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IVECO is comming to India!
CarCrazyASTL posted a topic in Commercial Vehicles Scene in IndiaIveco, trucking arm of Fiat Group is all seraching it's way to the Indian truck market, which abounds with local and global manufacturers who have been surging ahead with new and high performance models. India is the fourth largest truck market in the world and is all set to overtake even the United States which is currently in third position. Many foreign truck manufactures have entered the Indian markets in the past five years. MAN, Scania, Foton and Volvo have all brought in their models into the country and even set up exclusive dealerships and service centers to cater to the needs of local buyers. Iveco, of the Italian Fiat Group is all set to enter India along with a local partner. It is rumored that Iveco has been holding rounds of talks with major truck companies in India along with Tata Motors. Iveco was also in partnership in the country providing technical support for Ashok Leyland in which they held a 15% share which they later sold to Hinduja Group in 2006 for Rs.600 crores. Progress for Iveco has been slow. The company has been in talks with Tata Motors since 2007 and is still trying to make its way into Indian markets, which is seeing increased growth in the past few years. Future growth to the tune of 8% to 10% is predicted with sales reaching well over the 3 lakh unit per annum mark which is why major trucking companies are heading in this direction.