Ashok Leyland Targets Single-Digit Growth in MHCV Sector Amid Economic Recovery

Leading vehicle manufacturer Ashok Leyland aims for single-digit growth in the medium and heavy commercial vehicle (MHCV) sector this fiscal year. With a current market share of around 30%, the company is the second-largest player in this category. They are focusing on alternative fuels and need government subsidies for electric trucks.

Leading vehicle manufacturer Ashok Leyland is targeting single-digit growth in the medium and heavy commercial vehicle (MHCV) sector for the current financial year, according to a senior company official.

Sanjeev Kumar, President of MHCV at Ashok Leyland, highlighted that the company holds a market share of approximately 30% in this segment, making it the second-largest player in the category.

"We are aiming at single-digit growth in the MHCV category for the current financial year. With the economy picking up, we are anticipating a robust commercial vehicle market," Kumar stated.

Kumar pointed out that the eastern region remains a key market for Ashok Leyland, with a 25% market share. The MHCV segment accounts for around 60% of the company’s overall revenue.

In the MHCV passenger vehicle segment, the company is a market leader in the bus category, holding a 40% market share nationwide.

The company is exploring alternative fuels like LNG and hydrogen. "Infrastructure support is crucial to support growth in the number of vehicles running on alternative fuels," Kumar explained.

He noted that government subsidies are available for electric buses but not for trucks, making electric trucks commercially non-viable.