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TRUCKMAKERS' NEWS * WORLDWIDE
COMMENT * USA - Navistar, Mahindra and GM...
London,UK -The World Trucks Blog , by Oliver Dixon-26 Aug 2008: -- Could it be that Mahindra - which, along with its partner Navistar (Mahindra International) may just be playing a waiting game here? Navistar had been rather keen to buy GM's MD business. And then it wasn't. GM, which also seemed rather keen to sell its MD business - to Navistar - needs, according to the WSJ, to raise $6.6 billion by the beginning of 2009. By 'needs', we don't mean that it would like to raise $6.6 billion. We mean that it is a commercial necessity; fail to come up with the cash, and presumably taciturn individuals will be turning up and repo-ing the photocopier. GM needs to sell some stuff. In other words, this is a buyer's market... But one that could give rise to a rather pleasing situation, as there seems to be a rather elegant synergy developing here. GM gets rid of Hummer and its MD business, and is therefore able to work with the lights on in Detroit come next January. Navistar and Mahindra add Hummer to Navistar's existing military business, continue to build Kodiak and the like, and then, just for larks, sneak a cheap, cheerful and, naturally, exhaustively road tested Indian-designed commodity pick up in at the bottom of the range... Of course, such a scenario demands a considerable degree of trust and partnership between the two principles: Navistar and Mahindra. Could this come about on a handshake, or would a more formal equity relationship be the appropriate way forward?... (Photo: Mahindra pickup* Sweden - Volvo truck shipments rise as Asia gives boost
Stockholm,Sweden -Forbes/Reuters, by Niklas Pollard; editing by Sue Thomas -Aug 27, 2008: -- World number two truck maker Volvo said on Wednesday deliveries of its trucks rose 2 percent year-on-year in July as strength in Asia offset weakness on both sides of the Atlantic... The group, which sells trucks under the Renault, Nissan Diesel and Mack brands as well as its own name, said in a statement deliveries in its biggest market, Europe, fell 5 percent and were down 2 percent in North America... But in Asia, currently the firm's second-biggest market following the acquisition last year of Nissan Diesel, deliveries rose 16 percent from a year ago, Volvo said... In total, Volvo delivered 19,243 trucks in July...
* USA - PACCAR reports its Q3 figures on the 20th October
Bellevue,Wash.,USA -The World Truck Blog -25 Aug 2008: -- Will it meet its targets? We've heard much about how overseas markets are shoring up the lacklustre performance of both Kenworth and Peterbilt in the very lacklustre North American market... But, the European market is slowing to a fast halt, and here's news that Australia, one of Kenworth's key other markets is also slowing hard; according to this report, its Australian plant will slash output from 23 trucks per day to just eight, and will get rid of almost ten per cent of the workforce for good measure... All of this has to be analysed alongside DAF's claim that it will boost European output by five per cent after September. It'll be interesting to see if this announcement stands the test of time, or whether DAF's plans may be quietly shelved...
Labels: truckmakers' news worldwide
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