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TRUCKMAKERS NEWS * WORLDWIDE
* India - Daimler banks on exports to achieve break even
Oragadam,Chennai,India -Live Mint/THE WSJ, by Arundhati Ramanathan -Sep 27 2013: -- Daimler India Commercial Vehicles Pvt. Ltd is banking on exports to help it achieve operational break even within the next two years, managing director and chief executive, Marc Llistosella, said on Thursday... The German truck maker, which invested Rs.4,400 crore in putting up its plant in Oragadam, near Chennai, is working towards making India an export hub. Eighty-five percent of the components used in the vehicles it manufactures in the country are procured locally, making the process cost-effective... Llistosella, said Daimler will be exporting “significant” volumes from India by leveraging Mitsubishi Fuso Truck and Bus Corp.’s sales network in 179 countries... Daimler India began rolling out its trucks for export under the Fuso brand in May and aims to sell 1,000 trucks this year in 15 markets in Asia and Africa... Domestically, Daimler India has a market share of 4-5% and is the No.4 truck maker in India after Tata Motors Ltd, Ashok Leyland Ltd and Eicher Motors Ltd... In the April to August period, the overall sales of medium and heavy commercial vehicles in the country fell 24.6% to 69,799 units, said Surjit Arora, research analyst at brokerage Prabhudas Lilladher...
* Italy - CNH Industrial shares start trading in New York, Milan on Monday
Milan,Italy -Reuters, by Jennifer Clark / Jane Merriman -Sep 27, 2013: -- Italian truck and tractor maker Fiat Industrial said on Friday a merger with its U.S. tractor-maker CNH will take effect by Sunday and shares of the new company CNH Industrial will begin trading in Milan and New York on Monday... Fiat Industrial, like other big Italian companies, is looking to maximize sales overseas to make up for a weak domestic market. The merged company also aims to expand by introducing its truck brand Iveco to the United States... After the merger takes effect, CNH Industrial will move its corporate headquarters to the Netherlands... The new company will drop the word "Fiat" and its center of gravity will shift away from Italy, where Fiat was founded 114 years ago...
Labels: truckmakers news worldwide
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