LCV Vehicle News: LCV Vehicle Latest News, LCV Vehicle Latest Updates | The Economic Times
India's commercial vehicle sales are projected to reach pre-pandemic levels, nearing 1 million units, fueled by infrastructure growth and replacement demand. Light commercial vehicles will lead, driven by e-commerce expansion, while government initiatives like the PM-eBus Sewa scheme will boost electric vehicle adoption.
Ashok Leyland will cease manufacturing operations at Switch Mobility in the UK to reduce losses, citing economic uncertainty in the British bus industry and slow EV transition. The company will continue catering to the UK market from its facilities in India and the UAE, while Switch India focuses on the growing EV market there.
Ashok Leyland's electric bus unit Switch Mobility may close its Sherburn plant in the UK as part of a review process. This could make the unit profitable soon. Switch UK will continue operations in other UK plants and fulfill all orders. The focus will shift to the growing electric bus market in India.
Domestic commercial vehicle industry's wholesale volumes are projected to grow by 3-5% in FY26, stated rating firm Icra. This follows expected flat growth in FY25 due to early fiscal demand slowdown. Increased construction, infrastructure development, rural demand, and fleet replacements due to ageing vehicles are key factors contributing to future growth.
Ashok Leyland, India's second largest truck and bus manufacturer, is advancing in its cost optimisation journey, targeting over ₹2,000 crore savings by March 2025. The company has already reduced costs significantly and aims to save an additional ₹600 crore this fiscal year. With improved profit margins and expanded non-truck businesses, the company is focused on sustained profitability and market adaptability.
Tata Motors is investing around Rs 2,000 crore annually in new commercial vehicles and capital equipment development, focusing on technologies such as alternate fuels, zero emission battery electric, fuel cell electric, and hydrogen ICE. The company's initiative includes addressing sustainability, safety, and digital trends through the 'Better Always' transformation.
VE Commercial Vehicles has signed an agreement with Baidyanath-LNG to deploy 500 LNG trucks, promoting cleaner fuel alternatives in India's long-haul transport segment. The partnership aims to enhance the LNG ecosystem by deploying Pro 6055 LNG trucks, training technicians, and developing fueling networks across Central India.
Ashok Leyland introduces the Saathi, an entry-level Light Commercial Vehicle, and the GARUD 15, India's first front-engine, multi-axle 15-meter premium bus at Bharat Mobility Global Expo, emphasizing its innovation in commercial vehicles. Additionally, the eTIRAN Terminal Tractor enhances port operations with customizable battery range and advanced safety features.
Mahindra Tractors has teamed up with Punjab National Bank to offer channel finance solutions to its dealers. Dealers with over a year of business can access finance limits up to Rs 5 crore based on 105 days of sales. They will benefit from a 105-day credit period and 100 per cent funding of Mahindra & Mahindra invoices without margin requirements.
Ashok Leyland's total wholesales in November 2024 increased by 1% year-on-year to 14,137 units, up from 14,053 units in November 2023. Domestic sales dropped by 4% to 12,773 units. Sales of medium and heavy commercial vehicles rose by 8% to 9,176 units, while light commercial vehicle sales fell by 11% to 4,961 units.
India's truck and bus makers have projected a sales recovery. Freight movement is improving. Construction and mining are resuming. Government infrastructure projects are restarting. Kilometre usage by commercial vehicles is picking up. Sales rose in October. The festive season boosted consumer sentiment.
Driven by a favorable monsoon season and positive market sentiment, tractor sales in India are projected to surge by 8-10% during the September-November festive period. Despite a sluggish first half, the industry anticipates double-digit growth in the latter half of the fiscal year, culminating in an overall mid-single-digit growth for the year.
Ashok Leyland, the flagship company of the Hinduja Group, is set to expand its presence in the Southeast Asian market. The company has plans to enter four new markets in the region, including the Philippines and Malaysia. This strategic move is part of Ashok Leyland's goal to achieve record international business growth in the current financial year.
Truck manufacturers in India are changing truck designs to improve driver comfort and efficiency. Modern trucks feature car-like interiors, better aerodynamics, and enhanced safety. Electric drivetrains offer new design possibilities. This evolution seeks to address the shortage of drivers and aims to make the job more appealing.
India's Vehicle Scrappage Policy targets around 1.1 million commercial vehicles over 15 years old, aiming to boost replacement demand and modernise fleets. Despite benefits like reduced air pollution and raw material costs, challenges include limited scrapping facilities and awareness. An additional 5.7 lakh vehicles may reach the 15-year age by 2027, enhancing potential replacement.
Swaraj Tractors, a part of Mahindra Group, introduced the Target 625 tractor with both two-wheel and four-wheel drive options. Featuring an 83.1 Nm torque diesel engine and a lifting capacity of 980 kg, it aims to cater to modern farming needs and narrow field navigation.
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