Ashok Leyland expects commercial vehicle industry to gain momentum gradually

  • Ashok Leyland expects both its domestic sales and overseas shipments to remain robust in the remaining part of the fiscal.
Ashok Leyland commercial vehicle. (Photo courtesy: Ashok Leyland)
Ashok Leyland commercial vehicle. (Photo courtesy: Ashok Leyland)

Commercial vehicle maker Ashok Leyland expects the industry to grow at a fast pace in the coming quarters as economic activity starts gaining momentum and demand for vehicles across segments starts picking up, a senior company official told PTI. The Chennai-based company expects both its domestic sales and overseas shipments to remain robust in the remaining part of the fiscal.

The company's Whole Time Director and CFO Gopal Mahadevan told PTI in an interaction that the pandemic and some of the uncertainties that were there globally are now all behind the industry. “There is no reason why the commercial vehicle industry should not grow," Mahadevan said.

Also check these Vehicles

Find more Cars
Mahindra Ekuv100 (HT Auto photo)
UPCOMING
BatteryCapacity Icon40 kWh Range Icon150 Km
₹ 8.25 - 10 Lakhs
Alert Me When Launched
Mahindra S204 (HT Auto photo)
UPCOMING
₹ 12 Lakhs
Alert Me When Launched
Lexus Ux 300e (HT Auto photo)
UPCOMING
BatteryCapacity Icon 54.3kWh Range Icon400 km
₹ 75 - 85 Lakhs
Alert Me When Launched
Hyundai Kona Electric 2024 (HT Auto photo)
UPCOMING
BatteryCapacity Icon64.8 kWh Range Icon418 Km
₹ 25 Lakhs
Alert Me When Launched
Maruti Suzuki Xl5 (HT Auto photo)
UPCOMING
Engine Icon998 cc FuelType IconPetrol
₹ 5 Lakhs
Alert Me When Launched
Tata Sierra Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon69 kWh Range Icon420 Km
₹ 25 - 30 Lakhs
Alert Me When Launched

While addressing the query whether the worst is behind the commercial vehicle industry, which saw its sales dip in the last few years on account of regulatory changes and low offtake during the pandemic, Mahadevan said that the industry will grow with trucks and buses expected to do well. "Truck sales will improve as many industries would require more units as they are running at full capacity," he said.

Also Read : Switch Mobility unveils EiV12 electric bus with 300-km range

He added that with Covid scare now going down, and schools, colleges and offices opening up, it would lead to a rise in intercity and intracity travel, aiding the sale of buses. "E-commerce has grown...So, what's happening is that e-commerce will become a big driver, and last-mile delivery will become very, very important," Mahadevan said.

Speaking about exports, Mahadevan said that the company expects dispatches to grow in the current financial year compared to FY22, with the demand scenario improving across markets. During the last fiscal, the company shipped out around 11,000 units and expects to improve the tally in the current financial year.

Ashok Leyland hopes to further enhance its exports to SAARC, the Middle East and Africa, also expects better dispatches this year on account of an improved product range overall.

First Published Date: 31 Jul 2022, 13:12 PM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.