Tata Motors to export some older-technology trucks after court ban | Reuters
NEW DELHI Tata Motors (TAMO.NS) is planning to export some of its unsold stock of older-technology trucks, after an unexpected ban on their sale in India, a senior company executive said on Wednesday. India's top court in March banned the sale of vehicles that run on older Euro III fuel technology from April 1, a decision that led to a sharp fall in shares of major automakers sitting on unsold inventory
NEW DELHI Tata Motors (TAMO.NS) is planning to export some of its unsold stock of older-technology trucks, after an unexpected ban on their sale in India, a senior company executive said on Wednesday. India's top court in March banned the sale of vehicles that run on older Euro III fuel technology from April 1, a decision that led to a sharp fall in shares of major automakers sitting on unsold inventory.
Tata Motors, the country's largest truck and bus maker, has unsold stock of about 15,000 commercial vehicles while its dealers hold around 3,000 units, said Ravindra Pisharody, executive director for commercial vehicles. "Over half the stock is exportable over 4 to 6 months with minimal or no change," said Pisharody, adding that the auto industry is still considering whether legal action was possible.
"Of the balance we are looking at converting them (to Euro IV technology) ... and cannabalising the remaining for spare parts," he said.
India said in 2015 automakers must manufacture only Euro IV-compliant vehicles from April 1, 2017 as they are less polluting, but it did not propose banning the sale of older-technology vehicles from the same day.The court said in its ruling that the health concerns of citizens took precedence over any financial losses for companies. (Reporting by Aditi Shah; Editing by Euan Rocha and Edwina Gibbs)
This story has not been edited by Firstpost staff and is generated by auto-feed.
ATHENS (Reuters) - Greek police used teargas and water cannon to disperse people who had gathered in central Athens on Saturday to protest against mandatory COVID-19 vaccinations. More than 4,000 people rallied outside the Greek parliament for a third time this month to oppose mandatory inoculations for some workers, such as healthcare and nursing staff.
ISTANBUL (Reuters) - Two Turkish soldiers were killed and two were wounded in an attack on their armoured vehicle in northern Syria, and Turkish forces immediately launched retaliatory fire, Turkey's defence ministry said on Saturday. "Our punitive fire against terrorist positions is continuing," the statement on Twitter on said. It did not specify where the attack occurred, but media reports said it was in the al-Bab area.
By Marcelo Rochabrun SAO PAULO (Reuters) - Protesters took to the streets in several Brazilian cities on Saturday to demand the impeachment of far-right President Jair Bolsonaro, whose popularity has fallen in recent weeks amid corruption scandals against the backdrop of the pandemic. This week, news broke that Brazil's defense ministry told congressional leadership that next year's elections would not take place without amending the country's electronic voting system to include a paper trail of each vote. Bolsonaro has suggested several times without evidence that the current system is prone to fraud, allegations that Brazil's government has denied