New Delhi, Apr 1 () VE Commercial Vehicles (VECV) on Wednesday reported an 82.7 per cent decline in sales at 1,499 units in March as compared to 8,676 units in the same month last year.
The sector, which hardly depends on imports from China as localisation levels of critical parts such as sheet metal, engines and transmission gear are close to 95%, seems to have, for a start, escaped the debilitating effect of the Covid-19 pandemic.
Under the project, the company is offering complete transport solution, including twenty air-conditioned electric buses of nine meters each in phase I. Apart from deployment of electric buses, NTPC and Andaman administration are collaborating for setting up public charging infrastructure in the Island. Electric buses are all set to start running on a commercial basis by August 2020.
VE Commercial Vehicles, a joint venture between Eicher Motors and Swedish truck maker Volvo, has decided to go ahead with its plan of setting up a new 40,000-units-a-year factory in Bhopal even as the Indian commercial vehicle market stares at its steepest decline in growth in a decade.
“Dealers are defensive, financers are defensive and so are automakers. As a result, there has been hardly any pre-buy. We expect the same to continue in March. Hence, the demand should be much better in the next financial year than expected earlier,” Vinod Aggarwal, managing director said.
Tractor major Mahindra & Mahindra has posted a 21 per cent growth in domestic sales in February 2020 at 21,877 units, as against 18,105 units during the previous corresponding period.
Daimler India Commercial Vehicles (DICV), the maker of Bharat Benz trucks, expects January-March quarter (Q1) to be positive after decline of multiple quarters, and is hoping for sops in the upcoming budget to drive consumption and cushion the decline that is expected post price increase of almost 10-15% in Q2 and Q3 of 2020 due to the implementation of BS-VI norms-compliant technology.
The company also said that though the January-March quarter of the 2020 is expected to do a little bit better for the segment, the market may be on a lower trajectory once the BSVI norms come into effect from April 1.
Haryana-based PMI Electro Mobility Solutions, which has a technical tie-up with Chinese commercial vehicle maker Beiqi Foton Motors, has bagged contracts for about 750 electric buses in the tenders that have been finalised so far, the persons cited earlier told ET, requesting not to be named.
The government is expected to issue an expression of interest next month under the ongoing second phase of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (Fame India), but it is likely to be open to only state utilities that have awarded tenders or are close to award tenders as per the scheme.
Ashok Leyland had recently unveiled a new modular platform for vehicle development at its product development centre near Chennai, a move it believes will set it apart in capitalising new demand for the vehicles.
The ABB technology called TOSA avoids the need to take the vehicle out of service for recharging every few hours or having a replacement bus ready, thus minimizing the size of the fleet while increasing passenger carrying capacity, an official statement said.
Under the strategic partnership, around 165 Greaves care centres will provide service support to TVS three-wheelers in the form of free services, warranty, post-warranty and other campaign-related repairs, the company said in a release.
Tata Motors has bagged a contract to Mangalore Refinery and Petrochemicals, have together spent about Rs 35,000 crore in upgrading their units for BS VI-compliant fuels, to meet the official target of supplying less polluting fuel across the country from April 1, 2020. Private refiners too have spent heavily on this.
The orders are from STUs of Rajasthan, Karnataka, Uttar Pradesh, Tamil Nadu and Andhra Pradesh, Tata Motors said in a statement.
Domestic tractor sales in Nov 2019, dropped to 7,379 units against 7,641 units a year-ago, the filing said. Exports for the month of Nov 2019, also declined to 263 units against 364 tractors in Nov 2018. Escorts Ltd has diversified business in three different segments comprising -- Escorts Agri Machinery, Escorts Construction Equipment and Railway Equipment Division, it added.
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