A new partnership with eDriving and GreenArrows Safety Management (GSM), a road safety training group, was recently announced that is aimed to help fleets in India reduce driver risk.
The outcome was driven by fundamental changes in global economic and business conditions – caused, in part, by the global pandemic – over the past 15 months.
The Indian connected trucks telematics market is expected to grow at a steady 25% year-over-year rate from 2020, while an estimated 7.42 million commercial vehicles are on Indian roads, serving various industries, according to the "Indian Connected Trucks Telematics Market, Forecast to 2022" report.
Commercial vehicle sales volumes are expected to contract for the rest of the year and into 2021 as a result of the COVID-19 pandemic.
The Indian automotive market had one of its most difficult years on record in 2019. In a country where nearly all vehicles purchased are financed; leasing, especially among corporations, is attempting to break through as a viable purchasing option.
Commercial vehicle sales in India were down 15% in November when compared to the same time last year, continuing a trend of monthly declines since April resulting from a broader slowdown in Asia’s third-largest economy.
PSA Group launched “Citroën Lease” in partnership with ALD Automotive to offer full leasing services of Citroen assets to its customers in India.
Toyota and Suzuki's collaboration into several global markets will include further development of electric vehicles and technology, the provision of compact vehicle platforms, and automotive production in the India, Europe, and Africa regions.
Uber launched a redesigned version of its fleet app for fleet owners in India, and is designed to help improve the management of vehicles and drivers in the country.
A rapidly growing middle class, new investments in infrastructure, and a simplified tax scheme make India a prime target for global fleet-based businesses.
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