Commercial Vehicle Sales

Rising gas prices constrain CNG penetration in commercial vehicles: Icra

Rising gas prices have constrained CNG penetration in commercial vehicles to 9-10 per cent in the current fiscal from peaks of 16 per cent, Icra Ratings said on Friday. A spurt in global energy prices has led to a 70 per cent jump in the price of CNG in the last one year. This has narrowed the gap between the fuel and diesel, blurring the incentive to shift to the cleaner fuel. In a statement, the rating agency said CNG penetration in the domestic commercial vehicle (CV) sector has witnessed a decline in the current fiscal, especially in the MCV truck segment. "Rising CNG prices have narrowed the gap with diesel and in turn, diminished the running cost savings from CNG vehicles, which has been the key deterrent," it said. Notwithstanding the recent decline witnessed in CNG penetration, medium-term prospects remain favourable given the improving CNG fuelling infrastructure and push for cleaner vehicles, it added. Icra said CV industry has witnessed a contraction in the penetration

Ashok Leyland appoints Shenu Agarwal as new managing director, CEO

Shenu joins Ashok Leyland from Escorts Kubota Ltd, where he was president

Domestic passenger vehicle sales likely to rise over 30% in Nov: Report

Domestic passenger vehicle sales are expected to rise over 30-per cent year-on-year in November, driven by large order book and higher vehicle production while the commercial vehicle segment sales volume could grow in double digits during the month, a report said on Friday. Tractors volumes, however, are likely to remain muted on inventory destocking with dealers, brokerage firm Emkay Global Financial Services said in a report. It also said that vehicle discounts have reduced on a sequential basis and remain significantly lower than the elevated levels seen in the past. Automobile makers in the country are set to publish vehicle sales data for November on December 1. The PV segment is likely to record higher volumes on account of the large order book while the CV and two-wheelers are likely to maintain their positive growth momentum in November, Emkay Global said. Projecting over 30 per cent growth for the passenger vehicle segment in the current month over the same month last ye

Auto sales up 48% in Oct; all vehicle segments gain in festive season: FADA

Two-wheeler segment up 51%; high demand continues for SUVs and premium cars

Commercial vehicles on recovery track, to touch FY19 peak next fiscal: VECV

Commercial vehicles (having more than 3.5 tonnes capacity) had dropped from the 2018-19 peak to 2,34,299 vehicles in 2020-21 and had increased to 3,43,199 units in 2021-22

Automobile sales revved up 11% in Sept amid festival fervour: FADA

October likely to be good, too, amid the festival season

Expect CV industry to grow in double digits this fiscal: Tata Motors ED

Tata Motors expects the commercial vehicle industry sales growth to be in double digits this year despite hike in interest rates on auto loans, according to a senior company official. Favourable factors such as government's investment in infrastructure, gradually increasing consumption in the country and robust growth in end-use sectors like e-commerce outweigh headwinds such as high inflation and increased interest rates, Tata Motors Executive Director Girish Wagh told PTI. "The actual demand is going to be a net factor of the headwinds and tailwinds, within which the inflation, interest rates remain kind of headwinds," he said. On the tailwind side, Wagh said the government's investment in infrastructure and number of projects, the gradually increasing consumption in the country as also the end-use sectors such as e-commerce are showing robust growth. Also, he said the rising freight rates and fleet utilisation are continuously increasing the transporter confidence index. "It do

Top headlines: Vehicle sales up 8% in Aug; Fitch affirms rating for 4 NBFCs

Two-wheeler sales were up 8.5 per cent and three-wheeler by 8.3 per cent in August. Passenger and commercial vehicle sales increased 6.5 per cent and 24 per cent

VECV reports bus sales rising, sees chip crisis easing in 3 months

Company betting on alternate fuels for growth in commercial vehicles sales, says senior executive

Wheels India reports 6% rise in Q1 net profit as CV demand rises

Senior executive says 'early signs of slowdown in global economy'

PV sales expected to be strong in July as production rises: Report

Passenger vehicle sales are expected to be robust in July, driven by a large order book and production ramp-up, while commercial vehicle volumes may remain in an uptrend, a report said on Thursday. However, tractor volumes are likely to decline due to a high base and uneven spread of the monsoon, according to brokerage firm Emkay Global Financial Services, which has retained a positive view on the auto sector. Emkay Global also expects an improvement in two-wheeler sales on the back of higher production and inventory build-up with dealers. Passenger vehicle segment should witness a robust growth on a large order book and production ramp-up, with automakers such as Tata Motors, M&M and Maruti Suzuki expected to log 49 per cent, 28 per cent and 8 per cent volume growth, respectively, in July, the brokerage firm said. For the two-wheeler segment, the brokerage estimates a 35 per cent improvement in domestic sales for Eicher Motor-Royal Enfield, 6 per cent each for TVS Motor and Hero .

Sales of two-wheelers, CVs in slow lane; 1.6 mn units sold in May: FADA

Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-Covid month of May 2019, according to FADA

CV maker Ashok Leyland's sales jump four-fold to 13,273 units in May

Sales of light commercial vehicles in the domestic market stood at 5,190 units in May, as against 1,225 units in May 2021, the company said.

Truck, bus sales by top-5 manufacturers up 64% to 65,540 units in April

Though growth was seen across segments, big sales push came from small CVs used for last-mile delivery as demand from e-commerce firms remained strong

Mahindra's sales jump 25% to 45,640 units in April, SUV segment grows 22%

Mahindra & Mahindra (M&M) on Monday said its total sales increased by 25 per cent to 45,640 units in April. The company's total sales stood at 36,437 units in April 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 23 per cent to 22,526 units last month against 18,285 in April last year, the auto major said in a statement. Commercial vehicle sales increased to 20,411 units last month compared to 16,147 in April 2021. The company said its exports last month stood at 2,703 units against 2,005 in the year-ago period. "We continued our growth trajectory in the SUV segment with sales of 22,168 vehicles, registering a growth of 22 per cent. Our commercial vehicles registered growth across all segments, and exports were also up at 35 per cent," M&M President (Automotive Division) Veejay Nakra said. Demand across products continues to be robust with strong booking numbers and pipeline, he added. "There were a number of supply chain ...

Ashok Leyland reports 42% rise in total commercial vehicle sales in April

The company had sold 8,340 units in the same month last year, Ashok Leyland said in a regulatory filing

Bajaj Auto sales slip 20% to 310,774 units in April, domestic down by 24%

Commercial vehicle sales in the domestic market, however, grew by 13 per cent to 8,944 units compared to 7,901 units in the same month last year, Bajaj Auto said

Two-wheeler sales drag domestic auto sales to six-year low, exports shine

Overseas shipments by volume of scooters and motorbikes hit the highest since FY16

Tata Power to set up EV charging stations at vehicle zones of Apollo Tyres

Tata Power has partnered with Apollo Tyres to deploy electric vehicle charging stations at the latter's commercial and passenger vehicle zones across India. Tata Power and Apollo Tyres have announced a strategic partnership in this regard, a statement said. Tata Power has a presence across all the segments of the EV charging ecosystem and has deployed all types of chargers DC 001, AC, Type2, Fast DC chargers up to 50kwh and up to 240kwh chargers for buses. "We are glad to partner with Apollo Tyres for the deployment of EV charging stations across their commercial & passenger vehicle zones. This partnership reflects our commitment to developing and expanding the electric vehicle ecosystem in the country," Praveer Sinha, CEO and MD of Tata Power, stated. Based on location, this classification of chargers will support EV charging for two-wheelers and four-wheelers, respectively. As per the agreement between Apollo Tyres and Tata Power, the latter will set up Charging Stations at 150

Eicher Motors Q2 consolidated net profit rises 9% at Rs 373 crore

Total revenue from operations during the quarter stood at Rs 2,249.56 crore as against Rs 2,133.6 crore in the year-ago period