Ashok Leyland, a leading commercial vehicle manufacturer, is targeting single-digit growth in the medium and heavy commercial vehicle (MHCV) segment in the financial year 2024-25. The company is optimistic about the industry’s prospects, driven by increasing demand for freight transportation and infrastructure development.
According to sources, Ashok Leyland is focusing on expanding its market share in the MHCV segment, which accounts for a significant portion of its revenue. The company is banking on its robust product lineup, including the recently launched AVTR range, to drive growth.
Industry experts believe that the MHCV segment is poised for growth, driven by factors such as increasing e-commerce demand, infrastructure development, and replacement of aging vehicles. Ashok Leyland is well-positioned to capitalize on this trend, given its strong brand presence and extensive dealership network.
The company’s growth strategy is also focused on increasing its penetration in the Tipper segment, which has seen significant growth in recent times. Ashok Leyland is targeting a market share of over 30% in the Tipper segment, driven by its popular models such as the AVTR 2825 and 3525.
While the company has not disclosed specific sales targets, sources indicate that Ashok Leyland is aiming for a growth rate of around 5-7% in the MHCV segment in FY25. This would be a significant improvement over the previous year, when the industry faced challenges due to the pandemic and supply chain disruptions.
