No speed breaker for CV launches
Despite slowing sales of commercial vehicles (CVs), at least two firms, including a unit of Toyota Motor Corp., are readying to launch new products in India this year. Hino Motors Ltd., the commercial vehicle (CV)-making arm of Toyota Motor Corp., launched its tippers, tractors and luxury buses in May. Hino will be importing chassis from its factory in Thailand and will be assembling the vehicles locally. Another launch expected by December is from Mahindra International Ltd., a venture of Mahindra and Mahindra Ltd and Illinois, U.S.-based Navistar International Corp. It will make heavy duty trucks at an upcoming factory in Chakan, Maharashtra. A third auto maker, Daimler Hero Commercial Vehicles Ltd., a joint venture of Daimler AG and India’s Hero Group, outlined plans to produce a wide range of trucks in the country by the end of 2009. (April 2, 2009)