LCV & HCV
Ashok Leyland bags order for 1,282 buses from Gujarat state road transport corp
Ashok Leyland has secured an order from the Gujarat State Road Transport Corporation (GSRTC) for 1,282 fully built buses. This is one of the largest orders from a state transport undertaking for a single original equipment manufacturer (OEM) and will strengthen Ashok Leyland's position in the Indian bus market.
Tata Motors to hike commercial vehicle prices for third time in 2023
The price increase is to offset the residual impact of the past input costs and will be applicable across the entire range of commercial vehicles, Tata Motors said in a statement.
Rising ownership costs to hurt India's commercial vehicle volume growth: Fitch
The ratings agency said increasing regulatory requirements, elevated inflation and high interest rates have pushed up the ownership costs, thereby weighing on purchase decisions.
Ashok Leyland to invest Rs 1000 crore in a greenfield plant in UP for making e-buses
Ashok Leyland, the Hinduja Group's flagship company, has signed an agreement with the Uttar Pradesh Government to set up a greenfield plant for manufacturing electric buses. The company will invest Rs1000 crore into the facility, which will have the capacity to produce 2500 buses per year initially and can be scaled up to 5000 vehicles per year in the next decade. The government of Uttar Pradesh has committed to facilitating the sale of electric buses for its own fleet and other stakeholders for the next five years through Ashok Leyland's subsidiary, Switch Mobility.
Vision is to be among top 10 global CV players: Ashok Leyland
Ashok Leyland, the Hinduja group's flagship company, aims to be among the top 10 global commercial vehicle manufacturers in the near future. The company is focusing on exploring new markets and expanding its sales volume in India. Ashok Leyland has developed modular products like the 'Avtar' to serve international markets.
Swaraj Tractors invests Rs 200 cr to roll out new models
Swaraj Tractors, a subsidiary of Mahindra Group, has invested Rs 200 crore in developing a new range of tractors in the 40-50 HP category to meet the changing needs of farmers. The new tractors, which come with a variety of features and applications, will eventually replace the company's existing models in the same category.
Ashok Leyland expands product offering in CNG, launches truck in 18.5 tonne segment
President-MHCV, Ashok Leyland, Sanjeev Kumar said, "in an endeavour to expand our product offerings in the CNG segment to strengthen the portfolio, and meet the ever-growing demands of the customers, we have introduced 1922 4X2 truck in the 18.5T segment...this new range will further strengthen our portfolio, helping us improve our market share in the fast-growing CNG space."
Mahindra unveils new range of small tractors; eyes doubling tractor exports in 3 years
The company said it has invested Rs 1,200 crore on developing the OJA platform which consists of four platforms that could churn out 40 different trims in the 20-70 HP power output. The company aims to cater to the needs of farmers with small land parcels, especially in India, US and ASEAN region with the new range. Mahindra & Mahindra President - Farm Equipment Sector Hemant Sikka said the OJA brand would help in enhancing the company's share in the market while helping it enter new markets.
Mahindra & Mahindra rolls out new wheel harvester under Swaraj brand
Mahindra & Mahindra (M&M) has introduced a new wheel harvester manufactured at the company's new facility at Pithampur in Madhya Pradesh, India. The Swaraj 8200 Wheel Harvester comes equipped with a TREM-IV compliant engine and advanced features, providing live information for better decision-making, including live location tracking, fuel consumption, acres harvested, and road kilometers travelled.
VECV secures order to supply 550 intercity buses worth Rs 500 crore
The order of 550 buses is an indication of the company's robust expansion plans going forward to become a pan-India operator, Vijayanand Travels said in the statement. "Vijayanand Travels has placed the largest order in India for 550 intercity buses from Volvo and Eicher. The approximate worth of the order is Rs 500 crore, which includes 500 units of Eicher Intercity 13.5m AC and non-AC sleeper coaches and 50 Volvo 9600 luxury sleeper coaches," it said.
AMW Motors admitted for insolvency as Triton fails to implement revival plan
“Triton Electric Vehicle has failed to fund and implement the resolution plan and has thus contravened the resolution plan,” the division bench of judicial member Shammi Khan and technical member Ajai Das Mehrotra observed in its order of July 27. “We are of the view that the present (liquidation) application deserves to be allowed.”
Ashok Leyland embarks on cross-country expedition marking 75th anniversary
As many as 10 vehicles would be traversing across cities including Bengaluru, Mumbai, Leh, Kolkata, Dibrugarh, on five different routes commemorating the occasion.
Cost savings boosted Ashok Leyland's margin, will help sustain momentum: Executive chairman Dheeraj Hinduja
"We are expecting to continue our performance in terms of double-digit Ebitda margins, for this year. We have been able to get there due to a combination of cost-saving measures and a good performance of our AVTR range of trucks, which in turn has allowed us to price our products well," executive chairman Dheeraj Hinduja told ET.
M&M tractor sales up 6 pc in June at 44,478 units
Mahindra & Mahindra Ltd on Monday reported a 6 per cent growth in total tractor sales at 44,478 units in June, as compared to the same month last year. Domestic tractor sales were at 43,364 units last month, as against 39,825 units in the year-ago period, a growth of 9 per cent, it added.
Ashok Leyland June sales up 5% at 15,221 units
Ashok Leyland, a commercial vehicles maker, saw a 5% increase in total vehicle sales in June, amounting to 15,221 units. Domestic sales also rose by 7% to reach 14,363 units, with medium and heavy commercial vehicle sales growing by 10% to 9,274 units. Additionally, sales of light commercial vehicles in the domestic market marginally increased to 5,089 units.
Expect commercial vehicle industry to grow by 8-10 per cent this fiscal: Ashok Leyland
Ashok Leyland expects the domestic commercial vehicle industry to grow by 8-10 per cent this fiscal aided by record government spending on infrastructure projects and strong replacement demand emanating from core industries. In his address to shareholders in the company's Annual Report for 2022-23, Ashok Leyland Chairman Dheeraj G Hinduja said the commercial vehicle sales this fiscal were expected to exceed the previous peak attained in 2018-19.
