Commercial Vehicles | Power Systems Research

2025-05-25

Evaluating Mahindra’s Acquisition of SML Isuzu

Mahindra & Mahindra’s acquisition of a 58.96% stake in SML Isuzu for ₹555 crore marks a calculated push to expand its presence in the intermediate and light commercial vehicle (ICV and LCV) segments. With minimal exposure in the bus segment and a modest 3% market share in >3.5T CVs, this move is structured to unlock operational synergies, enhance platform capabilities, and fill existing product portfolio gaps.

Source: Mahindra.com Read The Article

Mahindra & Mahindra’s (M&M agreement to acquire a controlling stake in SML Isuzu comes at a pivotal point in the Indian commercial vehicle (CV) industry, where demand is gradually recovering post-COVID and the LCV and ICV segments are projected to lead growth. The $64,824,000 USD (₹555 crore) investment—targeted via the purchase from Sumitomo Corporation and Isuzu Motors Ltd—positions M&M to double its CV market share from 3% to 6% immediately, with stated ambitions of reaching 10–12% by FY31 and 20% by FY36.

Categories: Commercial Vehicles, Indian Subcontinent, Mergers & Acquisitions

Office: Japan Office

China Truck Group, Toyota Motor Sign Development Pact

Jack Hao

Last month, China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement to develop hydrogen powered commercial vehicles.

China is a market with great potential for the promotion and popularization of hydrogen energy, and long-haul heavy-duty logistics vehicles are an important application scenario that highly matches hydrogen energy.

Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches.

Categories: Alternative Power, Commercial Vehicles, Greater China, Hydrogen, Partnerships, Production

Office: China Office

2025-05-24

Layoffs Begin in the North American Truck Segment

Chris Fisher

Both Volvo and International Truck have initiated layoffs this year due to sluggish orders and high production capacity in preparation for a potential 2026 truck pre-buy ahead of the phase 3 GHG Emission Regulations scheduled for implementation in 2027.

Volvo Trucks North America plans to lay off up to another 350 workers from a Virginia plant as part of job cuts affecting up to 980 employees across the country since the beginning of the year.

Employees at the New River Valley plant in Dublin, Virginia, were notified of the workforce reduction this month, and their last day at the facility will be June 27, Volvo spokesperson Janie Coley said.

Categories: Commercial Vehicles, Economics, Legislation, North America, Tariff

Office: United States Offices

2025-04-29

AUTODATA Power Systems Research

Carlos Briganti, Managing Director South America Operations for Power Systems Research (PSR), participated in a major article on the future of diesel in trucks and buses in the March 2025 issue of AUTODATA magazine.

AUTODATA is a leading provider of technical information and software solutions for the automotive aftermarket. AUTODATA specializes in delivering up-to-date, manufacturer-verified technical information used for servicing, maintaining, and repairing cars, light commercial vehicles, and motorcycles.

A study by Power Systems Research published in the magazine notes that fossil fuel and its renewable variants such as biodiesel and HVO will dominate the cargo and passenger transport scene for many years to come.

As reported in AUTODATA, the PSR survey indicates that diesel, with small portions of a mixture of biodiesel and HVO, is now responsible for driving 99% of trucks and buses in Brazil, a percentage that drops to 94% in the European Union, 89% in the United States – and it is not because more low-emission alternatives are used there, but because 7% of the fleet is powered by gasoline. Another 3% run on natural gas and only 1% correspond to electric models. China is more advanced with 81% diesel, 10% gas and 9% electric. PSR

(Click the Read More» link to view the report in the full post.)

Categories: Commercial Vehicles, Publications, South America/Brazil

Office: Brazil Office

2025-04-20

Interest Rates Hurt Brazil Heavy Truck Production

Fabio Ferraresi

Heavy truck production in Brazil fell 3.7% in Q1 2025 versus the same period in 2024, totaling 16,700 units, according to Anfavea. The decline is attributed to high interest rates (Selic), which have limited fleet renewal despite a record grain harvest.

Heavy truck sales also dropped 7% in the quarter, with 13,000 units registered.

OEM Performance – Heavy Trucks: Volvo: 3,900 units sold (+4% YoY); Scania: 3,500 units (−17%), and Mercedes-Benz: 2,100 units (−13.5%)

Despite the contraction in the heavy segment, total truck production grew 8.2%, reaching 31,700 units. The Medium-duty truck segment production was 8,900 units (+28.5%) and the Light-duty truck production was 4,500 units (+10%)

Categories: Central/South America, Commercial Vehicles, PowerTALK, Production, South America/Brazil

Office: Brazil Office

Brazil Light Vehicle Exports Grow 41%

Fabio Ferraresi

Vehicle exports from Brazil grew by nearly 41% in the first quarter of 2025. Brazil automotive industry shipped 115,600 units abroad, compared to 82,200 vehicles during the same period in 2024. Only in March, 38,900 vehicles were exported, up 19% year-over-year.

The increase was boosted by higher export volumes to Argentina, which accounted for 58% of Brazil’s vehicle exports in Q1 2025. A total of 67,630 vehicles were sent to Argentina— up 120% from the same period last year.

Categories: Central/South America, Commercial Vehicles, Passenger Cars, Minivans, and SUVs, Production, South America/Brazil

Office: Brazil Office

Trump Tariffs Impact NA Truck Market

Chris Fisher

It appears the two main goals for implementing US trade tariffs: to bring more manufacturing jobs to United States and to negotiate more favorable trade agreements to reduce the trade deficit with the rest of the world, could negatively impact the North American medium and heavy truck market. In 2024, the United States trade deficit was $918.4 billion which was a 17% increase from 2023.

April 9, President Trump paused his reciprocal tariffs on most countries for 90 days. The tariffs for most countries would be reduced to 10% during this period. Canada and Mexico will not be impacted by the 10% tariff for goods trading under the U.S.-Mexico-Canada Agreement. However, tariffs on imported Chinese goods were raised to 145% after the Chinese implemented retaliatory tariffs on goods exported into China from the United States.

Categories: Commercial Vehicles, Emissions, Legislation, North America, Tariff

Office: United States Offices

2025-04-19

Automec 2025: Innovation and Transformation

Fabio Ferraresi

Automec 2025 offered a comprehensive showcase of emerging technologies and set the tone for the industry’s future in electrification, connectivity, and advanced diagnostics.

São Paulo – (April 22 – 26, 2025) Automec 2025 reaffirmed its standing as Latin America’s premier trade fair for automotive parts, equipment, and services. Hosting more than 1,500 brands and over 90,000 visitors, the key theme of the events were sustainable mobility, digital transformation, and the professionalization of the repair chain.

Accelerated Electrification. Exhibitors at Automec 2025 focused heavily on supporting this transition with products such as High-efficiency EV charging modules, Battery cooling and heating solutions, and Modular platforms and retrofitting kits for fleet conversion.

Component Innovation. Multiple players showcased system-level improvements including Enhanced thermal management systems, Scalable battery pack architectures, and Power electronics adapted for multi-voltage applications. PSR

Categories: Central/South America, Commercial Vehicles, Show Reports

2025-04-03

Meet Us at Automec

Automec, held in Sao Paulo April 22-26, 2025, is the leading event in Latin America in the Replacement and Repair sectors for light, heavy and commercial vehicles, and a team from Power Systems Research (PSR) will be there to report on the happenings. Event organizers expect more than 1,500 exhibitors and as many as 100,000 attendees.

Fabio Ferraresi, Director-Business Development-South America, for Power Systems Research (PSR), and Ivo Garcia Lopes, Senior Associate Consultant, will be at the fair. You can read show reports on LinkedIn, powersys.com and in our PowerTALK newsletter. For more information on Automec Show, click here. If you would like to set up a meeting with Fabio, contact him at info@powersys.com. Have a great Automec experience. #PSR, #automerc, #autoparts, #powersystemsresearch, #PSR, #commercialvehicles

Categories: Central/South America, Commercial Vehicles, Show News

Office: Brazil Office

2025-03-24

FPT Industrial Supplies Agrale Engine

Fabio Ferraresi

FPT Industrial has partnered with Agrale to supply the N60 CNG engine, powered by natural gas and biomethane, for the MA 11.0 GNV chassis. In Latin America, FPT increases it presence in the gas-powered bus market, supplying urban transport systems with low-emission engines that support decarbonization and air quality improvements while reducing CO₂ emissions.

Categories: Alternative Power, Central/South America, Commercial Vehicles, Emissions, Production, South America/Brazil

Office: Brazil Office

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