Eicher Motors

Volvo Eicher gaining momentum

Volvo Eicher gaining momentum

It has been quite a few years since the Swedish giant Volvo came along with the CV maker Eicher for its aggressive plans for the Indian market in the CV space and it is now that the products are gaining a sustainable momentum in the country.

Notably, Volvo Eicher has recently said that the company has sold 2,966 trucks and buses in June, up 43 percent from the year-ago period. However, the exports took a bit of hit as they were slightly lower at 220 units, according to the statement issued by the company.

Eicher Motors Reports Net Profit of Rs. 40.2 crore in 4Q

Eicher Motors Reports Net Profit of Rs. 40.2 crore in 4Q

Eicher Motors has declared its fourth quarter results.

The organization's fourth quarter net profit shot up to Rs. 40.2 crore against Rs. 15.8 crore, year-on-year.

In a tete–a-tete with CNBC-TV18, Siddharth Lal, CEO, Eicher Motors, talked about the company’s future plans after the declaration of these results.

On Thursday, shares of Eicher Motors surged over 15% after the commercial vehicles maker’s net profit after marginal interest in the March quarter increased twofold.

Indian Promoters Buy-Out Mitsubishi's 3.18% Stake in Eicher

Eicher-MotorsOn Thursday, giant automobiles maker Eicher Motors confirmed that its Indian promoters have purchased its entire 3.18% stake that was earlier held by Mitsubishi Motor Corporation. The financial details of the deal have not been disclosed.

Volvo Group finalizes JV deal with Eicher Motors

Volvo Group, world's number two truck manufacturer, has finalized its deal with Eicher Motors Limited (EML) for the establishment of a new Indian joint-venture company, by the name VE Commercial Vehicles Limited.

The transaction has been approved by the authorities and 50% of the joint-venture company has been merged in the Volvo Group from August 1, 2008.

According to sources, Volvo Group has paid Rs13,200 million for the joint venture.

India’s Cabinet approves FDI proposal of Volvo in Eicher JV

India’s Cabinet Committee on Economic Affairs (CCEA) has finally approved the FDI proposal, submitted by Swedish heavy-vehicle maker AB Volvo to invest US$275 million in a joint venture with commercial vehicle manufacturer Eicher Motors.

Volvo will pick up 45.6% stake in the new joint venture (JV) called Eicher Motors India. Eicher will hold the balance 54.4% equity of the new JV and will act as an operating-cum-holding company.

Eicher Motors Q3 PAT Slips 11.2%

On increasing input cost and rivalry, Eicher Motors Ltd has posted an 11.2 percent fall in the net profit after tax for the three months period ended on December 31, 2007.

The truck manufacturer has posted a net profit of Rs 15.8 crore as against Rs 17.8 crore in the corresponding period ended December 31, 2006.