Ashok Leyland, a prominent vehicle manufacturer, is targeting single-digit growth in the medium and heavy commercial vehicle sector for the current fiscal year, according to a top executive of the company.
Sanjeev Kumar, President of Ashok Leyland, stated that the company holds approximately a 30% market share in this segment, positioning it as the second-leading entity in the industry.
"We are aiming at a single-digit growth in the MHCV category in the current financial year. With the economy picking up, we are expecting a robust commercial vehicle market", he said.
Kumar said the east has been a key and focus market for Ashok Leyland with a market share of 25%. The MHCV segment contributes to around 60% of the overall revenue of the company.
Within the MHCV passenger vehicle segment, the company holds a dominant position in the bus category, boasting a 40% market share nationally.
Kumar mentioned that the firm is actively pursuing alternative fuels such as LNG and hydrogen, emphasizing the necessity of infrastructure support to facilitate the expansion of vehicles operating on these alternative fuels.
He mentioned that the government provides subsidies for operating electric buses.
"However, as there are no comparable subsidies for trucks, the commercial viability of electric versions of these vehicles is not feasible," he said.
(With PTI Inputs)
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