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Ticker Tape May 2024

Ticker Tape – Equipment May 2024

Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer today, inaugurated three new MHCV dealership outlets in NCR region of new dealer – TVS Trucks & Buses. Out of the three dealerships, two are in Faridabad and the other is in Greater Noida.

The first advanced 3S dealership, is strategically located at Khasra 9/1, Dundsa More, near Gadpuri Toll Plaza, Faridabad, spans 40,337 square feet and features five service bays. The second dealership in Faridabad, is situated at Khasra 15/1, covers 107,347 square feet and includes 12 service bays and 07 accident bays. Both newly launched dealerships are strategically positioned on NH19, which connects Delhi to Haryana, Uttar Pradesh, Bihar, Jharkhand, and West Bengal.

The third state-of-the-art 3S dealership in Greater Noida is situated at Gautam Budh Nagar, Greater Noida, Uttar Pradesh, covering 75,423 square feet and featuring 12 service bays and 06 accident bays. Its proximity to the Eastern Peripheral Expressway and Yamuna Expressway ensures easy access for traffic moving to the eastern, southern, and western regions of the country.

The dealerships will cater to M&HCV vehicles, and are equipped with modern tools and equipment, wheel alignment machines, 24×7 brake-down assistance backed up with Mobile Service Vans, rest area for drivers, and BS6-trained technicians. The newly launched dealerships will play an important role for Ashok Leyland to increase its footprint in the northern region.

Sanjeev Kumar, President – MHCV, Ashok Leyland, said, “We are excited to further strengthen our presence in Northern India. This region has always been an important market for Ashok Leyland. We have been working on creating a strong foothold in the region, and these new dealerships will bolster our presence in this geography. Our partner TVS Trucks & Buses Pvt LTD, with a strong presence in the territory, will ensure we grow our family of customers while helping them serve better. We want to contribute significantly to the larger ecosystem in this area with our mobility solutions. The new dealerships are being opened to further strengthen our reach and will take us one step closer to achieving our vision of being one of the Top 10 CV makers in the world.” 

Madhu Raghunath, Director, TVS Trucks & Buses Pvt Ltd said, “We are thrilled to strengthen our partnership with Ashok Leyland further and expand in Faridabad and Greater Noida. The new dealerships will assist the brand in establishing itself as a powerful force in the region. Ashok Leyland has been a promising and preferred brand in Northern India due to its reliability, ruggedness, and better total cost of ownership. With this partnership, we hope to take it a step ahead, reach more customers, and provide end-to-end mobility solutions for their transportation needs.”

Ashok Leyland has one of the largest and fastest-growing networks in the commercial vehicle industry, and the company is expanding its brand presence through a robust network of dealerships and service centres to provide best-in-class after-sales support to its customers. The company will cover the major transport hub offering Haulage, Tractor trailers, ICV Goods, Tippers, Fully Built RMC, Haulage, and School/Staff Buses through these dealerships.

India’s construction equipment industry witnessed a 26 per cent rise in sales to 1,35,650 units in the 2023-24 fiscal on the back of the government’s infrastructure-led growth agenda, a report said on Monday. As per the data released by the Indian Construction Equipment Manufacturers’ Association (ICEMA), the construction equipment (CE) industry had sold 1,07,779 units in the previous fiscal year. “With total equipment sales crossing 1,35,650 units as against 1,07,779 lakh units in FY23, the Indian Construction Equipment industry has recorded a 26 per cent increase in overall sales volume for the financial year 2023-24, surpassing all projections,” it said. The statement further said the government’s infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments. “The industry’s excellent annual performance has been a result of significant increase in demand for construction equipment observed in both domestic as well as exports markets, by 24 per cent and 49 per cent, respectively,” it added.

The statement said the total sales of earthmoving equipment — the largest equipment segment of the CE industry — increased to 93,531 units in FY24, which is 21 per higher than 77,164 units sold in FY23, accounting for approximately 70 per cent of the total construction equipment sales in FY24. Of this segment, the lion’s share was accounted for 55 per cent and 35 per cent respective growth in sales of backhoe loaders and crawler excavators, which together make up 90 per cent of the total earthmoving equipment sales. Material handling equipment, including pick & carry cranes and telehandlers, recorded 61 per cent growth in sales volume in FY24, and accounted for 14 per cent of total CE sales, as compared to 9 per cent in FY23. Concrete equipment such as concrete mixers, batching plants, concrete pumps, and boom pumps together recorded a 19 per cent year-on-year increase in FY24. As per the statement, road construction equipment, which was the only segment with negative growth in FY23, made a spectacular recovery in FY24 by selling 6,571 equipment units — a 40 per cent increase from 4,828 units sold in FY23. ICEMA (Indian Construction Equipment Manufacturers Association) is the nodal body representing the Construction Equipment industry (OEMs, suppliers and FIs) in the country and is affiliated to Confederation of Indian Industry (CII).

Tata Motors, India’s largest commercial vehicle manufacturer, announced a significant milestone of its 9,00,000th vehicle rollout from its state-of-the-art Lucknow facility. The celebration included a flag-off ceremony in the presence of Durga Shanker Mishra, Chief Secretary, Government of Uttar Pradesh, and senior delegates from Tata Motors, at the facility.

Spread across 600 acres, the Lucknow facility stands as a testament to Tata Motors’ commitment to sustainable manufacturing practices, with it being recognized as a water-positive plant by the Confederation of Indian Industry (CII). The facility houses a 6MW solar power plant, significantly reducing its carbon footprint. The facility augments ultra-modern vehicle manufacturing stations such as robotic paint booth and body-in-white shop featuring robotic spot welding, amongst other highlights. Since its inception in 1992, the facility has rolled out cargo and passenger commercial vehicles including light, intermediate, medium and heavy commercial vehicles, as well as electric and fuel cell electric buses.

Speaking at the 9,00,000th vehicle rollout from Tata Motors’ Lucknow facility, Durga Shanker Mishra, Chief Secretary, Government of Uttar Pradesh said, “I commend Tata Motors for reaching this significant milestone. This achievement underscores Tata Motors’ pivotal role in providing advanced, safer, and greener mobility solutions to address both present and future requirements. Furthermore, the company’s commitment to women’s empowerment, exemplified by over 22% women representation among new hires this year, marks a significant step forward for women in the manufacturing sector.”

Reflecting on this achievement, Vishal Badshah, Vice President and Head – Operations, Tata Motors Commercial Vehicles, remarked, “The rollout of our 9,00,000th vehicle from the Lucknow facility is a momentous occasion for Tata Motors. This facility has been pivotal in the manufacturing of our advanced electric buses, and has successfully delivered over 1200 units, which have cumulatively clocked lakhs of kilometres across the country. Uttar Pradesh has been one of our key markets and the Government of Uttar Pradesh’s impetus on infrastructure development has been a key enabler in boosting the sales of commercial vehicles. With our focus on Industry 4.0 integration, this facility has been delivering safe, smart and green mobility solutions to our customers. We extend our gratitude to our customers, partners and all colleagues and as we celebrate this milestone.”

Speaking at the occasion, Mahesh Suguru, Plant Head – Lucknow, Tata Motors Commercial Vehicles, added, “The achievement of our 9,00,000th vehicle rollout from the Lucknow facility is a testament of our commitment to excellence and innovation. Through the integration of cutting-edge technologies, we have optimised our operations, streamlined workflows, and elevated our standards of production to deliver superior vehicles that exceed customer expectations.”

Tata Motors is setting a benchmark in gender inclusivity and women empowerment at its Lucknow facility. Presently, women constitute one-third of the technical workforce, actively participating in all operational shifts and demonstrating a wide array of skills across the production of diverse products, including trucks and buses. The company is deeply invested in the comprehensive development of its women employees, providing them with hands-on industry experience through specialized training and workshops designed to boost their skills. With women representing more than 22% of the new recruits this year, Tata Motors stands as a proud proponent of women’s advancement in the manufacturing industry.

 SANY Heavy Industry India Pvt Ltd proudly announced the grand inauguration of its new Regional Office in Kolkata, further solidifying its commitment to serving customers across the East region. The auspicious occasion was graced by the esteemed presence of Deepak Garg, Vice President & Managing Director of SANY Heavy Industry India Pvt Ltd, and Shashank Pandey, Excavator Business Unit Head, who jointly unveiled the new office. Joining them were distinguished guests including Vishwajeet Singh, Regional Manager – Excavators, and Debasish Pandit, Regional Manager – HE & SANY India Team, underscoring the significance of this milestone for SANY’s operations in the East.

 The newly established office is strategically positioned to cater to the needs of dealers, customers & Financiers in the East region, ensuring enhanced accessibility and support for SANY’s esteemed clientele. Following the inauguration, the SANY India team engaged in productive one-on-one meetings with dealers, focusing on collaborative growth strategies tailored specifically for the East region.

 “We are thrilled to expand our footprint in Kolkata, a vibrant hub of business activity in the East,” remarked Deepak Garg. “This new Regional Office signifies our unwavering commitment to providing superior service and support to our valued dealers and customers.” Shashank Pandey added, “With this strategic investment, we aim to strengthen our partnerships and drive mutual success in the East region. We look forward to leveraging our expertise and resources to fuel growth and innovation.”

The inauguration of the Kolkata Regional Office marks a significant milestone in SANY’s journey, underscoring its dedication to customer-centricity, operational excellence, and market leadership.

Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with South Indian Bank to offer convenient financing solutions to its commercial vehicle customers and dealerships. South Indian Bank will offer financing across the entire commercial vehicle portfolio, and customers will benefit from the bank’s wide network and specially curated easy repayment plans. The alliance represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimising collateral requirements, lowering rate of interest and streamlining credit processing.

Speaking on the development, P R Seshadri, MD & CEO, South Indian Bank, “At South Indian Bank, we are dedicated to fostering a secure, agile, and dynamic banking environment tailored to the needs of fleet owners and dealerships. Our collaboration with Tata Motors enables us to deliver seamless vehicle financing solutions to commercial vehicle dealers and customers. We are confident that our partnership with Tata Motors will result in best-in-class financing solutions, setting a new industry benchmark for excellence.”

Commenting on this partnership, Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “We are delighted to announce our partnership with the reputed South Indian Bank, which understands the needs of our customers. For our customers, easy access to financing solutions for their commercial vehicles is one of the key priorities for their operations. Our alliance aims to empower fleet owners and dealerships to achieve their business goals. We look forward to providing greater convenience and support to our valued customers and partners.”

Tata Motors offers extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments. The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts. South Indian Bank excels in dealer finance by providing unmatched financial solutions to dealers nationwide. Leveraging on its extensive branch network and deep understanding of the industry, the Bank offers flexible, competitive financing to dealership needs. The Bank supports dealers in their growth with attractive interest rates, flexible terms, and efficient processing, making it the preferred choice for dealers seeking reliable financial support.

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