Volvo Eicher Trucks

Japan-based brokerage Nomura has upgraded Eicher Motors to a 'Neutral' rating from 'Reduce' and raised its target price from Rs 4,102 to Rs 4,391

Volvo said profit margins were squeezed by lower sales volumes and increased investment in research and development

H2FY25 expected to see demand revival as monsoons end; H1 affected by elections

Luxury carmaker Volvo Car India on Tuesday said it will "minutely" examine the C40 Recharge electric SUV which caught fire in Chhattisgarh last week. While confirming the incident, the company said technical experts will try to ascertain the cause of the fire in the car while being driven. "At Volvo Cars we pride ourselves on the safety of our cars and have taken this incident very seriously. The said vehicle will be minutely examined by our technical experts to ascertain the cause," the automaker said in a statement. The company is in touch with and continues to support the customer, it added. The Swedish carmaker noted that the embedded safety features informed the driver to take the car aside and step out of the car. There were no injuries and all occupants were safe, it added. The price of C40 Recharge starts from Rs 62.95 lakh (ex-showroom).

Ashok Leyland Limited (ALL) recorded a 64 per cent year-on-year increase in sales of medium and heavy commercial vehicle (MHCV) buses during the April-to-December period of 2023 to 11,216 units

The company also expressed its commitment to aggressively target markets such as West Asia, South East Asia, and Africa for future export growth

VE Commercial Vehicles Ltd on Monday reported a 6.5 per cent growth in sales at 6,715 units in June 2023. The company, a joint venture between the Volvo Group and Eicher Motors, had sold 6,307 units in June 2022, VE Commercial Vehicles (VECV) said in a statement. Eicher branded trucks and buses recorded sales of 6,527 units last month as against 6,185 units in June 2022, a growth of 5.5 per cent, it added. In the domestic market, sales of Eicher branded trucks and buses grew by 12.4 per cent to 6,277 units as compared with 5,584 units in the corresponding month last year. Exports of Eicher branded commercial vehicles were at 250 units last month, down from 601 units in the year-ago period. Volvo trucks and buses recorded sales of 188 units in June 2023 over 122 units in June 2022, representing a growth of 54.1 per cent, the company said.

Auto industry has 'mostly overcome' semiconductor issue, says leader of Volvo Eicher Commercial Vehicles

Aims to disrupt intercity segment with fully-built luxury coaches

Margin pressures may continue on competitive pressures, input cost inflation

In addition to volume growth, margin gains hinge on raw material/freight cost movement

The high acquisition cost may still be a dampener for the financially beleaguered STUs

Balance-sheet squeeze makes purchase of trucks impractical, they say

Eicher's commercial vehicle (CV) sales dropped by 81 per cent to 1,409 units during the month from 7,329 units, a year ago

Automakers in India import about 10% of their raw materials from China

The company, which is a Volvo Group and Eicher Motors joint venture, said Eicher branded trucks and buses recorded a total sales 4,910 units last month as compared to 6,113 units in December 2018

The Volvo-Eicher Motors JV plans to invest Rs 650-700 cr on BS VI rollout, apart from a greenfield venture in Bhopal

'The Madhya Pradesh government has allotted land for the new plant and work to set up this plant is expected to start soon'