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TRUCKMAKERS' NEWS WORLDWIDE * India - Tata Motors skids as Chinese truck makers plan India foray
The Indian heavy truck market grew 65% bypassing China's 40% growth of last year
Mumbai,India -IIFL -Feb 24, 2011: -- Tata Motors slumped 7.54% at Rs. 1,058.25 on BSE on fears of increased competition as Chinese truck manufacturers plan to start operations in India, buoyed by rising opportunities in the world's fast growing truck market... According to reports, China's third largest truck maker, Sinotruk has shown interest in setting up a manufacturing unit in India in order to enter the Indian auto industry. Mr Shen Xiangke, Sinotruk's spokesman was quoted by media as saying that the company is hoping for an India partner to introduce its products into local market. The company's India strategy is to establish a local assembly facility, which invites lower taxes in order to tap the buoyant local market that is ideal for its range of big trucks... Sinotruk is a Chinese, state owned enterprise which was launched in 1935. It is also known as China Heavy duty Truck Group...
* India - Chinese truck makers plan to drive into
New Delhi,India -The Economic Times, by Chanchal Pal Chauhan -24 Feb, 2011: -- Chinese truck manufacturers plan to start operations in India, buoyed by rising opportunities in the world's fast growing truck market... Beiqi Foton Motor, the largest Chinese truck maker by volume, is close to finalising locations for its Indian subsidiary. Shandong Shifeng, a specialised manufacturer of agricultural light trucks, has already started making such vehicles with Kolkata-based Hindustan Motors... Backed by strong demand from housing and infrastructure sectors, sales of trucks have shown significant surge in recent years. This is expected to bolster sale of heavy truck in India to over 5-lakh units by 2013-14, analysts said... Consistent demand for new trucks and improvement in the domestic freight market have resulted in the entry of some European and American truck makers in the past five years. World's largest truck company, Daimler AG launched a dedicated brand 'BharatBenz' for India... In the past, couples of joint ventures were announced where Force Motors of Pune started a joint-venture with MAN AG of Germany to make big trucks in the 25 tonnes and above range. Utility vehicle maker Mahindra & Mahindra had also inked a similar venture with American firm Navistar...
* France - Renault Trucks improves its Optifuel offering
* Russia - Volkswagen, Ford Rush to Seal Russian Deals Before Tax-Incentive Deadline
Moscow,Russia -Bloomberg, by Yuliya Fedorinova -Feb 28, 2011: -- Russia’s government closes the door today to new tax incentives aimed at attracting investments by foreign automakers in a country where car sales may overtake Germany’s within four years ... The new rules will also help boost component manufacturing in Russia. Magneti Marelli’s Automotive Lighting, owned by Fiat, has made eight applications to produce parts locally, while truckmaker Volvo AB has submitted requests for 22 components, Rakhmanov said...
Labels: truckmakers news worldwide
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