As the Indian auto market has hit a rough patch since the start of 2013, the fortunes of major vehicle manufacturers has been impacted to a large extent. Whether it be passenger cars or light commercial vehicles, almost every segment has bore the brunt of current slowdown prevalent in the Indian auto market. Meanwhile, the stagnant economic situation did not brought cheer for commercial vehicle manufacturer, Ashok Leyland, which too suffered from a huge dip in sales. The company recently revealed its sales figures for each segment in which the demand plunged to a new low. In the first seven months of the current financial year, the total vehicle sales dropped by 21 per cent on comparing with the same period last year.
Talking about the segment wise results, Ashok Leyland recorded 18 per cent dip in medium and heavy commercial vehicle segment during October 2013 as compared to year-ago period. While in the light commercial segment the sales declined by 11 per cent in last month as opposed to October 2012. As told by the company officials in a statement, it sold 4093 medium and heavy commercial vehicles last month against year-ago performance of 4964 vehicles in October, thereby declining by 18 per cent. In the light commercial vehicle segment, Ashok Leyland maintains its presence with Dost and recently launched Stile model. During October 2013, Ashok Leyland sold 2710 units in the respective segment as opposed 3033 units sold in same period last year. Also to mention, the demand for medium and HCVs was down by 25 per cent in April-October time period this fiscal apart from the 12 per cent fall in LCV segment in the same period.
Talking about the total sales for Ashok Leyland in October 2013, the figures stood at 6803 units against last years statistics of 7997 units. With this, the company registered a decline by 15 per cent in October 2012 compared to same month last year. Taking cumulative sales into account, during the first seven months of 2013, Ashok Leyland sold 51644 vehicles compared with 65321 vehicles in April-October 2012, thereby showing a decline of 21 per cent.
However, industry experts are of a view that the company might perform well in the LCV segment in future as it recently launched Stile. Analysts are optimistic about the sales of Stile as it has got a powerful engine alongside an attractive price tag. Recently, Ashok Leyland announced that it is targeting to achieve the sales mark of 1000 units by the end of this fiscal. On this development, a company official was quoted as saying "Enquiries and bookings for the vehicle are very good and the company will sell at least 1000 vehicle before this financial year." With its Stile model, the auto maker is looking to target the taxi unions and fleet operators of the country.
