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- Apr 25, 2024
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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.
Speaking on the sidelines of HR Conclave last week, Ravi Pisharody, president, commercial vehicle unit, Tata Motors said: "We would be investing about Rs 1,500-2,000 crore this fiscal in our entire range right from Prima to sub-one tonner." Tata Motors, India's largest truckmaker in terms of market share, would be introducing new products under the Prima range and bring in Prima equivalent 'Ultra' range in the light and intermediate truck category (7-9 tonne) while Ashok Leyland (ALL), India's second largest truck maker by market share will bring in its international Avia range of trucks in the same segment. The U Truck range from ALL is also likely to be powered by new series of Neptune engines.
Mahindra Navistar will be launching specialised applications for coal, cement & food processing industry and AMW Trucks, a minnow in the market, has new premium range of trucks with new cabs on the anvil which was showcased at the Auto Expo. VE Commercial Vehicle too plans to revamp its entire range.
"We take competition very seriously, so they (Bharat Benz) would be just like any other competitor. But it is not the competition alone which drives our plan. With the improvement in infrastructure and roads, there is a need for new range of trucks and we would be launching our next generation trucks which will see new drivelines, new engines and new cabs," said Vinod Agrawal, CEO, VE Commercial Vehicles Limited. And it is not products alone, expansion and penetration of touch points is also keeping pace. For instance, ALL, which is considered as a south-centric player has expanded reach in northern and eastern part of the country over the last year or so.
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