Ashok Leyland, one of the major commercial vehicle manufacturers in India, has been on the order bagging spree in Financial Year 2016-17 in passenger commercial vehicle segment. According to the reports, the company has bagged several orders from various State Transport Unions totaling up to 3,600 buses. It has also got some major defense solution orders from many African countries and other parts of the world.
Thrilled by the company’s performance, Mr. Vinod K Dasari, Managing Director, Ashok Leyland, said, “We continue to maintain growth in the domestic M&HCV market and believe that the industry should post 15% to 20% growth in the current financial year. Ashok Leyland will continue to expand its network, launch new products, and introduce customer centric initiatives which would help it to maintain its lead. The focus on exports, defence, and aftermarket continue.”
Speaking of its market performance, the company has grown its market share from 33.2 percent to 35.9 percent in domestic buses segment during first quarter of the current fiscal year. The overall growth for Ashok Leyland M&HCV segment is recorded as 18.6 percent compared to the industry’s 14.5 percent. Talking about the truck segment, it has grown to 30.1 percent from the 29.2 percent on YoY basis during Q1 of 2016-17.