Commercial Vehicle manufacturer Ashok Leyland has bagged orders for 3,600 buses from various State Transport Undertakings (STUs), helping it to improve its position in the buses market.
The company is expecting to maintain growth in the domestic medium and heavy commercial vehicle (M&HCV) market during the year, said Vinod K Dasari, managing director, Ashok Leyland Ltd.
The company on Monday announced that it has bagged orders for nearly 3,600 buses from various STUs in the current financial year. These orders would be executed in the current financial year, which would help the company in furthering its leadership position in buses, said the company.
Dasari said: "We continue to maintain in thye domestic M&HCV market and belive that the industry should post 15-20 per cent growth in the current financial year".
He added that the company will continue to expand its network, launch new products, and introduce customer centric initiatives, which would help it to maintain its lead. The focus on exports, defence, and after market will continue, said Dasari.
The company added that it has posted a market share of 30.1 per cent in domestic trucks market, in the first quarter of this year compared to 29.2 per cent during same quarter last year. Market share for domestic buses has increased from 33.2 per cnt in first quarter of last year to 35.9 per cent during the first three months of this year, he added. Overall, the M&HCV volumes of Ashok Leyland has increased by 18.6 per cent as compared to industry growth of 14.5 per cent.