Page 3 - Commercial Vehicles

Price cap, certificate crunch stall Centre's electric truck drive

The scheme mandates that a buyer scrap an old vehicle to get a certificate of deposit (CD), which must then be used to claim the incentive on a new electric truck of the same or lower weight

Nuvama sees mixed June auto sales; two-wheelers, tractors to outperform

Analysts cite rural demand and the ongoing marriage season as key drivers supporting two-wheeler and tractor volumes, while subdued consumer sentiment and conversion delays are likely to weigh on PV &

Tata Motors plans new Ace diesel variant without DEF, targets SCV recovery

Tata Motors plans to reintroduce its Ace diesel mini-truck without SCR tech to reduce total cost of ownership, while expanding rural presence with Intra range

Govt may raise motor third-party insurance premiums by up to 10% soon

The hike, likely to take effect by October 2025 or April 2026, aims to ease pressure on insurers facing rising claims, especially from commercial vehicles and pandemic-era payouts

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