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TRUCKMAKERS' NEWS WORLDWIDE * Europe - Stimulus Isn't Enough
Brussels,Belgium -AP/Manufacturing.Net (Rockaway,NJ,USA) -December 10, 2008: -- European truck makers called on EU governments Wednesday to give them more money to survive the credit crunch... EU leaders start two days of talks on Thursday on a euro200 billion ($257 billion) plan to bolster growth as several European nations slide into recession... That includes euro4 billion ($5.1 billion) in loans for car makers to help them develop cleaner vehicles that release less greenhouse gas... But Andreas Renschler, the head of Daimler AG's truck division and the chairman of the EU commercial vehicle manufacturers' group, said that does not go far enough and additional measures were still needed to tackle the crisis and relieve the credit crisis...
* India - Auto makers may see significant decline in earnings
Mumbai,India -The Wall Street Journal/Livemint, by Samar Srivastava & Shally Seth -15 Jan 2009*: -- Indian auto makers, grappling with a prolonged and steep slowdown in sales, are likely to see a significant dip in earnings for the quarter ended 31 December, the third of fiscal 2009 for most companies... Some companies such as Hero Honda are expected to have already benefited from reduction in prices of raw materials such as copper and nickel that are traded in the spot market. Car and truck makers are likely to see their raw material bill drop significantly in the fourth quarter ending 31 March as steel prices have declined by 9%, according to an earnings preview report by Motilal Oswal... Companies may see margins improve in the fourth quarter once contracts for steel are renegotiated. Steel accounts for almost half of total costs and is supplied on fixed terms of three, six or 12 months... Car makers are also likely to be hit hard with tightening financing options and weak consumer sentiment is likely to see buyers putting off purchases. Maruti Suzuki India Ltd, which reported a 14% year-on-year decline in volumes, is expected to see a 4% decline in sales growth. Net profit is likely to fall by as much as 47%, according to the five analysts surveyed... Auto makers, optimistic of demand picking up in the next few quarters, say they plan to continue to launch models to stimulate demand. About 50 models are expected to be launched in 2009. Mahindra and Mahindra Ltd launched its new utility vehicle the Xylo on Tuesday while Fiat Automobiles India Pvt. Ltd launched its Linea on Wednesday...
* India - Truck sales show steep declines in April-December 2008
New Delhi,India -LogBizIndia -January 14, 2009: -- Rather drastic commercial vehicle sales numbers for April- December 2008, as per SIAM's latest data... Sales of Medium and Heavy Commercial trucks (MHCV) fell to 116, 835 units, down 27% over the same period last year, while light commercial vehicles ( which had remained fairly steady in the buffeting of recession and fuel prices), fell 5.6% to 125,973 units... Three wheeler goods vehicles are practically dead in the water with a 38% drop in sales to 63,150 units...
Labels: truckmakers news worldwide
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