Ashok Leyland aims at single-digit growth in MHCV segment

Leading vehicle manufacturer Ashok Leyland is aiming at single-digit growth in the medium and heavy commercial vehicle (MHCV) business in the current financial year, a senior company official said.

President (MHCV), Ashok Leyland, Sanjeev Kumar said that the company has a market share of around 30% in this segment and is the number two player in this category.

"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 (CV) 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.

In the passenger vehicle category within MHCV, the company is a market leader in the bus segment with 40% market share in the country.

Kumar said that the company is working on alternative fuels like LNG and hydrogen. "Infrastructure support is important to support growth in the number of vehicles running on alternative fuels", he said.

According to him, the subsidy is given by the government to run electric buses.

"But since there are no similar subsidies for trucks, it is not a commercially viable proposition for electric versions of these vehicles", he said.