Key Points
India's commercial vehicle (CV) market may hit a new peak by the end of 2023-24 and continue to advance at a brisk pace next fiscal amid robust demand from construction, mining, and other segments, said Dheeraj Hinduja, executive chairman of Ashok Leyland..
After hitting a multi-year low in FY21 due to the pandemic, India's truck and bus market has been growing in the last couple of years..
Ashok Leyland posted a 181% year-on-year jump in net profit for the quarter ended September at 561 crore, riding on higher sales that rose 17% on year to 9,638 crore...
Cost-saving programmes helped, company officials said.. Commenting on the discounting trend in the truck market, Gopal Mahadevan, chief financial officer of Ashok Leyland, said net realisation has been improving in the industry..
"Industry is moving towards a better net realisation since the second half of last year," he said, attributing it to lower discounts, price increases, and strong demand from road construction and mining besides healthy industrial output...
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