Roudra Bhattacharya The Financial Express New Delhi: In what could spell fresh trouble for the commercial vehicle industry caught in a slump, Tata Motors and Ashok Leyland could lose orders for about 600 low-floor buses to be purchased by the Delhi Transport Corporation (DTC) to Chinese, Polish and Swedish manufacturers. Ramakant Goswami, transport minister for Delhi, told FE: “The price and maintenance costs quoted by Tata were unrealistic; so, we have asked a few foreign companies to run buses, on a trial basis, on Delhi roads.” Goswami said foreign manufacturers were willing to sell the buses cheaper, though he did … Continue reading DTC’s foreign bus plan could hit Tata, Leyland
Ishita Ayan Dutt Business StandardKolkata: Singur has always been kind to Mamata Banerjee. First, it resurrected her political career. Then, just days before the panchayat elections this month, as angst over an unending wait for the return of land acquired for Tata Motors’ small car project from farmers who did not wish to sell was growing, the Supreme Court suggested that the company return the land. Banerjee and Singur share a history that dates back to 2006. On May 18, that year, a beaming Buddhadeb Bhattacharjee, who had just been sworn in for a second term as chief minister, announced … Continue reading Singur’s farmers discover the lie of the land
Sanjay VijayakumarThe Economic Times Captive financing arms of auto companies have a stricter tier-I capital ratio requirement than non-captives. That should change, says Sidhartha Nair, Managing Director of Daimler Financial Services India, a Daimler arm, begs to differ. In an interview with ET, he says captives have a big role to play in markets such as India. Edited excerpts: With India having a well-spread-out network of banks and non-banking financial companies, is there a need for captives?In India, 70% of the cars and 95% of the trucks are financed. So we have a big role to play. In established markets, … Continue reading In the last 40 years, we never shut operations in any market: Daimler Financial Services India Chief
Volvo to come out with new diesel engines and transmission Volvo is all set to ditch its Ford-sourced engines with the introduction of the new Volvo Engine Architecture (VEA). This new family of engines focuses on high diesel fuel efficiency figures. The i-ART technology uses pressure feedback from individual injectors instead of single pressure sensor in a common rail engine. i-ART automatically monitors the fuel pressure and conditions to maximise fuel economy. Along with this engine, Volvo will also debut its first 8-speed automatic gearbox which is said to have seamless shifts. Volvo further elaborates that its 4-cylinder engines will … Continue reading Volvo to come out with new diesel engines and transmission
Banks and other lenders are sitting on a huge inventory of over 35,000 repossessed (loan defaulting) trucks/trailers, even as medium and heavy truck sales crashed 25.6% in 2012-13, according to a report by independent agency Indian Foundation of Transport Research and Training (IFTRT). Multi-axle trucks and tractor trailers led the sales crash with a 32.5% drop reflecting the poor cargo offerings from manufacturing sector, infrastructure sector and import-export trade. Quarter on Quarter drop is tabulated below:- MHCV Sales 2011-12 2012-13 %Change Q1 75,054 66,048 -12 Q2 85,726 74,645 -12.9 Q3 84,141 57,832 -31.8 Q4 104,295 70,184 -32.7 “The economic scenario across … Continue reading IFTRT Report: 35,000 repossessed Trucks, Trailers pile up with lenders
‘Most Affordable’ 2Wheeler ever from Honda in India At 74 kmpl, Dream Neo gives ‘Highest Fuel Efficiency’ too! With Dream series, HMSI aims over 150% growth in 100-110cc mass segment HMSI confident of achieving 43% growth in FY14 to 39.3 lac unit sales New Delhi, April 17, 2013: Eyeing exponential growth of its business in India, Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) today unveiled the much awaited second ‘Dream Series mass motorcycle’– the 110cc DREAM NEO. Honda Dream Neo … Continue reading Honda unveils new 110cc DREAM NEO under ‘Dream’ series for INR43,150 (Ex-showroom Delhi) [Company Press Release]
Volvo AB, set to surpass Daimler to become the world’s largest maker of heavy trucks after acquiring stake in Dongfeng Commercial Vehicles, is looking to induct Eicher as the fifth brand in its global portfolio. The move could be aimed at increasing penetration in emerging markets.As part of Volvo’s global portfolio, Eicher products would be retailed at Volvo dealerships in specified markets. In the first phase, VE Commercial Vehicles (VECV), the 50:50 Indian joint venture of the Volvo Group and Eicher Motors Limited (EML), would leverage Volvo’s distribution network to sell Eicher-branded vehicles in markets across South Africa, West Asia … Continue reading Eicher might become part of Volvo AB’s global portfolio – A move aimed at increasing penetration in emerging markets.
Bajaj Auto , India’s second largest two-wheeler maker reported a 10 % year-on-year decline in sales in March at 3.01 lakh units amid continued sluggish demand for motorcycles. Rajiv Bajaj, MD of the company feels the market for auto sector remains quite challenging and expects growth in April-June to be between 0- and -5 %. Talking about the targets for the next fiscal, Bajaj says the company would try to strike double digit growth and get closer to 5 million (50 lakh) vehicle sales. However, it is going to be a bumpy road, given the sluggish growth in the two-wheeler … Continue reading Media Interview: Mr Rajiv Bajaj, MD – Bajaj Auto: Slow growth in 2W industry to continue in April-June.
Press Release Tata Safari Storme, the Real SUV, hits the road 140 PS power for easy driveability and swifter response Opulent looks with ample space Fuel efficiency of 14 kmpl Starting price of Rs 9.95 lakhs (ex-showroom, New Delhi) Tata Motors today launched the new Tata Safari Storme, combining luxury and comfort with raw power and supreme off-roading performance, which this ‘Real SUV’ has been known for. Commenting on the launch of the New Safari Storme, Mr. Karl Slym, Managing Director of Tata Motors, said, “In the Tata Safari Storme, we once again demonstrate Tata Motors’ commitment to customer centricity. We … Continue reading Tata Safari Storme, the Real SUV, hits the road