The average age of the CV fleet, which has surged to a record high of 10 years, is likely to fuel healthy replacement demand, albeit a few quarters away
The new light commercial vehicle dealership -- Sunil MotoCorp -- is the 8th 3S (sales, service and spares) facility in Chhindwara, Madhya Pradesh and offers a range of LCV products including BADA DOST, DOST, PARTNER AND MiTR.
Within the M&HCV growth momentum, Ashok Leyland is seeing strong demand growth from higher tonnage vehicles driven by better unit economics of these vehicles.
When queried if the company foresees any impact on margins with more LCVs, Ashok Leyland Chairman Dheeraj Hinduja said that he expects the same type of margins in light trucks as the company sees in M&HCVs
The company is hoping to maintain its 30 percent market share this year and grow to about 35 percent going forward
Agarwal further said that the company sticks to the forecast of MHCV industry growth of 8-9% in FY24.
To launch two e-LCVs in the fourth quarter of this fiscal; the firm is yet to find a strategic partner for its EV division.