By Priya Singh
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Updated On: 15-Jul-2023 04:48 AM
Domestic Tractor Sales Report for June 2023 Shows Increase of 4.19% and 98,438 Units Sold
Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.
Welcome to the Cmv360 Weekly Wrap-Up, where we offer you the most recent commercial vehicle industry news and developments. Stay tuned with us as we explore these and other automobile parts-related subjects.
Check out this week's important news on the truck, three-wheeler, tractors, new launches, and much more.
Auto sales in June grow by 10%, first-half sales by 53% of CY2023
In June 2023, the Federation Of Automobile Dealers Association (FADA) issued sales data. The sales of all popular Commercial Vehicle manufacturers in India are included in this report. It shows a 0.44% increase in Y-O-Y truck sales in India. In June 2023, the Commercial Vehicle sold 73,212 units, up from 72,894 in June 2022.
Tata Motors remained at the top of the rankings, with the largest number of sales of 26,033 units, while Daimler India experienced the highest growth of 41.05% in FADA June 2023 sales.
Domestic Tractor Sales Report for June 2023 Shows Increase of 4.19% and 98,438 Units Sold
Domestic sales in the Indian tractor sector increased by 4.19% during June 2023 as compared to the same month of the previous year. This increase in sales is good news for the agricultural machinery sector, which is vital to India's agrarian economy.
Various tractor manufacturers performed well throughout this time period, with some attaining spectacular growth and extending market shares while others had difficulty in maintaining their market positions. This introduction provides a summary of current sales patterns, laying the groundwork for a deeper dive into the individual performances of India's main tractor manufacturers in June 2023.
The June 2023 domestic tractor sales report shows 98,438 tractors sold. This resulted in a 4.19% increase in domestic tractor sales in June 2023. Overall, domestic tractor sales in June 2023 showed a healthy growth trend, laying the groundwork for possibly remarkable sales in the future season.
Mahindra Gets A Spot In The Record Books for Highest Bolero MaXX Pik-Up Deliveries
M&M, the maker of the Bolero pick-up, stated that it has achieved a new record for the highest delivery of the all-new Bolero MaXX in a single day across the country, entering the prestigious Asia and India Book of Records.
M&M dealers across India delivered 3,152 units of the Bolero pick-up to a broad range of clients on May 31, 2023. The world record is under the 'Industry & Business category’.
Since the brand's inception, Mahindra has sold over two million pick-up trucks. According to the firm, its range of vehicles is designed and constructed in India specially for Indian consumers and is ideally adapted to the country's logistics demands, making it the backbone of the country's last-mile logistics network.
Murugappa Group's EV Arm Launching 3 Electric Tractors
TI Clean Mobility (TICMPL), is ready to shake the tractor industry in the current fiscal year with the debut of three electric tractors. Recognizing the advantageous cost economics of battery-powered products, TICMPL intends to target "the productive end of the EV spectrum," focusing on three-wheelers, tractors, and medium to large commercial vehicles.
Diesel-powered tractors, which are common in India, contribute to pollution and carbon emissions. TICMPL hopes to encourage green farming techniques that benefit both farmers and the environment by deploying electric tractors. Electric tractors have the potential to greatly cut CO2 emissions, which are the principal cause of air pollution and climate change.
Rahul Gandhi meets with farmers, drives a tractor, and sows seeds in Sonipat, Haryana.
In a surprising turn of events, Rahul Gandhi, the prominent Indian politician and former leader of the Indian National Congress was recently spotted actively participating in farming activities. Embracing a hands-on approach, Mr Gandhi was seen cultivating fields and engaging in various agricultural tasks.
Mr Gandhi's involvement in farming highlights his commitment to championing the cause of India's farmers and addressing their concerns. This move signifies a desire to bridge the gap between policymakers and the grassroots level, demonstrating his dedication to understanding the challenges faced by rural communities.
Bajaj Auto will work with Indian universities to increase employability.
BEST: Bajaj Engineering Skills Training is an initiative started by Bajaj Auto to cooperate with India's premier universities and engineering schools to establish state-of-the-art laboratories. The program's goal is to provide engineering graduates with best-in-class training in advanced manufacturing capabilities, hence increasing their employability.
Bajaj Auto will finance the operational expenses in the initial phase of the initiative and eventually encourage these centers to become financially sustainable over time. This initiative, developed in collaboration with Banasthali Vidyapeeth in Rajasthan and Symbiosis International University in Maharashtra, will be expanded to eleven institutes.
Mandatory AC norms for truck cabins to be rolled out from January 1, 2025
In a move aimed at enhancing the comfort and safety of truck drivers, the government has made air-conditioned cabins mandatory for all trucks operating in the country. This decision comes as part of the ongoing efforts to improve working conditions for drivers and promote road safety.
The new regulation, which was officially announced by the Ministry of Transport, requires all trucks to be equipped with functioning air-conditioning systems in their cabins. The mandate applies to both new vehicles entering the market and existing trucks currently in operation. Truck manufacturers and operators have been given a grace period of six months to comply with the requirement.
The Ministry of Road Transport and Highways (MoRTH) has mandated that air conditioning systems be installed in the cabins of motor vehicles classified as N2 and N3 beginning with vehicles manufactured on January 1, 2025.
E-Vaadagai App: Farmers Can Register for Agri-Machineries Through This Mobile App
Authorities in Virudhunagar district have recommended farmers to register on the e-Vaadagai app in order to receive subsidies while leasing or renting farming machines.
The subsidy program is designed to help small and marginal farmers by giving a Rs 250 per acre subsidy for the rental of machinery such as earth movers, bulldozers, tractors, and truck-operated coconut hoists. Each farmer is eligible for a maximum of Rs 1,250 in subsidies for up to five acres of land. The subsidies will be put transferred into the farmers' bank accounts.
Domestic Tyre Demand will Grow by 6-8% in FY24: ICRA
According to ICRA, tyre demand will increase in the domestic market for FY24 by 6-8% YoY, owing to favourable demand from the original equipment manufacturer (OEM) segment and an expected rebound in replacements.
A better product mix and range-bound input prices are likely to raise margins by 200-300 basis points in FY24, according to the independent and professional investment Information and Credit Rating Agency.
Based on favourable prospects for most product categories, the OEM segment is predicted to increase by 7-9% YoY in the current fiscal year.
Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME 3.0), a new iteration of the electric vehicle subsidy scheme, is apparently being designed in India. In its third phase, this modified strategy may include light commercial vehicles and financing for research on local solutions for the sector.
While specifics of FAME 3.0 have not been revealed, the upcoming phase is expected to support vehicles fueled by other fuels, such as hydrogen. This represents a substantial divergence from earlier FAME systems, which did not enable such vehicles.
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