Ashok Leyland, a leading commercial vehicle manufacturer, has reported a significant increase in enquiries from fleet operators as the segment experiences a consolidation phase. The company is optimistic about the business growth prospects in the medium and heavy commercial transport vehicles (MHCV) sector, now anticipating single-digit growth this fiscal year, compared to earlier expectations of flat growth, according to Mr. Sanjeev Kumar, President for MHCV at Ashok Leyland.
The company is currently hosting a two-day ‘Mini Expo’ in Navi Mumbai, where it is showcasing its diverse portfolio, including trucks and buses in the MHCV segment. This segment includes multi-axle rigid trucks, haulage trucks, tippers, and trailers.
Mr. Kumar noted that the market dynamics are shifting, with a growing preference for fleet operators over retail customers, reversing the previous 40:60 ratio. “The market is consolidating, giving fleet operators a distinct advantage in terms of income, asset acquisition costs, and GST benefits,” he added.
Mr. Prakash Hinduja, Chairman of Hinduja Group, Europe, echoed this sentiment, stating, “Ashok Leyland is well-positioned to meet the evolving needs of fleet operators, and we are committed to driving innovation and efficiency in the commercial vehicle industry.”
About the Hinduja Group
The Hinduja Group is one of India’s premier diversified and transnational conglomerate. Employing about 200,000 employees, with a presence across 38 countries, it has a multi-billion-dollar revenue. The Group was founded over a hundred years ago by Shri PD Hinduja whose credo was “My duty (dharma) is to work so that I can give.” The Group owns businesses in Mobility, Digital Technology, Banking and Financial Services, Media, Project Development, Lubricants and Specialty Chemicals, Energy, Real Estate, Trading, and Healthcare. The Group also supports charitable and philanthropic activities across the world through the Hinduja Foundation.
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