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TRUCKMAKERS' NEWS WORLDWIDE * India - Tata Motors set for worst show since ’02
Sales are expected to shrink by nearly 45% to Rs5,161 crore from Rs9,238.48 crore
Mumbai/Pune/New Delhi,India -TWSJ/livemint (USA). by Shally Seth, Sudha Menon & Samar Srivastava -29 Jan 2009: -- As Tata Motors Ltd, the country’s biggest auto maker, prepares to report earnings on Friday, the market is bracing itself for some really bad news... In the last quarter, sales of the company’s mainstay—commercial vehicles (CVs) such as trucks, buses and goods vans—have fallen off a cliff and analysts expect a sharp dip in net profit for the three months to 31 December... Shares of the company, however, rose 4.5% to end Wednesday’s trading at Rs146.65 each after the UK government offered car makers loan guarantees to help them cope with the recession. Tata Motors makes the Jaguar cars and Land Rover utility vehicles after it acquired both brands last year... Other truck makers have seen demand hit too, but analysts and investors say Tata Motors is different due to its scale and the impact of the slowdown on it. It reported a net profit of Rs2,167.70 crore on revenue of Rs40,340.79 crore in fiscal 2008... (1 India - Rupia = 0.02024 US Dollar) * Germany - Stocks Rise... MAN AG sell 168 trucks for Saudi Arabia
Munich,Germany -Bloomberg, by Stefanie Haxel -Jan. 28, 2009: -- ... MAN AG climbed 9 percent to 33.70 euros, the steepest gain in two months. Almarai Co., the largest food producer in Saudi Arabia by market value, ordered 168 trucks from a unit of Europe’s third-largest truckmaker... * Japan - Hino Widens Loss Forecast as Stronger Yen Cripples Earnings
Tokyo,Japan -Bloomberg, by Makiko Kitamura -Jan. 28, 2009: -- Hino Motors Ltd., Japan’s biggest maker of heavy-duty trucks, widened its full-year loss forecast as the global recession cuts vehicle demand and a stronger yen reduces the value of overseas sales... The company will post a loss of 33 billion yen ($370 million), compared with a previous forecast of a 20 billion yen loss for the year ending in March, Hino said in a statement today... Hino last month said it will post its first full-year operating loss in nine years as the deepening global recession and a credit crunch saps demand. The truckmaker is half owned by Toyota Motor Corp. and builds the FJ Cruiser and 4Runner sport- utility vehicles for the larger carmaker... * Germany - Daimler, Beiqi Foton to Cooperate on Truckmaking in China
Stuttgart,Germany -Bloomberg, by Tom Lavell -Jan. 29, 2009: -- Daimler AG said it signed a joint-venture agreement with Beiqi Foton Motor Co. to build medium- and heavy-duty trucks... The companies will cooperate on diesel systems for vehicles based on Foton’s Auman model, Stuttgart, Germany-based Daimler said in an e-mailed statement...
Labels: truckmakers' news worldwide
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