The World Trucks Blog

GAZ, KamAZ Cut Production

Wed, 08 Oct 2008 14:42:45 +0000

Most news from Russia at present surrounds the MICEX exchange, which is having some difficulty keeping its doors open as stock markets worldwide reflect a nervous sentiment on the part of the investor.

And now the contagion has begun to impact upon the Russian auto industry. Here is news that both GAZ and KamAZ are to restrict production, with KamAZ instituting a four day working week until December.

Remember when everyone was suggesting that growth in the Russian - and the Eastern European - markets would mitigate the contraction in the West? We're very glad that we didn't say that, because, as assertions go, it looks a bit foolish now.

Increase in demand for Commercial Vehicles in Romania

Tue, 07 Oct 2008 16:34:28 +0000

We've listened to a number of wise and far-sighted views about the true nature of the Eastern European truck market over the last couple of years. From the perspective of many OEMs and Tier 1s, it is a never-ending rainbow, whilst from our perspective, this view is disingenuous tripe.

It's a nice feeling then, to have one's cynicism vindicated by, of all places, Romania. Take a look at these figures.

Indian CV Manufacturers cut production as economy slows

Tue, 07 Oct 2008 16:31:23 +0000

Further evidence here about trouble in the Indian truck market. It a familiar story; increased costs - both in terms of procurement and operation - are stacked up against decreased demand and subsequently falling revenues. The net result has been double digit falls in sales, and a likely cut in production. So, for those OEMs already exposed to the Indian market, here's just one more strike against any semblance of a happy fourth quarter.

European Downturn: Volvo Goes First

Tue, 30 Sep 2008 13:30:17 +0000

News here that AB Volvo is to cut 1400 jobs as European truck demand softens.

Fiat Does the Deal with Zastava - but What of China?

Mon, 29 Sep 2008 14:43:14 +0000

Fiat has finally inked a deal with Serbian OEM Zastava according to this release, and we assume that Iveco will join in the fun at some point in the not too distant.

But what are we to make of this comment from SAIC? It may be an unfortunate choice of words, but Iveco does seem to be rather the junior partner. Not something you'd want to be in China.

Hino and India

Wed, 03 Sep 2008 01:59:50 +0000

News here that Hino is to tilt its hat at the Indian truck market.

More Downtime At Kenworth

Fri, 29 Aug 2008 13:09:12 +0000

According to this NIB, Kenworth's Chillicothe plant will be closing for an additional four days - two each in September and October - as demand continues to evaporate for Class 8 trucks.

Anyway, here's a link to PACCAR's Q2 analyst conference call transcript. Hindsight, 20:20 and all that.

Sinotruk H1 Profit Up 40 Per Cent, Shares Down 52 Per Cent Since Launch

Fri, 29 Aug 2008 12:50:06 +0000

Sinotruk, China's biggest heavy truck manufacturer and one of AB Volvo's largest problems has reported profits up by 40 per cent for the first half of 2008.

Another Merchant of Gloom

Thu, 28 Aug 2008 19:26:16 +0000

Splendid stuff to be read here, at Sean Maher's Dead Cats Bouncing blog. We particularly enjoyed his take on Russia, but it's all good.

The Commoditzation of Transport and the End of Brand.

Thu, 28 Aug 2008 16:50:45 +0000

One issue that applies to each OEM in equal measure is that of the diminishing value of brand within the transport sector. This is a philosophical as opposed to a quantitative discussion, and one that does not lend itself to ready measurement, but we make no apologies for posting it here, as it is one of the key developments that we see likely as the Commercial Vehicle industry moves forwards.

Volvo: July Deliveries.

Wed, 27 Aug 2008 21:30:40 +0000

AB Volvo frequently leaves itself open to ridicule, but it does, at least, operate in a fairly candid way. Its policy of issuing concise, clear delivery reports on a monthly basis is one that we like; it is transparent, and says much about both the health of AB Volvo, and, by extension, the state of the global market(s) going forward.

Navistar, Mahindra and GM.

Tue, 26 Aug 2008 20:10:08 +0000

We chuckle at the news that Mahindra needs an extra six months in order to test its US-bound pick up.

Ifo Data Shows Germany in a Tailspin

Tue, 26 Aug 2008 16:57:48 +0000

The Ifo data for Germany in July is horrible.

PACCAR, Q3 Estimates and Australian Cutbacks. Discuss.

Mon, 25 Aug 2008 21:14:28 +0000

PACCAR reports its Q3 figures on the 20^th October.

Chrysler Exits Daimler JV in China. Daimler Pays.

Mon, 25 Aug 2008 20:53:39 +0000

It's no real surprise that Daimler and Chrysler have agreed to disband their three-way joint venture in China, and that Chrysler will withdraw from Beijing Benz-DaimlerChrysler.