The Chennai-based company aims to outpace the industry this year, concentrating on enhancing its presence in North India, the largest market for commercial vehicles (CVs), according to Sanjeev Kumar, President – M&HCV at Ashok Leyland Ltd, during a press briefing.
“When analyzing last year, the industry’s volume decreased by 3%. Our understanding is that this marks the fourth consecutive year of decline.
“In the CV sector, trends typically indicate a period of growth lasting about three years before entering a downturn. Therefore, we anticipate the industry to see at least single-digit growth,” he noted when discussing the industry outlook.
The anticipated growth in the industry is expected to be driven by government investments in infrastructure alongside support from robust performance in core industries, Kumar added.
Regarding the company’s growth potential, he mentioned that each original equipment manufacturer (OEM) seeks to surpass overall industry growth, and “this is true for Ashok Leyland as we aim to boost our market share.”
Highlighting the importance of the North Indian market, he noted it is the largest segment in the CV sector, accounting for over a third of total industry volume.
“We aspire for the North (market) contribution to reach at least 30%. Currently, its contribution is somewhat low…,” Kumar remarked.
Additionally, he stated, “We have gained nearly 6.5% market share over the past three years… We remain committed to enhancing our presence in Northern India.”
As part of its expansion efforts in this market, Ashok Leyland plans to add over 50 touchpoints this year.
The company currently operates almost 300 channel outlets throughout the region.
(Edited by : Vivek Dubey)
