BUSMAKERS' NEWS * WORLDWIDE
* India - Volvo buses set for slow drive on bumpy road
Bangalore,Karnataka,India -India PR Wire -10 March 2009: -- Volvo Buses India Ltd, which posted a robust 115 percent growth in 2008, is aiming a slower growth this calendar year due to the economic slowdown and fund crunch in the luxury bus segment, a top official said here Tuesday... 'These are tough times for all players in the passenger transport sector. With interest rates still higher on funding purchase of luxury buses and institutional finance scarce, private bus operators are not in a position to invest in our hi-tech products for the time being,' Sweden-based Volvo Bus Corp's Indian subsidiary managing director Akash Passey told reporters here... The company is expecting a modest 20 percent growth in 2009 even as the overall bus segment is set to witness a decline of 25 percent...
* Germany - Daimler Buses sees 2009 volume sales dropping
Frankfurt,Germany -Reuters, by Michael Shields & Greg Mahlich -Mar 10, 2009: -- Daimler hopes a series of efficiency-boosting measures will help cushion the blow to its market-leading bus business this year from the global economic downturn, with sales set to fall in 2009, it said on Tuesday... Sales of buses and chassis rose 4 percent last year to a record 40,600 units while its operating margin advanced to 8.4 percent from 7.1 percent in 2007... In Europe, the economic slump will hit the travel coach sector especially hard in 2009 while the market for city buses should remain more or less stable, it said... It said tougher refinancing conditions may reduce demand in Mexico, Turkey, and South America but added its U.S. business should remain brisk due to a big order backlog there...
Labels: busmakers' news worldwide
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