INDIA: Truck sales hit by industrial curbs
Sales of medium and heavy trucks in India fell 30% in November, the steepest drop since the global financial crisis peaked in 2008-09.
The Economic Times of India said slowing industrial activity, curbs on mining and delayed infrastructure projects forced buyers to postpone purchases which have fallen to their lowest since March 2009, despite the highest ever discounts available.
Tata, India’s largest truckmaker, reported a 40% year on year drop for November with sales of 9,495 units compared with over 16,000 units.
The company said it was operating at 70-75% of capacity to avoid an inventory pile-up. Suppliers say there is underused capacity of around 30-35% across the sector.
Dealers told ET November was one of the worst months in a long time and the outlook remains bleak for December. Despite big discounts and 100% finance, trucks are not selling.
It is thought that sales may not pick up until the second half of 2013.
The mining ban in India has taken a big toll on medium and heavy duty tipper truck sales because major iron ore, sand and coal mines remain closed.
As well as heavy discounting, Tata and Ashok Leyland have started aggressive advertising.
In the current fiscal year from April to October, medium and heavy duty truck sales fell 17.67% to 133,000 units. For the first seven months, Tata sales dropped 23.10%.
Quarterly and other results to the thirty-oneth of March continued to dribble in this week so let's start by hoisting the Union Jack, drum roll, trumpet blast, and highlight Jaguar Land Rover's 11% fu...
Trucks in India industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions...
This QUBE report from just-auto provides a comprehensive overview of the global heavy trucks market, major manufacturers, top markets, manufacturing trends and market size forecasts. Use this report t...
Business Monitor International's Indonesia Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with indepe...
A rise in profits at British luxury vehicle unit Jaguar Land Rover was not enough to offset an overall fall in fourth fiscal quarter after tax earnings at parent Tata Motors. Nonetheless, results were...
The Saudi Arabia Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and compet...
Positioning is paramount in the car industry and Tata Motors' Jaguar Land Rover is in pole position according to Christian Stadler, associate professor of strategy at Warwick Business School in Englan...
- INTERVIEW: Ford of Europe's chief, Stephen Odell
- THE WEEK THAT WAS: iOS (and Android) in the car
- GENEVA WRAP: Europe still struggles, future bright
- Jaguar Land Rover's lightweight future
- COMMENT: Russian auto jitters in Crimea poker
- EXCLUSIVE: Renault axes another EV
- Jaguar recruits Beckham as China brand ambassador
- 'One Ford' has kept us alive in Europe
- Tata mulls platform collaboration with Chery
- Geely to axe domestic brands
- Tesla: The Californian start-up that made head way on the automotive giants
- Dacia: The no frills automotive brand, that is becoming a serious world contender
- China’s One-Child Policy is Shaping a New Automotive Landscape
- PLDB - vehicle cycle plan database (annual subscription)
- Global light vehicle HVAC market 2008 to 2028