In a big boost to its bus business, leading commercial vehicle firm Ashok Leyland has secured orders from over 10 state transport undertakings to supply 3600 buses during this fiscal.
The orders come at a time the Medium and Heavy Commercial Vehicle (M&HCV) segment is reporting healthy growth and it will augur well for the company to further strengthen its leadership position in the bus segment.
Ashok Leyland is the leader in the M&HCV bus segment with a market share of about 36 per cent, up from 33 per cent Q1 of last year.
“We continue to maintain growth in the domestic M&HCV market and believe that the industry should post 15-20 per cent growth in the current financial year. Ashok Leyland will continue to expand its network, launch new products and introduce customer centric initiatives, which would help it maintain its lead. The focus on exports, defence, and after-market will continue,” said Vinod K Dasari, Managing Director Leyland.
Q1 of this fiscal saw M&HCV bus segment recording a modest growth of two per cent at 11,923 units. Meanwhile, Ashok Leyland is preparing to launch its new bus in the Intermediate Commercial Vehicle (ICV) segment this year.