FY18-19 will go down as a landmark year in the history of Ashok Leyland (AL). After years of focused pursuit and progress, the CV maker has managed to accomplish its global vision during the financial year. Mr. Dheeraj G. Hinduja, AL Chairman, states in the company’s FY18-19 annual report: “With great pride, I would like to share that in 2018-19, Ashok Leyland has achieved its Vision to be among the global top 10 players in medium and heavy trucks and top 5 in buses. This is a significant achievement in the annals of our company considering the ever-changing market dynamics and increasing competitive pressures.”
The CV market in India posted a growth of 18% YoY in total industry volume (TIV), which was driven by 19% growth in LCVs and 15% in M&HCVs despite challenges caused by revision in axle load norms and the NBFC liquidity crisis. CV exports grew by 3% over last year driven by 27% growth in M&HCV trucks, with other segments showing a decline over the previous year.
Robust growth
In FY18-19, AL sold 131,936 M&HCVs in the domestic market (16,323 M&HCV buses and 115,613 M&HCV trucks), growing by 13.2% over the previous year. LCVs continued to register record sales of 54,508 vehicles, with a growth of 26% over the previous year. The company sold 12,301 vehicles in the export markets of Middle East, Africa and SAARC region. 21,859 engines were sold in industrial and marine applications registering a growth of 16.6% over last year.
This story is from the August 2019 edition of MOTORINDIA.
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This story is from the August 2019 edition of MOTORINDIA.
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