Ashok Leyland Ltd. (ALL), has regained ‘the top position’ in India’s medium and heavy commercial vehicle (MHCV) buses space and is confident of raising its market share in trucks and buses, said ALL’s EC Dheeraj Hinduja on an analysts call.
“While we had a few challenges initially, our Q4 market share growth and April growth reflects a positive momentum in the MHCV truck. We are confident of increasing our market share in both the trucks and bus segments,” Mr. Hinduja said.
He said, ALL ranks second in the 2-3.5 ton small commercial vehicle (SCV) segment with a market share of more than 20%. The company plans to roll out six new product to further boost its market share n the current fiscal.
Currently, ALL caters to about half the light commercial vehicle (LCV) market in India and plans to expand this to a product portfolio to cover at least 70-80% of the market in the next few years.
“LCV presents a huge potential for us to grow our CV volumes. Our market share and CV exports out of India has improved significantly in the last two years,” Mr. Hinduja added.
Despite subdued market conditions in SAARC and in parts of Africa, ALL grew export volumes and is expecting volume expansion in its international operations, he said.
On alternative fuel vehicles, Mr. Hinduja said the first battery electric Boss ICV was launched in Q4 FY24. A 55-ton electric tractor trailer is also ready and the first unit will be delivered within months.
FY25 capex would range between ₹500-700 crore, said CEO Shenu Agarwal.
Published - June 04, 2024 10:30 pm IST
