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Aug 2, 2012

TRUCKMAKERS NEWS * WORDLWIDE

* Germany - MAN Freezes Hiring on Drop in European Truck Demand 

Munich,Germany -Bloomberg Businessweek, by Christian Wuestner -July 31, 2012: -- MAN SE, the German truckmaker controlled by Volkswagen AG, has put a halt on hiring to cut costs as the sovereign debt crisis saps commercial vehicle demand in Europe... MAN predicted that industrywide sales of trucks and buses in Europe will decline by 5 percent to 10 percent this year, the Munich-based company said today at a press conference. To adjust to lower demand, the manufacturer plans to reduce production in line with the market decline this year and will spread out spending on investments including projects in Brazil and Russia...


* India - Ashok Leyland expects to double exports in two years

Chennai,India -The WSJ/Livemint, by Arundhati Ramanathan/ -31 July 2012: -- Ashok Leyland Ltd, India’s No.2 truck maker, is hoping to offset the slowdown in the Indian market by doubling its annual exports to 25,000 units by 2014, a top executive said... The exports will include its successful 2011-launched pickup truck Dost, currently sold only in India... Three years ago, Ashok Leyland exported only 5,800 units, but after expanding in existing markets such as Sri Lanka and Bangladesh and adding new ones like West Asia, it has ramped up exports to 12,852 vehicles... Overseas revenue grew 25% or 15% of its total turnover, in fiscal 2012...

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