The Thai commercial vehicle market over 2 tons gvw plunged by 37% to 68,295 units in the fourth-quarter of 2023 from 108,498 units a year earlier.

The Philippine market for commercial vehicles over 2 tons gvw declined by 10% to 30,656 units in the fourth quarter of 2023 from 34,131 units in the same period of the previous year, according to analysis of data from various industry sources.

Having announced its ‘E-Mobility kit’ in 2023 – a portfolio of advanced electric drives, auxiliary components and complete systems for medium and heavy-duty commercial vehicles – ZF says it plans to ramp up production from 2025 to meet demand.

The Malaysian commercial vehicle market over 2 tons gvw expanded by more than 5% to 22,217 units in the fourth quarter of 2023 from 21,050 in the same period of the previous year

The Indonesian market for commercial vehicles over 2 tons gvw continued to decline sharply in the fourth quarter of 2023, by 29% to 34,552 units from 48,636 units a year earlier.

The commercial vehicle market over 2 tons gvw expanded by 12% to 91,830 units in the fourth quarter of 2023 boosting annual sales overall.

Karsan is entering the Dutch market for the first time after signing an agreement to export two level 4 autonomous e-Atak electric buses in Q4 2024, to Rotterdam-based public transport operator RET (Rotterdamse Elektrische Tram).

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to deteriorate in the fourth quarter of 2023, with sales falling by more than 14%.

Formed in 1996, Toyota had gradually increased its stake in the JV andcurrently holds 80.5% of the shares and Panasonic the remaining 19.5%.

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).

Steven Miller replaces Brett Icahn as Icahn Capital Board Designee. Miller is a portfolio manager at Icahn Capital L.P. a subsidiary of Icahn Enterprises L.P. The board will continue to be composed of 10 directors, nine of whom are independent.

Record sales (526,053 trucks and buses sold) led to record revenue in 2023 (EUR 55.9 billion) and an increase of EUR5bn compared with EUR 50.9 billion in 2022). Adjusted EBIT in 2023 grew by 39% to a record EUR 5,489 million compared with EUR 3.959 million in the previous year.