Moneycontrol Bureau
Commercial Vehicle maker Ashok Leyland on Thursday launched two new light commercial vehicles (LCVs) -- PARTNER truck and MiTR bus, an LCV bus, the latest offering from the Ashok Leyland-Nissan JV stable.
Also Read: Ashok Leyland posts Rs 167cr loss in Q3
The company said it is taking efforts to expand exports and is looking to increase its footprint in the LCV segment. “The new launches will help fill the gap in product portfolio,” said V Sumantran, Vice-Chairman, Ashok Leyland.
Speaking to CNBC-TV 18, Sumantran said: “Even in tough times we have learnt that one has to keep continue to investing for the future and in this industry a lot of emphasis is on having the right product addressing the right customer.”
The company, in October 2013, had launched a multi purpose vehicle (MPV) 'Stile', with price starting at Rs 7.49 lakh to Rs 9.29 lakh (ex-showroom Delhi).
Earlier this month, the commercial vehicle maker had unveiled its plans to launch up to 18 different types of trucks this year under its new brand for commercial vehicles, ‘Captain’.
The company, which on January 6 unveiled the tipper model Captain 2523, priced Rs 24 lakh upwards, said it was increasing the prices of the existing small trucks by up to Rs 30,000 this month.
Ashok Leyland posted a net loss of Rs 167 crore against a profit of Rs 74.2 crore (Y-o-Y) in its third quarter due to very low volumes, high discounts and high interest and depreciation cost. The total income of the company stood at Rs 1,953.2 crore against Rs 2,380 crore on a year-on-year basis.
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