Page 2 - Commercial Vehicles

India's CV industry quietly begins shift to hydrogen-powered vehicles

Ashok Leyland, Tata Motors and Daimler lead India's shift to hydrogen-powered commercial vehicles as pilot trials expand under the National Green Hydrogen Mission

Maruti Suzuki ties up with Equitas Small Finance Bank for car financing

Leading car maker Maruti Suzuki India Ltd has partnered with private sector Equitas Small Finance Bank to offer vehicle financing options to its customers, a company official said on Friday. A memorandum of understanding between the two entities was signed with an aim to provide retail financing options for new cars, used cars and commercial vehicles. "The collaboration is set to enhance the accessibility and affordability of Maruti Suzuki vehicles for a broader range of customers," a company statement here said. The Chennai-headquartered Equitas Small Finance Bank would leverage the growing customer base of the bank to benefit diverse Maruti Suzuki customer profiles and offer them a range of comprehensive financing solutions. Maruti Suzuki India Ltd Senior Executive Officer Partho Banerjee exchanged documents with Equitas Small Finance Bank's retail assets head Jagadesh J in the presence of representatives of both organisations. "Our collaboration will enable us to reach an even

TaMo eyes 40% CV, 16% PV market share; EV biz hits Ebitda breakeven

Tata Motors targets 40% share in CVs and 16% in PVs by FY27, plans major EV investments and demerger of vehicle businesses by end-2025

Vedanta exploring using biodiesel in CV fleet in Odisha's Jharsuguda plant

On the World Environment Day, Indian mining and metals firm Vedanta Ltd said on Thursday that it is exploring using biodiesel in the commercial vehicle fleet at its Jharsuguda township in Odisha. The company, Vedanta Aluminium, said in a statement that it has pledged to decarbonize 100 per cent of its light motor vehicle fleet by 2030. Towards this effort, the company is exploring the use of biodiesel in its commercial vehicle fleet after conducting successful pilot runs to evaluate its feasibility. Further, it has begun using biomass briquettes made from agricultural residue for co-firing applications at its Lanjigarh alumina refinery in Odisha and BALCO smelter in Chhattisgarh. At Lanjigarh refinery unit in Odisha's Kalahandi district, 20 tonnes of biomass are co-fired daily, cutting down over 10,000 tonnes of CO2 equivalent emissions annually, it said. Similarly, the company has introduced a 10-ton electric forklift at its aluminium plant in Jharsuguda and now operates a large

We are well positioned as long as Indian market grows: Dheeraj Hinduja

Dheeraj Hinduja talks about its export ambitions, electric vehicle (EV) business, and geo-political scenario

Tata Motors demerger to give shareholders long-term returns: Chandrasekaran

Tata Motors chairman N Chandrasekaran has said that the demerger will enhance agility, boost EV focus, and integrate AI to deliver long-term value

Tata Motors shares hit speed bump, down 3% post muted Q4; what analysts say

Tata Motors' consolidated net profit tanked 51.2 per cent year-on-year (Y-o-Y) to ₹8,556 crore in the March quarter of financial year 2025 (Q4FY25), from ₹17,528 crore in Q4FY24.

Auto retail sales see 3% rise in April; Fada keeps outlook positive for May

Automobile retail sales rose 3 per cent in April led by strong rural demand and festive tailwinds, though commercial vehicle sales continued to show weakness

PM E-DRIVE scheme: TaMo, Maruti, two others seek to make e-ambulances

While Force Motors and Tata Motors have committed in writing, MSIL and EKA - a startup that produces electric buses and small electric commercial vehicles

Uno Minda, Motherson Sumi, M&M: Top bets by Nuvama ahead of March'25 sales

According to analysts at Nuvama, the tractor industry volumes are expected to grow in double digits, with an approximately 16 per cent Y-o-Y increase in the domestic market

Poonawalla Fincorp launches CV secured loans biz for tier-2,3 markets

Poonawalla Fincorp Ltd, the NBFC arm of the Cyrus Poonawalla Group, on Monday announced the expansion of its product portfolio with the launch of secured loans business for commercial vehicles (CVs), covering both new and old vehicle purchases. With a strong focus on Tier 2 and Tier 3 markets, the company said it plans to initially enter 68 locations across 12 states in the first phase. It aims to expand further to 400 locations across 20 states through a hub-and-spoke model in the next phase. The tailored financing solution for small, light, and heavy commercial vehicle operators, which aims to bolster the logistics and supply chain sectors, will help the segment players enhance their transportation capabilities, Poonawalla Fincorp Ltd (PFL) said. Besides, the customers will also benefit from flexible, structured payment and repayment options, the company said, adding that as part of this launch, it has also introduced a technology solution aligned with its risk-first ...

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 ...

Ashok Leyland's Q3 margin surprises Street; analyst mixed on future growth

Ashok Leyland's Ebitda margin expanded 80 basis points (bps) to 12.8 per cent in Q3FY25, up from 12 per cent in Q3FY24, surpassing Street estimates

VECV opens new manufacturing unit in Bhopal, begins Eicher Pro X deliveries

Vehicles rolling off the all-women final assembly line at this brand-new facility were delivered to leading players in the rapidly transforming Indian logistics industry

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

Tata Motors to continue spending Rs 2,000 cr per yr on new CVs, equipments

Tata Motors will continue to invest around Rs 2,000 crore annually on the development of new commercial vehicles and capital equipment as the company works on a gamut of technologies to drive towards sustainable mobility, according to its Executive Director Girish Wagh. The company's commercial vehicle (CV) division is working on a variety of technologies ranging from alternate fuel to zero emission battery electric, fuel cell electric and hydrogen ICE. "We are working on all the technologies, whether it is alternate fuel and even in zero emission, we are working on battery electric. We are working on fuel cell electric. We are also working on H2 ICE (hydrogen internal combustion engine)," Wagh told PTI on the sidelines of the Auto Expo, held as part of the Bharat Mobility Global Expo 2025 here. At the expo, the company displayed a range of CVs based on various fuel technologies -- from diesel, biodiesel, CNG, LNG, ethanol, flex fuel, battery electric to H2 ICE. Asked how much ...

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 ...

Continental Tires launch ContiSeal tyres with anti-puncture technology

The tyre has self-sealing technology that automatically seals 85 per cent of tread punctures caused by objects up to 5 mm in diameter, such as nails or screws

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