Volvo Eicher Commercial Vehicles Ltd (VECV) unveiled an electric light truck at the inaugural edition of Bharat Global Mobility Expo in January 2024. It was the only commercial vehicle manufacturer to unveil a new product. What it was not, was the only commercial vehicle manufacturer to display an alternative fuel technology vehicle. 

If the passenger vehicles are witnessing the influx of new technologies in the alternative fuel technology domain and in ADAS, commercial vehicles (CVs) are quickly catching up. They too are attracting a lot of investment in technology to ensure a lower TCO and higher uptime. A look at the CVs that were launched in the post pandemic period and it would be clear that a lot of new technology on emissions, performance, efficiency, comfort and safety side has gone into CVs. 

CVs also performed very well in terms of sales in the post pandemic period, albeit with a lower base level. They may not have attained the peak of 201-12, their performance was not lacking in lustre either. Segments such as buses showed a smart recovery from a very low base during the pandemic period. In FY2022-23, commercial vehicles recorded a growth of 34 percent with sales of 9,62,000 units as compared to the sale of 7,16,000 units in FY2021-22.

In the 2023 calendar year, 9,78,385 commercial vehicles were sold, marking a single digit growth figure. In the third quarter of FY2023-24, commercial vehicles recorded a growth of 3.5 percent with the sale of 2,35,167 units. While the SIAM President Vinod Aggarwal may have termed the performance in terms of sale of the auto industry as satisfactory, some analysts and observers have began expressing that a slowdown is on the way. 

Leading ‘ratings’ organistion Crisil has mentioned in its recent report that revenue growth of CV makers will moderate to between five and seven percent in the next fiscal despite the operating margins being steady and the realisation being better. 

With stable commodity prices, the moderation of between five to seven percent – against an estimated growth of nine percent in FY2023-24 – is likely be because of a hike in vehicle prices. What is ironic is that the growth moderation is expected to take place despite higher average realisations on the back of better growth in M&HCVs and stable raw material (especially steel, iron and aluminium) price.

With operating margins expected to be a good 10-11 percent in the next fiscal, Crisil’s study of four commercial vehicle manufacturers accounting for over 70 percent of the market share is indicative of a certain moderation in the commercial vehicle space. 

M&HCV demand is contingent upon activity in key end-user infrastructure related sectors — roads, real estate, mining and construction, besides transportation and replacement demand. LCV demand, on the other hand, is dependent on last-mile connectivity and e-commerce players.

The Crisil report takes into consideration the four CV makers that account for over 70 percent of the market share. It states that a vital factor that will lead to growth moderation will be an increase of vehicle prices. 

Says Anuj Sethi, Senior Director, CRISIL Ratings, “Revenue growth of CV makers will be driven by higher realisations next fiscal. We expect domestic revenue growth for M&HCVs to lower to 2-3 percent (~ 5 percent this fiscal), and this too will largely be driven by demand for buses. The likelihood of brief slowdown in infrastructure spending owing to general elections and continuing high interest rates shall impact overall M&HCV growth. Demand for LCVs is seen subdued this fiscal due to high-base effect and moderation in spends by e-commerce players. A similar trend is expected next fiscal as well.”

Domestic sales, accounting for over 90 percent of total volume, are expected to inch closer to the previous peak of ~10 lakh units seen in fiscal 2019. Export volume, however, will continue to be sluggish due to continuing inflationary headwinds and economic slowdown in key markets such as Sri Lanka, Africa, and Latin America.

This fiscal operating margin is seen reaching pre-pandemic peaks of ~10 percent, supported by price hikes to offset higher cost of compliance on emission norms, better realisations due to increased sales of M&HCVs and stable raw material prices. This trend is expected to be sustained next fiscal too. That said, in the event of continued sluggishness in sale volumes, discounts offered by CV makers may increase, and partially impact operating margins.

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Ashok Leyland, the Hinduja Group’s Indian flagship and a leading commercial vehicle manufacturer, has entered a strategic vehicle financing partnership with Kerala Grameena Bank through a signed Memorandum of Understanding. The agreement is designed to provide customers purchasing Ashok Leyland vehicles with customised and convenient financing solutions.

The MoU was formalised by Viplav Shah, Head of LCV Business at Ashok Leyland, and Gundekar Harish Gangadhar Rao, General Manager of Kerala Grameena Bank. Vimala Vijayabhaskar, Chairperson of Kerala Grameena Bank, was present during the signing.

Under the partnership, Kerala Grameena Bank will deliver end-to-end financial solutions to Ashok Leyland customers. The collaboration seeks to improve customer convenience through vehicle loans featuring flexible and easy-to-manage repayment options tailored to individual needs and preferences.

Shah said, “Ashok Leyland is delighted to partner with Kerala Grameena Bank to provide our customers with attractive, accessible and customised financing solutions. This strategic partnership will further enhance the accessibility of our innovative range of commercial vehicles, enabling businesses and fleet operators to invest with greater confidence and financial flexibility. Powered by cutting-edge technology and engineered to deliver industry-leading total cost of ownership, our vehicles are designed to enhance customer productivity and profitability. Together with Kerala Grameena Bank, we look forward to creating greater value for our customers and supporting their growth journeys.”

Vijayabhaskar said, “Kerala Grameena Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment in the state of Kerala.”

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Scania Commercial Vehicles India unveiled the new G 560 Super 10x4 Mining Tipper at Bauma Conexpo India 2026. It marks the expansion of the Swedish truck maker's Super range of heavy-duty trucks. Combining power, robustness and reliability to perform in challenging environments such as mining and other off-highway applications, the G 560 Super is powered by a 560 hp 13-litre engine that produces 2,800 Nm of peak torque to support superior fuel efficiency and lower CO₂ emissions. Paired with the engine is the Scania’s G33 Opticruise gearbox. 
The 10x4 axle configuration features three steerable axles and heavy-duty rear axles, providing the strength and capability required for challenging operations. With a 32.5 cu. m SAE heap volume and a technical gross vehicle weight of 71 tonnes, the G 560 Super is designed to support high-volume material movement and has a robust chassis at its core. The durable Hardox 450 steel rock body is capable of withstanding the rigours of demanding mining operations. The spacious G Series cab, smart displays and real-time vehicle monitoring enhance driver comfort, safety and ease of operation.
“The Super is already an important part of our offering in India, and with the reveal of the G 560 Super 10x4, we are taking the next step by bringing more products with Super power to our customers. Our focus is on bringing the right technology for the right application and, importantly, providing our customers with a complete solution that delivers value beyond the vehicle itself," said Silvio Munhoz, Managing Director, Scania Commercial Vehicles India Pvt. Ltd.
The G 560 Super 10x4 is already at some customers of Scania in India undergoing 'seeding' Once that is complete and the customers get an experience of its capabilities in real-world mining operations, it will be made commercially available.

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Sany India showcased 31 machines at Bauma Conexpo India 2026. Among these were 13 new product launches across its business units under the theme, 'Forging the Future Together'. Highlighting a diverse portfolio that consists of excavation, deep foundation, road construction, mining, port machinery, aerial work platforms, material handling and heavy-duty transportation, the company drew attention to its focus on technology development; on electrification in the heavy machinery space; sustainability and application-led engineering. 
A good number of exhibits pointed at the shift towards electric powertrains. The electric excavators, for example. The wheel loaders to electric mining trucks, mining tippers, reach stackers, aerial platforms and heavy-duty vehicles, for example. 
Interesting were the SY215C-9LC Quarry, SY210C-9 Quarry and SY215E electric excavators that will be launched soon in the Indian market. The others were the SW936E and SW956E electric wheel loaders; the STR90C-10 PRO and SSR110C-10 PRO soil compactors; the SRSC45E3 electric reach stacker; the SCP350C2 diesel heavy-duty forklift, the SPT42 42-metre telescopic boom lift, SPS1414HA electric Scissor lift and SPT26AC electric telescopic boom lift; the SCP30 3-ton forklift, and the 5565E electric tractor as well as the 3555E electric tipper with a 462-kWh battery configuration.
“India’s journey towards Viksit Bharat is creating tremendous opportunities for the construction and infrastructure equipment industry. At SANY, we see ourselves as a catalyst in this journey by bringing together technology, local capabilities and solutions that respond to the evolving needs of our customers. Our 31-machine showcase, including 13 new launches, reflects this commitment." "The growing presence of electric equipment across our portfolio demonstrates our belief that productivity and sustainability must move forward together," said Deepak Garg, Vice Chairman & Managing Director, Sany India
With a comprehensive manufacturing facility at Chakan (Pune), the company has invested in local capabilities for a 'made in India for the world' approach. Developing solutions that address Indian operating conditions while contributing to global requirements, Sany India is working on a localisation-led approach. 
 

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Daimler India Commercial Vehicles (DICV) has reaffirmed India's strategic value within Daimler Truck after the formation of the ISEAA customer region for the Mercedes-Benz Trucks segment. The company also outlined BharatBenz's next growth phase, driven by product innovation, customer ecosystem expansion and continued investment.

The Mercedes-Benz Trucks segment houses two brands: Mercedes-Benz Trucks and BharatBenz. DICV serves Indian customers under BharatBenz, while the Mercedes-Benz Trucks brand caters to South-East Asia, Australia-Pacific and other markets. Under a new operating model, the segment is divided into Europe, LAMEA, China and ISEAA regions. ISEAA unites previously separate markets under one customer-focused structure.

DICV anchors the ISEAA region, placing India at the centre of a framework spanning India, South-East Asia and Australia-Pacific. This reflects DICV's growing role as a manufacturing, engineering and export hub. Since operations began, DICV has exported over 75,000 trucks and buses and more than 330 million parts to over 70 markets, and supplies medium-duty transmissions from Chennai to Daimler Truck plants in Germany. Covering 42 countries and nearly 2.8 billion people, ISEAA offers substantial long-term growth, with commercial vehicle demand expected to rise over 5 percent annually.

DICV is accelerating BharatBenz's transformation, targeting safer, more productive transport solutions. With India's safety norms evolving, BharatBenz is readying its portfolio with Advanced Driver Assistance Systems calibrated for Indian conditions. Building on HX and Torqshift launches in construction and mining, BharatBenz continues bringing globally proven Daimler Truck technologies to India. Torqshift Automated Manual Transmission, proven worldwide and adapted for Indian duty cycles, improves driver comfort, reduces fatigue and lowers Total Cost of Ownership.

DICV keeps investing in a customer ecosystem maximising uptime and lifecycle value. BharatBenz's TruckConnect digital fleet management solution enables performance monitoring and data-driven insights. The BharatBenz Rakshana programme now services over 98 percent of vehicles within 48 hours. DICV plans to expand its service network from 430 touchpoints to 600 by 2030, focusing on northern, eastern and north-eastern India.

India's expanded role is backed by continued investment in local manufacturing, engineering and technology. These build on DICV's recently announced additional investment of approximately INR 40 billion in Tamil Nadu under a non-binding facilitation MoU with the state government. This takes DICV's cumulative investment in India beyond INR 145 billion. DICV operates with 92percent localisation and is supported by more than 400 local suppliers, strengthening its ability to develop products for Indian and global markets.

Torsten Schmidt, CEO & Managing Director, Daimler India Commercial Vehicles and President Mercedes-Benz Trucks Customer Region ISEAA, said, "India has long been an important market for Daimler Truck and the home of BharatBenz. Through the new ISEAA customer region, we are bringing India, South-East Asia and Australia-Pacific closer together to strengthen collaboration, share capabilities and respond faster to customer needs across these markets. DICV serves as the anchor entity for the region, building on its established strengths in manufacturing, engineering and exports. For our customers in India, BharatBenz remains focused on delivering products and services designed specifically for local operating conditions, while benefiting from the scale, expertise and collaboration of the broader Mercedes-Benz Trucks segment.”

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