Volvo Auto India will increase prices of vehicles across its model range by up to 2% from April.
The increase is due to rise in input costs which affects all models sold in India, the company said in a statement.
The company sells a range of luxury cars and SUVs, from the V40 hatchback to plug—in hybrid SUV XC90 Excellence, which are priced between INR 25.49 lakh and INR 1.25 crore.
The company said that “All the models would undergo an upward revision in the ex—showroom prices by up to 2.5%. The revised prices shall be effective in April 2017.”
On Tuesday, Honda Cars India had announced that it would hike prices of it...
Ashok Leyland is looking to strengthen presence in the country's logistics sector that is estimated to touch USD 370 billion by 2020.
The company is enhancing its range of fully built vehicles in order to tap the sector which is expected to grow at a CAGR of 16%.
The Chennai-based firm, which is the second largest commercial vehicle manufacturer in the country, has around 45% share in the truck segment in the logistics sector.
Ashok Leyland President - Global Trucks Anuj Kathuria said, "We want to further strengthen our position through our vehicles, offering the latest in technology, which help our customers earn better margins.”
The government today said it has sanctioned for Andhra Pradesh 14 road projects costing INR 4,500 crore in the current fiscal.
Mansukh Mandaviya, Minister of State for Road Transport and Highways and Shipping said that "During the current financial year, the Ministry of Road Transport and Highways has sanctioned 14 major projects costing INR 4,500 crore on National Highways under corridor approach and NHDP 4 scheme for Andhra Pradesh.”
He said that the long pending demand for Vizianagaram bypass has been fulfilled. The work of four-laning of the bypass with concrete road for INR 430 crore has been sanctioned. He added that
Ashok Leyland Limited (ALL) is planning to set up a new facility in Jharkhand.
This will be the first investment from a major automobile company in the state, which has identified the sector as one of the key drivers to make it one of the industrial hubs in the country.
The government and company did not comment about investment. Sources said the company may look at an investment of around INR 500 crore to start with.
Sanjay Kumar, principal secretary to the chief minister of Jharkhand, confirmed the development and said senior members of the Hinduja family, which run the company, met the Chief Minister and held discussions. He did not share more detail...
According to SK Mittal, President, All India Motor Transport Congress (AIMTC), the apex body representing the truck industry, Over 90 lakh trucks across the country will stop plying indefinitely from April 20 if the government fails to meet various demands of truckers’ by March 30.
Truckers want the proposed third-party insurance premium hike by Insurance Regulatory and Development Authority to be dropped and sought an urgent meeting with the government to clarify concerns of truckers on Goods and Services Tax, he said after the 203rd managing committee meeting of the AIMTC here.
Many issues affecting the transport industry were discussed at the meeting held...
The target of construction of National Highways (NH) is 15,000 km, of which 6,604 kilometer (km) have been completed till February in the current financial year 2016-17.
The slow speed of construction is mainly due to land acquisition, utility shifting, non-availability of soil/aggregates, poor performance of contractors, environment/forest/wildlife clearance, ROB and RUB issue with Railways, public agitation for additional facilities, arbitration/contractual disputes with contractors, etc.
There is a well-established mechanism for monitoring and testing of quality of construction and development of the work of National Highways by engaging a consultancy firm of i...
Ashok Leyland gained market share in the medium and heavy (M&HCV) segment during the December quarter.
The other two, Tata Motors and Eicher, saw a dip. According to Kotak Institutional Equities research, based on data from the Society of Indian Automobile Manufacturers, Leyland's share rose to 34%, from 30.2% in the same quarter a year before.
Tata Motors' dropped to 51.6%, from 54% a year before. Eicher's dropped to 10.2%, from 11.6%. The rise was driven by improvement in the truck market share by 4.8 percentage points.
Truck volumes saw an increase across zones and product segments. Leyland's introduction of new vehicles in the in...
Mahindra & Mahindra (M&M) is expanding the international play for its tractors and farm machinery business, targeting to earn 50% of the revenues from the overseas market in the next 2 years.
The world’s top tractor maker by volumes is also open to more acquisitions to expand its reach and product capabilities.
Rajesh Jejurikar, President and Chief Executive, Farm Equipment & Two-Wheelers said that “We would like to see ourselves move from being a domestic tractor maker to a global farm machinery company beyond tractors.”
The company was looking at acquisition opportunities as a part of its overall game plan for the busines...
Truck rentals fell by 2-2.5% during February due to tepid cargo movement from various industrial centres in the country.
This led to a drop in full trip turnaround by another 5-10% on different trunk routes, according to the Indian Foundation of Transport Research and Training (IFTRT), an independent research body.
The rentals during February and up to March 1 were lower or range-bound against the same period last year, said IFTRT, adding that the trucking business is taking “more than expected time to recover” from the supply chain disruption caused by the demonetisation move.
IFTRT collects data in the highly fragmented road transport sect...
Mahindra & Mahindra Limited (M&M) trucks and bus division is looking to double its market share to 7% by 2020.
The company is also working at strengthening its commercial vehicle portfolio by launching products in the 8 to 16 tonne category next year.
M&M currently makes commercial vehicles in the 3.5 to 7 tonne segment and the 25 to 49 tonne truck category.
Rajan Wadhera, President and Chief Executive, Truck and Powertrain Division, M&M, said, “We are working on three platforms to launch vehicles in the 8 to 16 tonne category. They will be launched in 2018.”
The intermediate commercial vehicle segment is dominated...