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...
TechNavio's analysts forecast the Automotive Engineering Service market in India to grow at a CAGR of 18.22 percent over the period 2012-2016. One of the key factors contributing to this market growth...
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...
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...
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...
Tata Motors' UK luxury car unit Jaguar Land Rover booked record sales, revenues and pre-tax profit for the full fiscal year to 31 March, 2013....
Johnson Controls has acquired full ownership of Tata Johnson Controls (TJC), its former 50/50 joint venture with Tata Automotive Components (TACO)....
- COMMENT: US JLR plant likely to get a warm welcome
- THE WEEK THAT WAS: Paris, the US, Sweden...
- VEHICLE ANALYSIS: 2014 Kia Sportage
- Special management briefing: Paris reflections (2)
- Special management briefing: Paris reflections (1)
- JLR eyes US southern states 'transplant' - paper
- Tesla outsells rivals as Europe sales rise 6%
- JLR looks to increase home supply content
- JLR-Chery JV opens China factory
- Ford announces new engine investment for Dagenham
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- Global light vehicle safety systems market- forecasts to 2029
- Ford Motor Company - Strategy and SWOT Report
- PLDB - vehicle cycle plan database (annual subscription)
- LMC Automotive's European Passenger Car Production Estimates (annual subscription)