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Jun 30, 2012

TRUCKS MARKETS * WORLDWIDE

* India - And now, production cuts for trucks and component makers 

Mumbai,India -The WSJ (USA) / Livemint, by Vatsala Kamat -Jun 28 2012: -- With growth drivers for trucks such as infrastructure, mining and construction being stymied in the previous fiscal year, the impact on demand for commercial vehicles was expected... From slowing truck sales a few months ago, it’s now production cuts, signalling the deepening gloom in this automotive segment. The country’s largest truck maker Tata Motors Ltd said it will suspend production of truck and truck parts at its Jamshedpur plant in the last three days of June. This is to align inventory levels to demand...  Signs of weakening sales growth in trucks were visible towards the end of fiscal 2012 (FY12). Truck sales in March grew a measly 1.4%, followed by a contraction in sales by about 11% each in April and May compared with the year-ago period. This was after a massive 17-18% rise in sales in the full year ended March...


* Brazil - Vehicle sales in Brazil: a bump in the road 

(Photo:  2012 Volkswagen Kombi production line in SP factory Brazil)  
Sao Paulo,SP,Brazil -Automotive World (UK)/CARCON Automotive, by Julian Semple -June 29, 2012: -- The market for cars and light commercial vehicles in Brazil expanded 2.9% in 2011, with sales of 3.42 million vehicles. By contrast, the first five months of 2012 showed a year-on-year contraction of 4.3% compared to the same period last year... Brazil's 2012 GDP forecast has been lowered from a 4% growth estimate made by analysts earlier this year to 2.5-3% recently. This slower growth projection, in part caused by a slower global economy and the additional increase in vehicle credit default and lower credit availability, has contributed to lower vehicle sales in Brazil this year. The Brazilian government took actions last month to lower by 3-7% the IPI (Industrial Products) tax depending on engine size; manufacturers agreed in turn to lower their prices to between 1 and 2.5%, in addition to banks expanding credit availability and longer payment terms. These actions reduced entry-level car prices by about 10% and high-end vehicles by a few percent points too. However, most high-end imported vehicles did not see this price reduction, due to the 10% currency devaluation Brazil has witnessed this year... The main reason for the contraction of HCV sales was legislation requiring the switch from Euro III to Euro V on 1 January 2012...

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