R N Rao, special director, sales and marketing, Ashok Leyland said the company is going ahead with its expansion of capacity despite a drop in sales during the current financial year owing to the economic slowdown in the country. The company is likely to close the current financial year ending March 2009 with a 30 per cent drop in its sales to around 60,000 units including exports compared to the last fiscal, he said.
Ashok Leyland would fully exploit the boom in trade and industrial production and launch 20 new products in all categories of vehicles
Stepping up its research and development investments, leading truck and bus maker Ashok Leyland plans to double the headcount in the division to over 500 people in the next 12-18 months.
Ashok Leyland Ltd is readying to manufacture its trucks and buses in China and Pakistan within the next 12-18 months as part of plans to increase its business in overseas markets, R Seshasayee, managing director of the company, said on Monday.
India's second-biggest truck and bus maker Ashok Leyland Ltd reported on Friday a 4.7 per cent fall in fourth-quarter earnings despite a 20.8 jump in total income, the Bombay Stock Exchange said.
Ashok Leyland is likely to increase prices of its commercial vehicles across all models by April 2010 to offset rising input costs.
Hinduja Group flagship company Ashok Leyland on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.
Auto major Ashok Leyland on Friday said it would export buses to Pakistan soon and was also exploring the Chinese market.
Automobile manufacturer Ashok Leyland Ltd plans to cut 1,000 jobs during 2003-04, and to improve productivity through better processes and standardisation, R Seshasayee, the company managing director, said.
Truck and bus maker Ashok Leyland on Friday said its net profit has surged by 63 per cent during the October-December quarter due to higher vehicle sales and lower financial expenses.
Although the broad contours of the proposed agreement with Ashok Leyland to build a range of small cars is yet to be outlined, Nissan's intention is clear counter Volkwagen's plans with Suzuki to target the compact car segment.
Commercial vehicles major Ashok Leyland has reported a 51.9 per cent increase in its net profit at Rs 14.81 crore (Rs 148.1 million) in the first quarter ended June 30 as against Rs 9.75 crore (Rs 97.5 million) in the same period last year.
The joint venture of Ashok Leyland and Nissan for manufacturing light commercial vehicles would become operational during the current financial year, executive vice-chairman of Hinduja Group India Subir Raha said.
Leyland expects the digital drive to help tap its in-house strength as well as segments such as passenger cars and two-wheelers.
The Hinduja Group flagship firm Ashok Leyland is planning to set up a multi-million dollar plant in Iran for assembling CNG trucks and buses.
The Hinduja Group said on Thursday that it is looking to expand the geographical reach and production capacity of flagship automobile firm Ashok Leyland in a big way to make the company one of the top 10 global commercial vehicle producers in the next five years.
'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
Ashok Leyland Ltd has posted a net profit of Rs 232.87 million for the quarter ended December 31, 2002 as compared to Rs 135.18 million in the quarter ended December 31, 2001.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
The valuation for the unit has been carried out by PriceWaterhouseCoopers and finalised by the board committee comprising all the independent directors.
'In April, we saw a 10 per cent growth in our own volumes.'
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
'I want to tell everybody there is nothing in the world that you can't do.' 'If you apply your mind, you can do anything and everything.'
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
Tata Motors with its stronger balance sheet and diversified presence is relatively better poised to take advantage of the CV industry growth story
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
Asia's richest man Gautam Adani's group on Tuesday said it will deploy hydrogen fuel cell operated trucks for mining logistics and transportation as part of its decarbonisation plan. "Adani Enterprises Ltd (AEL), part of the diversified Adani portfolio of companies, signed an agreement to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation with Ashok Leyland, India, and Ballard Power, Canada," it said in a statement. This collaboration marks Asia's first planned hydrogen powered mining truck.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances