The Indian Construction Equipment (CE) industry experienced a modest one percent year-on-year growth in sales during the second quarter of FY2024-25, touching a total of 30,686 units. Domestic sales accounted for 27,382 units whereas exports accounted for 3,304 units. 
The Earthmoving Equipment segment witnessed a six percent increase in sales during the same period. While the road construction and material processing equipment segments remained relatively unchanged, the material handling and concrete equipment segments experienced degrowth of 17 percent and 10 percent, respectively. 
Overall, the CE industry experienced a three percent year-on-year increase in sales during the first six months of the current fiscal year FY2024-25 (April – September 2024) as compared to the same period in FY2023-24 (April – September 2023). 
“The industry has seen a moderate growth YoY which is on expected lines due to general elections as well as seasonality”, averred V Vivekanand, President, ICEMA and Managing Director, Caterpillar India Pvt. Ltd.
“This has been possible due to the ongoing construction activities in the country that have helped maintain demand for construction equipment from a historically the best previous year”, he added.
As compared to Q1 FY2024-25, the CE industry witnessed a six percent increase in overall sales, expanding from 28,902 units in the first quarter to 30,686 units in the second quarter of the current fiscal year. This growth was primarily attributable to a 10% increase in sales of earthmoving equipment, which constitutes approximately 70 percent of the total CE sales. 
The Q2 sales of earthmoving equipment stood at 21,931 units – an increase of 10 percent from Q1 FY2024-25. Material processing equipment, with sales of 661 units registered a five percent growth. 
Sales for the remaining three segments declined in Q2 as compared to Q1 – material handling equipment by one percent at 3,713 units, concrete equipment by 5 percent at 3,042 units and road construction equipment by eight percent at 1,339units. 
The construction equipment sales registered 34 percent month-on-month and five percent year-on-year in September 2024. 
The industry’s performance has been good in September 2024, with sales touching 12,639 units as compared to 9,427 units sold in August 2024, exhibiting an impressive 34 percent month-on-month growth. 
Domestic sales accounted for 11,318 units, while exports totaled 1,321 units. Furthermore, as compared to September 2023, these sales figures represent a five percent year-on-year growth in September 2024. 
Of the five primary equipment segments within the Indian CE industry, only material processing equipment experienced a modest two percent decline in sales on a month-over-month basis in September 2024. The remaining four segments demonstrated robust growth – earthmoving equipment recorded a 32 percent increase, reaching 9,089 units; material handling equipment grew by 47 percent, totaling 1,491 units; road construction equipment experienced a 55 percent increase, reaching 598 units whereas the concrete equipment saw a 33 percent growth, with sales of 1,232 units. 
“The overall sales recovery in the second quarter after relatively slow growth in the first quarter is encouraging for the industry. The sales recorded in September have largely been responsible for this growth,” said Jaideep Shekhar, Convener, ICEMA Industry Analysis and Insights Panel, and VP and Managing Director, APAC & EMEAR, Terex India Private Limited. 
“With ongoing and some new infrastructure projects being announced in recent months, the industry is expecting the market for construction equipment to expand further this year, helping us to close on a positive growth in FY25,” he added.
 

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Mumbai-headquartered automotive major Mahindra & Mahindra has announced the price of the CNG variant of the Veero LCV.

First revealed in September 2024, the Veero CNG is available in two trims – the 1.4 XXL SD V2 CNG variant is priced at INR 899,000 (ex-showroom), while the 1.4 XXL SD V4 (A) CNG trim is priced at INR 939,000 (ex-showroom).

The Veero CNG is based on Mahindra’s modular Urban Prosper Platform (UPP), with a claimed mileage of 19.2 km/kg, offering a maximum range of 480 km with the 150-litre CNG tank. A 4.5-litre petrol tank for emergency extends the combined range to over 500 km.

In terms of payload capacity, the Veero CNG offers 1.4 tonne and 3035 mm cargo length. For safety it comes with driver-side airbag, adherence to AIS096 crash safety standards, high-strength steel construction and features like a False Start Avoidance System. The cabin also features driver plus two occupants, an air conditioner, reclining driver’s seat and a first-in-segment TFT cluster.

The company shared that the Veero LCV has a 20,000 km service interval.

Mumbai-headquartered diversified, multi-product, multi-fuel company Greaves Cotton has appointed Parag Satpute as the new Managing Director (MD) and Group CEO. In his new role, he will be responsible for Greaves Engineering, Greaves Retail, Greaves Finance, Greaves Technologies and Excel Controlinkage.

Satpute an automotive industry veteran brings with him over 29 years of experience and last held the position as the President of Bridgestone’s Fleet Business in Europe within the Global Business Unit Bridgestone Mobility Solutions. Prior to that he had led Bridgestone India as the MD.

He started his career with Sandvik as a Product Manager in 1997, and by 2014, he had become MD and Chairman of the Board (subsidiaries) for India operations.

He holds a Mechanical Engineering degree from Pune University and an Executive MBA from Warwick Business School.

Ashok Leyland, one of the country’s leading commercial vehicle manufacturers, has inaugurated three new M&HCV dealership outlets of Sahu and Sons Truckings in Jharkhand. These include two outlets in Ranchi and one in Serengdag, which now takes the company’s presence of having 30 M&HCV touchpoints in the state.

The 3S dealership in Ranchi is spread across 60,000 sqft and features 10 bays. It will serve customer needs in Ranchi, Hazaribagh, Gumla, Chatra, Koderma, Ramgarh, Khunti, and Simdega. The facility is equipped with tools and equipment, including wheel alignment machines, pneumatic systems and four dedicated accident repair bays with modern repair system facilities for the M&HCV segment. The second outlet inaugurated in Ranchi is a sales dealership.

Madhavi Deshmukh, National Sales Head - MHCV, Ashok Leyland, said, “Jharkhand is an important market for us, and we are delighted to expand our presence in the region with three additional touchpoints. We aim to leverage the region's thriving economic activity, expanding infrastructure projects, and increasing demand for commercial vehicles. Our partner, Sahu and Sons Truckings, through these new outlets, will help us meet the distinct demands of our customers in this region by offering tailored solutions.  We want to be a part of the growth and help our customers with the best products.”

Vivek Vishal, Director, Sahu and Sons Truckings, said, “We are thrilled to partner with Ashok Leyland and expand our presence in Jharkhand. The three new outlets will solidify the brand’s position as a significant player in the region. Ashok Leyland has consistently been a trusted and preferred brand in Eastern India. With this partnership, we aim to take its legacy forward by reaching more customers and providing end-to-end mobility solutions for their unique transportation needs.”

Chennai-based commercial vehicle major Ashok Leyland has inaugurated its new 3S (sales / service / spares) dealership outlet – Grover Motors in Ludhiana, Punjab.

The facility is spread across 104,000 sqft with 30 bays and marks the 17th M&HCV touchpoint for the company in the Punjab region. The dealership will be operational 24x7 featuring modern tools and equipment such as wheel alignment machines, pneumatic systems supported by mobile service vans, 8 accidental repair bays featuring advanced repair systems and trained technicians to ensure seamless service.

Anil Dhingra, Head Aftermarket-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 establishing a strong foothold in the region, and the new outlet will bolster our presence in this geography. Our partner, Grover Motors, with its strong presence in the territory, will ensure we grow our family of customers while ensuring we serve them better. We aim to contribute meaningfully to the larger ecosystem in the area with our innovative mobility solutions. The new outlet represents another step towards achieving our vision of being among the Top 10 CV makers in the world.” 

Kulwant Singh Grover, MD, Grover Motors, said, “We are delighted to further strengthen our partnership with Ashok Leyland and address the growing demands of customers in Punjab. The new outlet will enhance the brand's visibility in the region. Ashok Leyland has been a trusted and preferred brand in Northern India, renowned for its reliability, durability, and better total cost of ownership. We are committed to providing best-in-class ownership experience to our customers, and we look forward to not only expanding our customer base but also fulfilling their diverse transportation needs comprehensively by delivering complete mobility solutions through this partnership.”