Demand for tractors has outstripped supply, as output has fallen with factories operating at a quarter of their capacity due to the lockdown regulations.
Demand for tractors is rising as fertiliser sales and foodgrain production hit record highs, reservoirs hold more water than 10-year average and a normal monsoon is forecast.
The company said it was able to restart operations at the plant in less than 24 hours after receiving permission from local authorities as it had started intensive preparation even before the lockdown in India came into effect in March, DICV said in a statement.
Commercial vehicle major Ashok Leyland on Tuesday said it sold no units last month amid the nationwide lockdown. The company had sold a total of 13,626 units in the domestic and export markets in April 2019, Ashok Leyland said in a statement.
The company had sold a total of 28,552 units in the same month last year, M&M said in a statement.
The government had relaxed guidelines for extended lockdown and allowed industrial units in rural areas or outside municipal limits to resume partial operations under strict safety and hygiene conditions from April 20.
As part of the service extensions for the commercial vehicle customers, Tata Motors said it is providing two-month extension for free services previously scheduled during the lockdown period. Moreover, the company has also extended 'Tata Suraksha' annual maintenance contract for all those with an expiry during the period of lockdown.
New Delhi, Apr 1 () VE Commercial Vehicles (VECV) on Wednesday reported an 82.7 per cent decline in sales at 1,499 units in March as compared to 8,676 units in the same month last year.
The sector, which hardly depends on imports from China as localisation levels of critical parts such as sheet metal, engines and transmission gear are close to 95%, seems to have, for a start, escaped the debilitating effect of the Covid-19 pandemic.
Under the project, the company is offering complete transport solution, including twenty air-conditioned electric buses of nine meters each in phase I. Apart from deployment of electric buses, NTPC and Andaman administration are collaborating for setting up public charging infrastructure in the Island. Electric buses are all set to start running on a commercial basis by August 2020.
VE Commercial Vehicles, a joint venture between Eicher Motors and Swedish truck maker Volvo, has decided to go ahead with its plan of setting up a new 40,000-units-a-year factory in Bhopal even as the Indian commercial vehicle market stares at its steepest decline in growth in a decade.
“Dealers are defensive, financers are defensive and so are automakers. As a result, there has been hardly any pre-buy. We expect the same to continue in March. Hence, the demand should be much better in the next financial year than expected earlier,” Vinod Aggarwal, managing director said.
Tractor major Mahindra & Mahindra has posted a 21 per cent growth in domestic sales in February 2020 at 21,877 units, as against 18,105 units during the previous corresponding period.
Daimler India Commercial Vehicles (DICV), the maker of Bharat Benz trucks, expects January-March quarter (Q1) to be positive after decline of multiple quarters, and is hoping for sops in the upcoming budget to drive consumption and cushion the decline that is expected post price increase of almost 10-15% in Q2 and Q3 of 2020 due to the implementation of BS-VI norms-compliant technology.
The company also said that though the January-March quarter of the 2020 is expected to do a little bit better for the segment, the market may be on a lower trajectory once the BSVI norms come into effect from April 1.
Haryana-based PMI Electro Mobility Solutions, which has a technical tie-up with Chinese commercial vehicle maker Beiqi Foton Motors, has bagged contracts for about 750 electric buses in the tenders that have been finalised so far, the persons cited earlier told ET, requesting not to be named.
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