By Priya Singh
4001 Views
Updated On: 03-Jun-2024 11:12 AM
Ashok Leyland's May '24 total sales experienced a 6.03% increase, with 12,219 units sold. Domestic and export sales increased by 4.49% and 65.64%, respectively.
Key Highlights:
• Ashok Leyland's May 2024 sales grew by 6.03%.
• Domestic commercial vehicle sales increased by 4.49%.
• Export sales increased by 65.64%.
• The Export M&HCV truck segment experiences a 51.72% growth.
• There is a growth of 11% in the domestic LCV category.
Ashok Leyland, India's leading commercial vehicle manufacturer, reported a 6.03% growth in overall sales for May 2024, encompassing domestic and export markets. The company sold 12,219 units in May 2024 compared to 11,524 units in May 2023.
Performance: The company recorded a 6.03% increase in Gross Commercial Vehicle Sales, including a 2% growth in the M&HCV category and a 12% growth in LCV.
Category-wise Breakdown: The M&HCV truck category sold 6,780 CVs, up from 6,660 in May 2023. For the LCV category, 5,439 CVs were sold in May 2024, compared to 4,864 in May 2023.
Category | May 2024 | May 2023 | YOY Growth % |
M&HCV | 6,648 | 6,573 | 1% |
LCV | 5,301 | 4,788 | 11% |
Total sales | 11,949 | 11,436 | 4.49% |
Domestic Commercial Vehicle Sales Grew by 4.49%
In the domestic market, Ashok Leyland witnessed a 4.49% increase in sales, with 11,949 commercial vehicles sold in May 2024, compared to 11,436 units in the same month last year.
Segment-wise Domestic Sales Performance (May 2024)
M&HCV Truck Segment: The Medium and Heavy Commercial Vehicle (M&HCV) truck category reported a growth of 1% in sales, with 6,648 units sold in May 2024 compared to 6,573 units in May 2023.
LCV Category: The Light Commercial Vehicle (LCV) category saw an 11% growth, with 5,301 units sold in May 2024 compared to 4,788 units sold in the same month last year.
Category | May 2024 | May 2023 | Growth % |
M&HCV | 132 | 87 | 51.72% |
LCV | 138 | 76 | 81.58% |
Total sales | 270 | 163 | 65.64% |
Export sales increased by 65.64%
On a positive note, the company experienced a remarkable 65.64% growth in export sales, with 270 units shipped in May 2024, up from 163 units in May 2023.
Segment-wise Export Sales Performance (May 2024)
Growth in LCV Category: Ashok Leyland witnessed a sales growth of 81.58% in the LCV category, with 138 units sold in May 2024, up from 76 units in May 2023.
Impressive growth in the M&HCV Category: Export sales in the M&HCV category experienced a rise of 51.72%, with 132 units sold in May 2024, compared to 87 units in May 2023.
The development comes as Ashok Leyland Ltd raises its capital expenditure (capex) expectations for fiscal 2025 (FY25) due to stronger-than-expected commercial vehicle demand.
Also Read: Ashok Leyland Sales Report April 2024: Records 94.12 % growth in export Sales, Sells 528 Units
CMV360 Says
The rise in sales for Ashok Leyland is quite promising. It indicates that more people are choosing to buy their trucks and vans, both in India and abroad.
This suggests that Ashok Leyland is excelling in producing vehicles that meet market demands. It's a positive signal for the company, highlighting its growth and commendable performance.