Automotive news / / Sunday, 09-Mar-14 14:12:38 /
Global Truck Company Iveco eyeing Indian truck market for its product
Reports say that Iveco trucks of Fiat Group and the Paccar of America are targeting the huge Indian market for their products. India is the third largest of the truck market in the world and the companies are planning to tap the potential.Photo 1:
The Paccar of US headquartered at Bellevue, Washington already has its presence in India at Pune which is for the global operations of technology development and component sourcing. The centre was established 3 years ago with the collaboration of KPIT Cummins Infosystems, a local technology solution company.
Iveco is the second player who wishes to setup shop in India, the truck manufacturing firm belonging to the Fiat Industrial Group has already initiated the feasibility studies related to the venture in a small-way paving the foundation for expanded global presence to figure in the emerging global markets. This Italian giant already has its presence in the country with its passenger car division. According to a close source the company is vying for an independent entry and is evaluating the market possibilities.Photo 2: Global Truck Company Iveco eyeing Indian truck market for its product
The spokesperson of the company said that the Iveco was involved in the process of exploring a partnership possibility with the local auto manufacture AMW for a strategic association, but it only concluded with the agreement of wheel rims export of their European market. Presently the company now is looking for spread out operations in the country and gain considerable operations with the market growth.
Paccar has taken part in the Auto Expo held in Delhi and showed off its trucks. People who are aware of the development quoted that the American truck firm had already initiated viability studies to find potential for its brand of trucks. Paccar is engaged in designing and manufacturing light to heavy-duty trucks for global market under DAF, Kenworth and Peterbilt brands.