Toyota Motor Corporation and Mitsubishi Corporation are among the leading bidders to operate Patimban port in West Java, Indonesia, that is currently under construction and being developed by the Indonesian government with funding from the Japan International Cooperation Agency (JICA).
The port is expected to start operations in 2020. At full build out, it will have a capacity of 7.5 million Twenty Foot Equivalent Unit (TEU), not far short of Tanjung Priok port's current capacity of eight million TEU.
Patimban port is regarded as key to the operations of the two major vehicle manufacturers since it is located only a two-hour drive from the Cikarang industrial ...
Tata Motors on Tuesday reported a 16.8% fall in consolidated net profit for the March quarter from a year ago due to a currency exchange impact and a one-time loss on the transition from BS-III to BS-IV norms.
Consolidated net profit for the quarter stood at INR 4,336 crore against INR 5,211 crore in the year-ago quarter. Revenue for the quarter fell 2.6% to INR 78,980 crore from INR 81,079 crore a year ago.
The company said that Consolidated revenue in the quarter was INR 9,032 crore lower owing to a translation impact from pounds to rupees. Guenter Butschek, CEO at Tata Motors said that “We’ve seen strong headwinds and some big misses in this quarter...
Tata Motors has launched the new BS IV-ready medium and heavy duty trucks with ‘exhaust gas recirculation’ (EGR) and ‘selective catalytic reduction’ (SCR) technologies in Tamil Nadu.
The company has perfected both technologies for its wider range of commercial vehicles from SCVs to HCVs (as per technical suitability) to meet the recently implemented emission standards, said Rajesh Kaul, Head (Sales and Marketing), Medium and Heavy Commercial Vehicles (MHCV), Tata Motors.
He said that “SCR technology allows optimal engine combustion temperatures for better power, performance and fuel efficiency, is globally proven while EGR is a relatively low cost, simple and easy...
Ashok Leyland is unlikely to focus on the sub-1 tonne segment due to unfavourable growth potential.
Even as it seeks to double its market share in the LCV segment from 15% to about 30% over the next 3-4 years through ‘one new product per quarter’ plan, Ashok Leyland has decided to skip the sub-1 tonne mini-truck segment and will roll out new products /variants between 2 tonnes and 7.5 tonnes. Volumes in the sub-1 tonne segment, where Tata Ace is a dominant player, have been shrinking over the past few years.
Nitin Seth, President, LCV and Defence, Ashok Leyland said that “The sub-1 tonne market has shrunk around 50% in the last three years.&rdquo...
Tata Motors today reported over 9% decline in global sales in April at 73,691 units, including that of Jaguar Land Rover (JLR) vehicles.
Tata Motors said in a statement, the company had sold 81,333 units in April 2016. In the passenger vehicles category, global sales stood at 54,847 units last month as against 51,749 units during the same period in 2016, up 6%.
Sales of luxury brand Jaguar Land Rover grew 2.41% to 41,923 units in April compared with 40,933 units in the same month of 2016.
However, sales of commercial vehicles declined by 36% to 18,844 units as against 29,584 units in the year—ago month....
Tata Motors today reported a 21% decline in total sales in April at 30,972 units as compared to 39,389 units in the same month last year.
Domestic sales of Tata Motors' commercial and passenger vehicles declined by 19% to 28,844 units in April, as compared to 35,604 units in the same month of the previous year. Sales of passenger vehicles in the domestic market grew 23% to 12,827 units last month.
Tata Motors President Passenger Vehicles Business Unit Mayank Pareek said in a statement, "While the industry faced short-term headwinds further to the BS III verdict, Tata Motors continued its robust sales performance with a growth of 23% in April led by a stro...
Ashok Leyland today reported a 30% decline in total sales at 7,083 units in April.
The company had sold 10,182 units in the same month last year.
The company said in a statement, Sales of heavy and medium commercial vehicles declined by 43% to 4,525 units last month as against 7,873 units in the year-ago period.
It added, Light commercial vehicle (LCV) sales rose by 11% to 2,558 units compared to 2,309 in April last year....
Indian oil on Monday revised the price of diesel upwards by INR 0.01 per litre in 3 of the 5 markets where a daily fuel price revision is being implemented.
The price of diesel has been hiked in Jamshedpur, Udaipur and Visakhapatnam, according to an official statement.
The price of petrol has been kept unchanged in the 5 markets of Jamshedpur, Udaipur, Chandigath, Puducherry and Visakhapatnam.
Public sector undertaking oil marketing companies have started implementing a daily revision of petrol and diesel prices in select markets. The fuel price remains unchanged in all other cities....
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....