The Eicher Pro X is assembled on an all-women assembly line.
'Instead of ACs, the government should do something to increase our salary.'
Eicher had announced in July this year that it was interested in an alliance or a strategic partnership to become a full-range commercial vehicle player. It currently makes light and medium trucks. MIL makes only heavy trucks.
Commercial vehicle manufacturer Eicher Motors Ltd on Monday said it will form a joint venture (JV) with Swedish truck maker AB Volvo, which will have an enterprise value of $506 million.
The company reported on Tuesday 10 per cent increase in commercial vehicle sales in June at 2,464 units, while its year-to-date sales also grew by 14 per cent compared to the same period last year.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
Eicher Motors is all set to venture into the all-luxury bus segment with two model launches this financial year.
The move could be aimed at increasing penetration in emerging markets.
The approval to bring in the FDI is subject to compliance with RBI and SEBI guidelines, besides subjected to approval of the relevant high courts for the demerger of distribution business of Volvo India. The finance ministry had already approved the FDI proposal of Volvo to invest $30 million (Rs 123 crore) for induction of foreign equity up to 8.1 per cent by way of acquisition of shares in EML.
Sales of commercial vehicles, which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
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.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
Combined sales at top four manufacturers - Tata Motors, Ashok Leyland, Volvo Eicher Commercial Vehicles, and Mahindra and Mahindra - dropped 20 per cent to 20,324 units in November
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
Two suspected beef smugglers from western Uttar Pradesh were arrested near the Delhi border after a gunfight with the Noida police on Thursday morning, officials said.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
MHCV sales' grew by 9% to 5,033 units over September 2020 and 3% over October 2019, the first month registering growth over the previous year.
Increased truck sales, new models push Leyland's share to 34%, from 30.2% in the same quarter a year before.
The company sold about 1,000 trucks last year in special segments like mining, registering a growth of about 20-25 per cent.
The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers. This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts. Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT).
Swedish behemoth Volvo has charted out an aggressive strategy to become a leader in the country's heavy commercial vehicle sector, following its alliance with the Delhi-based Eicher Motors.
At the core of the new joint venture is an attack on Tata Motors, which dominates the commercial vehicle sector in the world's fourth-largest market for heavy trucks.
The Volvo Group, one of the world's leading heavy-duty commercial vehicle (CV) and diesel engine makers, is engineering a fresh push in India, one of the world's biggest growth markets for commercial vehicles.
Surging truck sales of Tata Motors, Ashok Leyland and Eicher Motors drove commercial sales up by 34.6 per cent during the first eight months of this fiscal.
Transporters and other stakeholders said the vehicles that will be de-registered would mostly be the ones plying in smaller towns and interior parts of the country.
Nowhere is the need for infrastructure more evident than in India 's cities.
The S&P BSE Sensex has rallied about 28 per cent in 2014, after formation of a stable government at the Centre.
Pawan Munjal, chairman and managing director of Hero MotoCorp, the country's biggest two-wheeler maker, leads the pack among automobile CEOs.
The commercial vehicle business is one of the mainstays for the Tata group, highlighting the importance of Girish Wagh's appointment.
More than just a legacy brand in commercial vehicles, Ashok Leyland wants to be seen as an old brand embracing new values.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
T N Ninan lists a few David-Goliath encounters in the Indian markets, all of which make life interesting, though difficult if you are an investor looking for the next multi-bagger.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Every time we pointed out the overwhelming evidence of diesel's toxicity, we were brushed aside.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
An excerpt from Conde Nast India's Make In India magazine.
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