Light & Medium Truck
Isuzu Commercial Truck of America, Inc., said that Isuzu Motors Ltd. resumed truck production at its Fujisawa plant Tuesday. The factory had been idled since the devastating earthquake and tsunami that struck Japan March 11.
The Fujisawa plant manufactures N-Series trucks, diesel engines and components for the North American market, as well as commercial vehicles and parts for markets worldwide. The facility opened in January 1962.
IHS Global Insight Daily Analysis
Chinese commercial vehicle (CV) manufacturer Beiqi Foton plans to launch its models in India by 2012, reports Daily News and Analysis (DNA). Citing a source close to the matter, the article states that the company is close to investing in an assembly facility in Pune (India) and is expected to commence production by 2012. The report states that the company will introduce its BJ 6123 low-floor compressed natural gas (CNG) buses in India, which qualify under state transport authority regulations.
Just-Auto.com
Ashok Leyland, the Hinduja Group flagship, has closed the Financial Year ended March 31st, 2011 by posting all-time high sales and production numbers. The annual sales volume of 94,105 vehicles (63, 926 vehicles) was up 47 percent. While the domestic market accounted for 83,799 vehicles (57,947 nos.) up 45 percent, exports touched 10, 306 vehicles (5,979 vehicles) up 72 percent.
Dow Jones News Service
Caterpillar may be a major beneficiary of the trade pact between the US and Colombia. Deal would lift the 5 percent-15 percent tariff on CAT's U.S.-built construction machinery, trimming $200,000-$300,000 off the cost of a giant haul truck used by Colombia's mining industry. Colombia is already one of CAT's top ten export markets. CAT is now focusing its lobbying on the long-stalled free trade agreement with Panama, where the expansion of the canal is driving elevated demand for earth-moving equipment. CAT hopes Congress could vote on that deal by the middle of the summer. CAT down 1.1 percent at $111.05.
IHS Global Insight Daily Analysis
The outgoing chief executive officer (CEO) of Volvo AB, Leif Johansson has said he is positive on the growth prospects of many of its markets, reports Dow Jones International News. The senior executive told shareholders at its annual general meeting that while Volvo has "only seen a fragment of what Asia has to offer," it was also bullish on the fortunes of mature markets.
China Daily Information Company
Xiamen King Long United Automotive Industry Co Ltd, China's largest bus maker by shipments, is aiming to achieve overseas sales of 5 billion yuan ($762 million) in five years and is looking at mature markets as a growth engine, company officials said.
In China's largest bus export deal to Europe, the company delivered 172 buses to Malta on April 2 for 15 million euros ($21.3 million).
chicagotribune.com
GUANGZHOU, China (AP) — When millions of workers didn't return to their southern China factory jobs after Lunar New Year holidays, a turning point was reached for foreign manufacturers scraping by with slim profit margins.
Companies were already under pressure from rising raw material costs, restive workers and lower payments for exports because of a stronger Chinese currency. Despite hiking wages, labor shortages kept getting worse as workers increasingly spurned the often repetitive and unskilled jobs that helped earn China its reputation as the world's low-cost factory floor.
On Wednesday, April 6, Trevor Myers, president and CEO of Cloyes Gear and Products, Inc., testified on behalf of his company and the Motor & Equipment Manufacturers Association (MEMA) in support of pending U.S. Free Trade Agreements with South Korea, Columbia and Panama before the House Small Business Committee at a hearing entitled “Help Wanted: How Passing Free Trade Agreements Will Help Small Businesses Create New Jobs.” Cloyes Gear and Products, Inc. is a member of MEMA’s affiliate organizations the Automotive Aftermarket Suppliers Association and the Original Equipment Suppliers Association.
Wheels Unplugged
New Delhi, April 07 -- The truck market which has been really dominated by home grown majors in India has now seen as a potential growth market which resulted in global truck majors entering the market. Meanwhile the homegrown truck majors are changing gears and meet the challenge head-on. It has been reported that one of the two truck majors Hinduja group company Ashok Leyland has now announced that it would go for a brand revamp as part of a three-point strategy that also includes focusing on quality and people. It can be recalled that a couple of days ago, the company had set a target for itself to be one of the top 10 players in truck segment and top five in the bus segment in the next 5-10 years. Now according to the reports, the company, which is set to cross revenue of Rs 11,000 crore for the first time in this fiscal, has also lined up investments to the tune of Rs 800 crore and is scouting for acquisition opportunities to expand its global foot print.