Ashok Leyland Sales Report March 2024: Records 135.66% growth in export Sales, Sells 945 Units

Key Highlights:

•    Ashok Leyland's March 2024 sales dropped by 10.26%.
•    Domestic commercial vehicle sales declined by 13%.
•    Export sales increased by 135.66%.
•    The M&HCV truck segment experiences a 16% drop.
•    A marginal growth in the LCV category, up by 2%.

Ashok Leyland, India's leading commercial vehicle manufacturer, reported a 10.26% decline in overall sales for March 2024, encompassing both domestic and export markets. The company sold a total of 19,518 units in March 2024, down from 21,74 units in March 2023.

Domestic Commercial Vehicle Sales Declined by 13%

In the domestic market, Ashok Leyland witnessed a 13% decrease in sales, with 18,573 commercial vehicles sold in March 2024, compared to 21,348 units in the same month last year.

Segment-wise Domestic Sales Performance (March 2024)

M&HCV Truck Segment: The Medium and Heavy Commercial Vehicle (M&HCV) truck category reported a sales drop of 18%, with 11,773 units sold in March 2024 compared to 14,399 units in March 2023.

LCV Category: The Light Commercial Vehicle (LCV) category saw a 2% dip, with 6,800 units sold in March 2024 compared to 6,949 units sold in the same month last year.

Exports Surge by 135.66%

On a positive note, the company experienced a remarkable 135.66% growth in export sales, with 945 units shipped in March 2024, up from 401 units in March 2023.

Segment-wise Export Sales Performance (March 2024)

Remarkable Growth in LCV Category: Ashok Leyland witnessed an impressive sales growth of 147.06% in the LCV category, with 504 units sold in March 2024, up from 204 units in March 2023.

Surge in M&HCV Category: Export sales in the M&HCV category experienced a growth in sales of 123.86%, with 441 units sold in March 2024, compared to 197 units in March 2023.

Also Read: Ashok Leyland Records 6% Drop in February Sales, Sells 16,451 Units

Segment-wise Gross CV Sales for March 2024

Mixed Performance: The company recorded a 10.26% decrease in Gross Commercial Vehicle Sales, including a 16% loss in M&HCV categories and a 2% growth in LCV.

Category-wise Breakdown: The M&HCV truck category contributed 12,214 CVs, down from 14,596 CVs in March 2023. For the LCV category, 7,304 CVs were sold in March 2024, compared to 7,153 CVs in March 2023.

CMV360 Says

Ashok Leyland's March 2024 sales dropped by 10.26%, mainly because of lower domestic sales. But there's good news too - exports surged by 135.66%, hitting 945 units. This shows the company's strength in global markets despite challenges closer to home.