The new sales initiative, which the company claims is first-of-its-kind in the CV sales space, comes nearly a month after Piaggio Vehicles Private Limited (PVPL) rolled out a digital platform for its Vespa and Aprilia brands of scooters.
The worst is not yet over for heavy commercial vehicles
Moneycontrol’s Sakshi Batra, does 3-Point Analysis to understand the key earnings fineprint and the outlook on the company.
Sakshi Batra does a 3 point analysis on what do the sales numbers tell us as well as what are the big challenges various segments of the auto industry face right now.
Sources said that the government is wary of taking any decision that is “hard on the industry”
The country's auto asset- backed securities (ABS) backed by commercial vehicle loans issued in 2018 will have positive credit characteristics that, along with healthy economic growth, will support the performance of these deals," Moody's said in a report today.
The sales rose to 59,378 units in the two month period of 2017-18, from 47,750 units in the year-ago period.
The company's opines that the LCV business is more stable than the heavy commercial vehicles (HCV) segment and will shield the company from cyclical downturns. The company plans to double the share of LCV in the total commercial vehicle business to around 50 percent in the next 3-4 years.
The voluntary vehicle modernisation programme (V-VMP) or the scrappage programme announced by the transport ministry can boost commercial vehicle (CV) sales by a cumulative 65 percent between fiscals 2018 and 2020, over (over sales in fiscal 2016, says report.
With a slowdown in commercial vehicles sales in the second half of 2016, CNBC-TV18 finds out how Daimler India will go about hitting that target.
The purchase of PKC Group for USD 609 million will be debt free and 380 million euros from QIP will be used for the acquisition. Also, no debt will be raised, said Motherson Chairman Vivek Chaand Sehgal.
Tata Motors and Ashok Leyland, the two major players that control three-fifths of the domestic commercial vehicle market, will announce a hike of up to 10 percent across their range from April 1, 2017. The actual hike could be in the range of Rs 50,000-350,000 based on the price of the vehicle.
Speaking on the association, Akshay Kumar said, "The Tata brand is one that most of us have grown up with and now to be associated with them is indeed an honour. No one understands Indian trucking better than the Tatas and there couldn't have been a better and more apt brand to promote.
Maintaining the positive stance, TT Srinivasaraghavan, MD of Sundaram Finance, said the disbursements are not dramatically lower than what it was at the same point last month.
Delinquencies from the commercial vehicle (CV) space have fallen even as stress in the construction equipment industry and tractor loans remained elevated, India Ratings has said.
ZF Steering Gear reported a weak set of numbers. Speaking to CNBC-TV18, Jinendra Munot, Joint MD of ZF Steering Gear said that the revenues are down due to weakness in commercial vehicle market where the company has dominance.
The net profit of the company stood at Rs 9.27 crore during the corresponding quarter of the previous year, according to Wheels India Managing Director Srivats Ram.
Auto major Tata Motors is working to "substantially" increase its market share in the commercial vehicle segment in South India, a stronghold of its rival Ashok Leyland, for which it is ramping up sales network in the region.
The Chennai-based company sold 12,057 units in September 2016, as against 14,783 units during the same month last year.
The proposal from the Hinduja Group came during a meeting with prospective investors and Jharkhand Chief Minister Raghubar Das in New York, an official release said.
Swedish auto giant Scania launched two new models at the Paris Sustainable Transport Forum, which aims to plug the last-mile loopholes in the system.
Eicher Motors has registered a 12.9 percent growth in its commercial vehicle sales at 4,191 units in August compared with 3,711 units sold in same month last year.
The passenger car sales will improve with better monsoon and roll out of 7th Pay Commission, said Vinod Dasari, President, SIAM.
Mahantesh Sabarad of SBICap Securities believes various sectors will be impacted by the rate of Goods and Services Tax (GST), expected to be around 18 percent.
AUM growth may be under pressure due to lower commercial vehicle sales in June 2016, which was 23.1 percent in Q4FY16.