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Oct 3, 2012

TRUCKS MARKETS * WORLDWIDE

* Europe - Falling market may lead to less production

La-Défense Cedex,Paris,France -Fleet Europe, by Tim Harrup -26 Sept 2012: -- A survey by international credit insurance company Euler Hermes suggests that the overall European new car market will shrink by 6% this year, and by around half of this figure again in 2013. The survey findings, reveal that the European market is somewhat isolated compared to other parts of the world which are seeing growth. The United States are set to record growth of 12% this year, and amongst emerging markets, China, Brazil and India are seeing growth of 5% or more. Russia should record an increase of 11% compared to last year... As a result of the situation in Europe, car production is also very substantially down over recent years (-38% in Italy, -24% in France, -16% in the UK – all since 2007), but Euler Hermes says that car manufacturers will have to once again adjust their production levels. Operating margins are also a problem for the French manufacturers, hovering around 1%, while their German colleagues can still count on a much healthier figure of around 8%, a situation reflected in the fact that German car production has slightly increased since 2007...


* Japan - Manufacturers count cost of high yen 

Tokyo,Japan -Money Control -Oct 01, 2012: -- For 50 years, UD Trucks, formerly named Nissan Diesel, has been producing vehicles at its Ageo plant outside Tokyo, relying on Japan's reputation for quality and safety to sell to hauliers in South Africa, Indonesia, Australia and Thailand... But only rarely has making money seemed as difficult as it does today... It is the kind of lament you hear a lot from Japanese exporters. With the yen still near the record high against the US dollar it hit almost a year ago, many are finding it difficult to compete against cheaper Asian rivals, especially as China's economy slows and Europe's languishes... UD Trucks, it relies on sales to overseas customers for about two-thirds of its total...

* India - US foray in mind, Ashok Leyland plans JV for Czech arm

(Photo from BCCL: Ashok Leyland plans to enter the US truck market through its European subsidiary Avia and is currently scouting for a local partner there) 
Mumbai,India -The Economic Times, by KETAN THAKKAR -3 Oct, 2012: -- Ashok Leyland plans to enter the US truck market through its European subsidiary Avia and is currently scouting for a local partner there... The company is open for joint venture, contract manufacturing or even a distribution tie-up in the US, top officials said...   Avia, which makes light duty trucks in the range of 9-12 tonnes, is now working on 15-tonne and 18-tonne trucks in coordination with Ashok Leyland's R and D centre in South India...


* India - Truck stocks firm despite sales dip. Shares of Tata Motors and Ashok Leyland have risen 15% in the past one month 

(Photo: Tata Motors’ volumes are up 4% compared with the preceding month) 
Mumbai,India -The WSJ, Live Mint by Vatsala Kamat -Oct 2, 2012: --  Truck and bus makers saw volatility in September, with mixed signals from different segments. Sales of heavy and medium lorries continued to slide compared with a year ago...   Tata Motors Ltd sold 15,287 of them in September, 16% lower than a year ago. Ashok Leyland Ltd, which often shows a divergent trend due to its stronger presence in southern India, toed the line and sold 12% less vehicles at 7,596. On a month-on-month basis, however, sales have picked up. Tata Motors’ volumes are up 4% compared with the preceding month, while Ashok Leyland’s volumes are up 15%... A point of concern is the 10-12% knee-jerk increase in freight rates following the diesel price hike. This may impact truck sales adversely. A report released on Tuesday by the Indian Foundation of Transport Research and Training says that after some volatility through the month, truck rents in the last week of September settled only 5-6% higher than the previous month...

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