Page 6 - Commercial Vehicles

Auto Expo 2023: Ashok Leyland to expand scope of its connected network

Through the telematics-driven connected network, the company helps vehicles on the ground in predicting problems along with quick support in case of breakdowns to AI-based customer solutions

Tata Motors promises commercial vehicle range for city transportation needs

Tata Motors will commercially introduce Ace EV in 10 cities, starting with Delhi, Pune and Mumbai, followed by Bengaluru, Hyderabad and Chennai

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

Sundaram Finance looks to grow AUM beyond Rs 50,000 crore in 3 years

The Chennai-based non-banking finance company is looking to scale up SME lending share to 8-10 per cent share from present two per cent over the medium term

Cummins Inc, Tata Motors team up to develop hydrogen-powered engines

India will be one of the first markets to receive Cummins' hydrogen engines, the company said

Overall commercial-vehicle volume to touch 1 mn units by FY24: Fitch

Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 the level of the last cyclical peak recorded in FY19, it said. According to Fitch, domestic CV sales volume are expected to grow in the mid-to high-teens over the next few years. Factors like rapid recovery in India's economic activity after the pandemic shock and the government's planned increase in infrastructure spending will help sustain an ...

Indian commercial vehicle sector to log volume growth: Fitch Ratings

The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report

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

OEMs to drive 16-18% rise in auto-parts MSME revenues: CRISIL SME Tracker

MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.

Results preview: Strong operational show to drive Q2 for auto firms

Easing chip supply, demand for premium models and price hikes at play

Auto sales up 57% during Navratri as all categories put up strong show

Overall sales were also 27% higher than Navratri 2020 and 16% above the pre-pandemic season in 2019; trend seen continuing till Diwali

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

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

Commercial EV maker Euler Motors raises $60 mn in funding round led by GIC

Company will use the money to strengthen manufacturing, supply chain and hire talent

Vehicle sales up 8% in Aug, two-wheelers cause for concern: FADA

Tractor sales decline 32% despite good monsoons; three-wheelers do modestly compared to 2019

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

Murugappa enters EV mkt with TI Clean Mobility's Montra e-three-wheeler

Launch is part of the group's strategy to focus aggressively on EVs, with e-3W under the brand Montra Electric, electric tractors under Cellestial Egat, electric HCVs under Rhino 5536 brand

CV industry to perform well this year, says Tata Motors' Girish Wagh

Tata Motors on Monday said it is expecting the Commercial vehicles industry to perform well this fiscal after two years of downturn, with an upturn in demand across all segments. Moreover, consumption is also witnessing continuous growth leading to good demand conditions, Tata Motors executive director, Girish Wagh said at the launch of a range of trucks here. Along with the launch of the country's first CNG-powered Medium and Heavy Commercial Vehicle (M&HCV) range of trucks, the company also rolled out a new series of advanced intermediate and light commercial vehicle (I&LCV) tippers and trucks. Besides, it also introduced Advanced Driver Assistance System (ADAS) and new features in its range of Prima, Signa and Ultra trucks. After two years of downturn in the commercial vehicle industry, the previous fiscal logged 22 per cent volume growth over FY21, said Wagh. "The CV industry seems to be on an upside now. Various indicators such as fleet utilisation or freight rates or ...

Ashok Leyland total vehicle sales jumps 51% to 14,121 units in Aug

Commercial vehicle maker Ashok Leyland's total vehicle sales, including exports, grew 51 per cent on an annual basis to 14,121 units in August, the company said on Thursday. The Hinduja Group flagship had sold a total of 9,360 vehicles in August 2021. The total medium and heavy Commercial Vehicle (M&HCV) sales were up 81 per cent year-on-year and touched 8,379 units from 4,632 units sold in August 2021, with truck volumes growing 70 per cent at 7,325 units, as against 4,297 units a year ago. The light commercial vehicle (LCV) sales volumes stood at 5,742 units during August, growing 21 per cent over 4,728 vehicles in the same month last year, it added. The domestic vehicle sales increased 58 per cent to 13,301 units in the month under review, from 8,400 units in the year-ago period, the company said.

Commercial vehicle volumes to stay resilient as recovery takes hold in FY23

Margin pressures may continue on competitive pressures, input cost inflation