growth in revenue this FY, says MD Sriram Viji

According to a report by Crisil recently, Brakes India derives 23 per cent of its total revenue from exports in the brakes and foundry divisions

At 3.8 million units, PV sales rev up to highest ever in 2022: Siam

Data showed that passenger vehicle sales grew by 23 per cent in 2022 compared to the previous year to touch 3.79 million units

Hydrogen as a fuel is for commercial vehicles, says Shailesh Chandra

"Our focus is on bringing all kinds of body styles and products at different accessibility points from the lowest possible to the highly aspirational"

Ashok Leyland showcases six commercial vehicles at the Auto Expo 2023

Auto Expo 2023: The vehicles showcased were 'green' powered by electric options and hydrogen

After two good months, retail auto sales decline 5% in December: FADA

The two-wheeler segment registered a de-growth of 11 per cent YoY in December 2022. All the other categories were in the green

CV growth prospects, regulatory tailwinds to drive gains for ZF India

Higher exports and improving margins on the back of softening input costs are other positives

Prospects remain healthy for NBFCs, bank credit shows a strong trend

Topline growth should outweigh any pressure on margins

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

Tata Motors Ltd said it would increase prices of its commercial vehicles by up to 2% from January to partly offset a steep rise in input costs

Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY

The company has also achieved a market share of 32 per cent in Q2FY23