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TRUCKMAKERS' NEWS * WORLDWIDE
* Japan - Hino Falls After Truckmaker Cuts Full-Year Forecast
Tokyo,Japan -Bloomberg, by Makiko Kitamura -Oct. 30, 2008: -- Hino Motors Ltd., Japan's biggest maker of heavy-duty trucks, fell in Tokyo after the company cut its full-year profit forecast on lower sales to Toyota Motor Corp. and declining domestic demand... Hino is cutting production as tighter credit and falling home values damp vehicle demand in North America... The truckmaker's sales in Japan have fallen 11 percent so far this year through September... (Photographer: Toshiyuki Aizawa/Bloomberg News - A Hino Motors Ltd. truck is reflected on another at the company's manufacturing headquarters in the suburbs of Tokyo, Sept. 12, 2007) * Japan - Isuzu Cuts Earnings Forecast on Slowing Sales
Tokyo,Japan -Bloomberg, by Makiko Kitamura -Nov. 5, 2008: -- Isuzu Motors Ltd., Japan's largest maker of light-duty trucks, cut its full-year profit forecast as sales slow in Thailand and a stronger yen reduces overseas earnings... Isuzu's truck sales in Thailand, its biggest overseas market, have dropped for four straight months through September as rising economic concerns damp demand. Steel prices, which reached a record in mid-July, and a stronger yen are also eroding the value of the truckmaker's overseas sales... President Susumu Hosoi denied reports that Isuzu is in talks with General Motors Corp. to buy the U.S. company's commercial truck operations... GM and Isuzu have a diesel-engine joint venture, DMAX Ltd., in the U.S.... The two companies have kept business ties including jointly operating diesel-engine factories in the U.S. and Poland after dissolving a 35-year equity alliance in 2006... (Photographer: Tomohiro Ohsumi/Bloomberg News - Isuzu Motor Ltd. trucks bound for export wait in a lot in Yokohama City, Japan, April 28, 2008)* India - Truckmakers suspend output
Mumbai,India -The Financial Times (UK), by Joe Leahy -November 10 2008: -- India's truck manufacturers are being forced to suspend production owing to falling demand, in the clearest sign yet that the global financial crisis has begun to strike at the heart of Asia's third- largest economy... Tata Motors, the largest producer of commercial vehicles, last week shut a key plant for three days and warned that it would suspend production at two more facilities this month... Rival Ashok Leyland is also cutting production to three days a week for the next month... Indian medium and heavy commercial vehicle sales slumped in October, with Ashok Leyland and Tata reporting a decline of about 50 per cent for the month compared with a year ago... Even sales of Tata Motors' best-selling light commercial vehicles, favoured by small businessmen and farmers, declined by 10 per cent in October, having grown by 19.4 per cent in the third quarter...
* Germany - Daimler Postpones $2 Billion KamAZ Purchase
Stuttgart,Germany -Handelsblatt/Bloomberg, by Sheenagh Matthews -Nov. 10, 2008: -- Daimler AG may postpone until next year the planned purchase of a stake in Russian truckmaker OAO KamAZ, Handelsblatt said, citing Andrej Scharonow, head of the carmaker's adviser, Russian bank Troika Dialog... Upheaval in the financial markets and a slump in vehicle markets have led the German truckmaker to put off the purchase of the 42 percent share, the newspaper said, citing an unidentified person familiar with the situation... Daimler, based in Stuttgart, Germany, is expected to finish examining KamAZ's books in the next few days, Handelsblatt said. The price was estimated at more than $2 billion, the newspaper said, citing an unidentified person close to KamAZ...
Labels: truckmakers' news worldwide
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