Amtek Auto is said to be contemplating the sale of its German unit Tekfor in an effort to reduce its debt burden. The company is known to have offered Tekfor to a foreign buyer for an undisclosed amount. If the deal goes through, Amtek Auto could look at reducing a good deal of its debt burden claim industry sources. They[Read More…]
Maruti Suzuki has began exporting its Light Commercial Vehicle (LCV) Super Carry. The first lot of 100 Super Carrys, according to a statement issued by the company, were shipped from India to South Africa and Tanzania. In what is looked upon as the company’s first LCV, the Super Carry, if the industry sources are to be believed, will be exported[Read More…]
An analysis of Commercial Vehicle (CV) pools originating in CY2013 and CY2014 pools by ICRA has revealed that their performance has been relatively weak initially compared to those that originated in CY2012 and CY2011 at similar points post securitisation. A gradual reduction in delinquencies has been observed around 21 months post securitisation in pools originating in CY2013. Due to the[Read More…]
Hyderabad based small commercial vehicle aggregator, TruckSumo, has suspended its services and has stopped taking orders from June 01, 2016, according to sources tracking the development closely. Claims are that the company had been finding it difficult to run operations for some time. Co-founder Nithin Baalay is however known to have denied the rumors. According to him the company is[Read More…]
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