INDIAN TRUCKING INDUSTRY MOVING FROM BASIC TO VALUE BASED TRUCKS
By Rohit Kr. Patra | TNI Network
Date: Aug 17 , 2017
NEW DELHI: As per an international report the Indian truck manufacturers are now moving from basic economy truck to value trucks. This trend will open a new horizon of growth opportunities.
Sunny Manjani program Manager, Mobility Practice, Frost & Sullivan said,“Higher reliability and productivity are the major benefits of value trucks with overall cost of ownership being the major USP, However, the poor availability of drivers and growing importance of comfort and safety will require value-added services to be packaged in the value truck offerings for increased uptake and customer retention.”
Product differentiation strategies by global OEMs for value trucks should be based on power train upgrades, safety, cab features, and telematics solutions. Larger engines, increased safety, more comfort etc.
Greater degree of variance from low-cost trucks will give western OEMs, such as Daimler, Volvo, MAN, and so on the chance to derive greater ROI from TRIAD-based technologies. It will also give faster paybacks to Asian OEMs for R&D investments.
Manjani said,“Market-leading, homegrown players should invest more in technology as well as look for more opportunities in export markets.” Their future-ready technology will enable entrants like BharatBenz (Daimler India Commercial Vehicles) and VECV (Volvo and Eicher) to become formidable players in the coming decade. Other major participants in the India heavy duty truck market include Tata Motors, Ashok Leyland, Mahindra, and SML Isuzu.
The sale of value trucks will grow largely at the expense of the higher end low-cost truck market. The value segment will nearly double in the next 10 years, largely driven by demand from India.