Ashok Leyland reports 40% decline in vehicle sales
Mumbai: India's second-largest commercial vehicle (CV) manufacturer, Ashok Leyland on Monday reported 39.9 per cent decline in total sales at 11,850 units in January. Commercial Vehicle sales is often considered to be a proxy for the industrial growth in the country.
Ashok Leyland had sold 19,741 units in comparable period last year according to its regulatory filing. The Chennai-based company said its total domestic vehicle sales stood at 10,850 units in January against 18,533 units in the same month a year ago, logging a 41.4 per cent decline.
In the medium and heavy commercial vehicles (M&HCV) segment the sales in the domestic market fell by 49.1 per cent at 6,949 units in January this year, against 13,663 units in January last year.
Light commercial vehicle sales last month stood at 3,901 units as compared to 4,870 units in January 2019, down 19.8 per cent.
Shares of Ashok Leyland were trading at Rs 76.95 a piece on BSE, down 0.06 per cent from the previous close.