By Priya Singh
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Updated On: 15-Jun-2023 12:26 PM
Ashok Leyland has added 10 more nations in West Africa and Southern Africa in the previous few years, bringing its truck and bus offerings to 38 countries.
Ashok Leyland has added 10 more nations in West Africa and Southern Africa in the previous few years, bringing its truck and bus offerings to 38 countries.
Ashok Leyland, the country's third-largest commercial vehicle manufacturer, intends to expand its portfolio in the rapidly expanding light commercial vehicle market. Shenu Aggarwal, MD and CEO of Ashok Leyland said that the business wants to enter the sub-two-tonne area and expand its position in the 2-3.5 tonne category. Its sub-two-tonne truck will compete with the Tata Intra and Mahindra Bolero pick-up trucks.
The company intends to increase its market share in the 2-3.5 tonne segment to 25% and to debut an electric vehicle in FY24. The company has not mentioned a debut date for the sub-two-tonne vehicle.
Ashok Leyland catered to only 50% of the light commercial vehicle market at the end of FY23; this will climb to 60% by the end of FY25 and to 80% by the end of 2025.
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The 5.5 lakh unit light commercial vehicle market is divided into three divisions, with the 0-2 tonne category accounting for 35% of the LCV segment. The 2-3.5 tonne sector accounts for 59% of the LCV market with annual volumes of 3.28 lakh units, and the 3.5-7.5 tonne segment accounts for 6% of the LCV market with 34,000 units sold in FY23.
Ashok Leyland has added 10 more nations in West Africa and Southern Africa in the previous few years, bringing its truck and bus offerings to 38 countries. In the coming years, the country hopes to grow to 50 nations, doubling its potential market.
To offer competitive products with minimal import duties, the company has nine overseas assembly facilities - Morocco, Ghana, Kenya, Senegal, Nigeria, UAE, Ukraine, Sri Lanka, and Bangladesh.
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