LCV & HCV
Ashok Leyland sales up 8% in July
The company had sold a total of 13,928 units in July 2024, the Chennai-based firm said in a statement.
Tata Motors seeks to expand revenues, access new technologies with $4.5 bn Iveco deal
Tata Motors plans to acquire Iveco's truck and bus division for $4.5 billion. This deal will significantly expand Tata Motors' global presence. It will also provide access to advanced technologies like electrification. The acquisition aims to strengthen Tata's position in Europe and India. The deal is expected to be completed by April 2026.
Tata Motors' Iveco takeover to fuel global CV ambitions but not without risks
Tata Motors offer is aimed at acquiring 100% of Iveco's common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania.
Tata revs up the global game. How Iveco fits in
Tata Group is eyeing another global expansion. Tata Motors is preparing to acquire Iveco from the Agnelli family for $4.5 billion. This deal will be the second-largest acquisition for Tata Group after Corus. Tata aims to be a globally competitive enterprise. The acquisition will give Tata access to the European truck and bus market.
Proposal to drive LCVs into CAFE
The Bureau of Energy Efficiency has proposed stricter fuel efficiency norms for small commercial vehicles, including those running on petrol and CNG, with a maximum weight of 3.5 tonnes. This move aims to regulate light commercial vehicles, which are currently unregulated, alongside medium and heavy-duty vehicles, expanding the scope of fuel efficiency standards beyond passenger cars.
Tractor dispatches to see 4-7% growth in FY26
Tractor dispatches from companies to dealers in India are projected to experience moderate growth of 4-7% in FY2026, according to Icra. This growth is expected to be fueled by favorable monsoon conditions, which will likely enhance agricultural output in key regions.
Ashok Leyland looks at proactive approach to navigate emerging industry trends: Chairman Hinduja
Ashok Leyland is proactively addressing electrification, supply chain issues, and digitalization to become a top global commercial vehicle manufacturer. The company will invest in R&D for alternative fuel vehicles, form strategic alliances, and expand its presence in the Middle East, Africa, and ASEAN regions. They aim to provide innovative and sustainable mobility solutions.
Tata Motors, other truck and bus makers urge govt to exempt small commercial vehicles from CAFE 3 norms
Indian truck and bus manufacturers are appealing to the government to exempt small commercial vehicles (SCVs) under 3.5 tonnes from stricter Corporate Average Fuel Efficiency (CAFE) norms. They cite affordability issues for owner-operators and small businesses, highlighting that most SCV owners rely on these vehicles for their livelihoods.
TAFE targets 200,000 tractor sales in FY26
Tractors and Farm Equipment Limited aims to sell over 200,000 tractors in fiscal year 2026. This is up from approximately 175,000 units in fiscal year 2025. TAFE expects to grow faster than the industry average. New product launches and expanded manufacturing will support this growth. TAFE also secured exclusive brand ownership of Massey Ferguson in India.
Daimler India rolls out BharatBenz range for mining, construction
Daimler India Commercial Vehicles has introduced its new BharatBenz 'HX' and 'TorqShift' series trucks, targeting the growing construction and mining sectors. The launch follows successful trials of nearly 200 trucks across various sites in India over six months. This move aligns with projections indicating substantial growth in the domestic mining and construction equipment sector by 2030.
TAFE, AGCO settle legal dispute over Massey Ferguson brand in India
TAFE and AGCO Corporation have resolved their year-long legal dispute over the Massey Ferguson brand in India. TAFE will acquire full ownership of the brand in India, Nepal, and Bhutan, repurchasing AGCO's 20.7% stake for $260 million. While AGCO exits its equity holding in TAFE, TAFE will retain a 16.3% stake in AGCO and support its board recommendations.
Commercial vehicle industry likely to see 3-5 pc growth in wholesale volumes this fiscal: Icra
The Indian commercial vehicle sector anticipates growth. Icra projects a 3-5% increase in wholesale volumes this fiscal year. This follows a slight dip in FY25. Construction and a stable economy will drive demand. The bus segment is expected to grow significantly. Light and heavy commercial vehicles will see modest gains. Pre-owned vehicles are impacting light commercial vehicle sales.
Escorts Kubota aims for No. 2 spot in Indian tractor market with new product launches
Escorts Kubota Ltd aims to become the number two player in the Indian tractor market by leveraging Kubota's technology and quality with Escorts' cost competitiveness. The company plans to launch new products for domestic and international markets, targeting different applications, including construction. EKL seeks to enhance its market presence and increase exports through Kubota's global network.
Expect M&HCV industry to grow in single digit in FY26: Ashok Leyland
Ashok Leyland anticipates single-digit growth in India's medium and heavy commercial vehicle segment this fiscal year, rebounding from a 3% decline in FY25. The company aims to outperform the industry average by expanding its presence in North India, the largest market for commercial vehicles.
Tractor sales in India likely to see 4-7% growth in FY26: ICRA
Tractor sales in Bharat are expected to grow moderately in 2025-26. ICRA forecasts a 4-7 percent increase due to a favorable monsoon. This will support agricultural production. Pre-buying before new emission norms in April 2026 may boost sales. Wholesale volumes grew by 7 percent in FY25. Positive farm sentiments and timely monsoon arrival are supporting demand.
CCI okays Mahindra's proposal to acquire 59 pc stake in SML Isuzu for Rs 555 crore
The Competition Commission of India (CCI) has approved Mahindra & Mahindra's acquisition of a nearly 59% stake in commercial vehicle maker SML Isuzu for Rs 555 crore. Mahindra & Mahindra will acquire stakes from Sumitomo Corporation and Isuzu Motors, followed by an open offer. This acquisition aligns with Mahindra's strategy to invest in high-growth potential areas.
