Ashok Leyland today said it has lined up around INR 600 cr capex for this fiscal to enhance cabin and engine capacity besides setting up new assembly units in Kenya and Ivory Coast.
The company is bullish on the Indian commercial vehicle market and expects the industry to grow around 10—15% this fiscal.
Ashok Leyland Managing Director Vinod Dasari said that “We will have capex (capital expenditure) to enhance capacity of cabin and engines. We will not be building new plant for enhancing overall capacity.”
He further said the second requirement of capex will be for developing future technologies like modular vehicles and BS—VI emi...
The country saw construction of 22 kilometer (km) of national highways (NH) per day last fiscal against the target of 41 km a day.
“The rate of construction of NHs during the last 2 financial year 2015-16 and 2016-17 was 16 km a day and 22 km per day, respectively,” Minister of State for Road Transport and Highways Mansukh Lal Mandavia said.
He said that the Ministry had set an ambitious target of 15,000 km which comes out to be 41 km per day during 2016-17....
Freight rates for 9-tonne payload section to select destinations eased by INR 500 at the local truck transport market in the national capital today following restricted cargo movements amid excess position of trucks.
Transporters said fall in cargo movements against easy availability of trucks led to fall in select freight rates.
Freight rates from Delhi to Jaipur, Kanpur and Chandigarh dropped by INR 500 each to INR 15,000, INR 18,000 and INR 16,000.
Elsewhere, other centres freight rates managed to keep freight rates around overnight levels on some support.
Following are today's freights per 9-tonne load (in INR): Jaipur 15,000 Hyderaba...
Tata Motors has reported about 9% rise in global sales in March at 1,29,951 units, including that of Jaguar Land Rover (JLR) vehicles.
Tata Motors said in a statement, the company had sold 1,18,750 units in March 2016.
In the passenger vehicles category, global sales stood at 87,355 units last month against 73,515 units during the same period in 2016, up 19%. Sales of luxury brand Jaguar Land Rover grew 11% to 71,609 units in March compared with 64,579 units in the same month of 2016.
However, sales of commercial vehicles (CV) declined by 6% to 42,596 units from 45,235 units in the year-ago month....
Volvo Eicher Commercial Vehicles (VECV) has recorded 8.5% year-on-year growth in sales for the month of March 2017 and stood at 7.327 units.
This includes 7088 units of Eicher brand and 239 units of Volvo brand, informed the Indian commercial vehicle manufacturer in a statement.
VECA has sold 6753 units in March 2016. Eicher branded trucks & buses have recorded total sales of 7088 units in March 2017 as compared to 6633 units in March 2016, representing a growth of 6.9%.
In the domestic commercial vehicle market, Eicher branded trucks & buses have recorded sales of 6410 units in March 2017 as compared to 5944 units in March 2016, representing a ...
The last month of fiscal 2016-17 appears to have brought many cheers for the trucking industry.
While Supreme Court ban on sale of BS III trucks led to huge discounts for new purchases during the last 2-3 days of March, truck freight rates also went up 3-4% on trunk routes during the month with improvements in cargo flow from agri and manufacturing sectors.
After three years, March saw its best performance as cargo offerings from agri sector, factory output and exports displayed an increase of 15-20%, 8-10% and 4-5%, respectively, in full truck load despatches and that resulted in an increase in truck rentals by 3-4% with better fleet utilisation, according to New...
Nearly half the commercial vehicles (CV) in Tamil Nadu (TN) are off the roads and more expected to join the indefinite lorry strike called by the All-India Confederation of Goods Vehicle Owners’ Associations (AICGVOA).
The strike from Saturday by the AICGVOA is to demand a rollback of 50% third party premium hike announced by Insurance Regulatory and Development Authority of India from April 1, hike in penalties proposed in Motor Vehicle Amendment Bill 2016 and four-fold increase in Regional Transport Office fees hike announced on December 29, 2016.
Rajinder Singh, General Secretary, AICGVOA said that “The response to the strike is only 50:50 in Tamil ...
Tata Motors today said it has formed a 50:50 joint venture (JV) with Coimbatore-based Jayem Automotives for developing special performance vehicles.
The JV firm JT Special Vehicles will develop a range of performance vehicles in a phased manner at a dedicated line, currently being explored at Coimbatore.
As part of the agreement, Tata Motors and Jayem will work towards performance enhancement and appearance of series vehicles to offer an exciting and innovative range of niche aspirational products for the passenger car customers.
Tata Motors Chief Executive Officer (CEO) and Managing Director Guenter Butschek said in a statement, “We are delighted...
Analysts said that Ashok Leyland and Hero Motocorp and Tata Motors are likely to face the brunt of the Supreme Court's verdict, banning the sale and registration of older Bharat Stage 3 (BS-III) vehicles from April 1.
Commercial vehicles (CV), two-wheelers and three-wheelers will be impacted by the order, while passenger vehicles have already migrated to BS4, and are safe.
Brokerages such as Bank of America-Merrill Lynch, HSBC, Nomura & Goldman Sachs said that Ashok Leyland, Hero Motocorp and Tata Motors are to going to be affected the most while Maruti Suzuk and Bajaj Auto will be least impacted. Sahil Kedia, analyst, Bank of America-Merrill Lynch said th...
Freight rates for 9 tonne payload section for select destinations rose by INR 500 at the local truck transport market in the national capital today due to pick-up in cargo movements against tight availability of trucks.
Transporters said, besides pick-up in cargo movements, tight availability of trucks mainly led to the rise in freight rates of select centres.
Freight rates from Delhi to Kanpur, Chandigarh and Jaipur were up by INR 500 each to INR 19,500, INR 17,500 and INR 16,500, respectively.
Following are today's freights per 9-tonne load (in INR): Jaipur 16,500 Hyderabad 57,000 Chandigarh 17,500 Vijayawada 59,000 Ludhiana 18,000 Bengaluru 65,00...