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Bharat Benz spurs Indian truckmakers into action
Posted on 21 Jun 20124,434 Views0 Comments
Bharat Benz's massive investment plan for setting up a wide product range backed by a strong service network is a cause for worry for the completion.
Indian truckmakers are gearing up for a major assault to protect market share and take on the challenge posed by the impending entry of Bharat Benz.
Leading truckmakers are investing close to a billion dollars in 100 new products including variants in the next 12-18 months. Also on anvil is a spurt of commercials, with Ashok Leyland hiring Mahendra Singh Dhoni as brand ambassador and Tata Motors Prima co-sponsoring a wrestling series - Ring ka King, in a general entertainment channel.
The spurt in investment by truck makers is at a time when the economy is showing signs of a slowdown. Typically when there is a slowdown, it is the CV industry that feels the impact before others, but the derring-do by Indian truck makers is primarily triggered by the much-heralded entry of Daimler's Bharat Benz range of trucks, say experts. However, industry players attribute it to increasing acceptability among the truck users towards more modern trucks which offers better turn around time and not Bharat Benz's entry alone.
ET has learnt that Tata Motors will invest Rs 1,500-2,000 crore, Ashok Leyland Rs 800 crore, VE Commercial Vehicle Rs 800-1,000 crore, AMW Trucks Rs 300-500 crore, Mahindra Navistar Rs 100-250 crore and all the investments will go into new modern trucks and R&D in the next 12-18 months.
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