CNG products help Ashok Leyland reach 30.6% stake in M&HCV
Hinduja major commercial vehicle major Ashok Leyland The market share of (ALL) in the domestic M&HCV segment has grown to 30.6% sequentially in Q4 FY22 from 25.3% in Q3, thanks to the good customer interest CNG product launches in the quarter.
M&HCV truck volumes have grown by almost 50% more than the industry growth, resulting in the company’s market share reaching 30.6% in Q4 FY22 as compared to 28.9% in Q4 FY21, said Dheeraj Hinduja, Executive Chairman , Ashok Leyland (ALL), told an analysts earnings call recently.
The company’s market share has been more than 30% during the last four-five years, except for the last two years, which saw a decrease due to the outbreak of the COVID pandemic. All the executives said that ideally 30% plus is the criterion where the company should be and what has helped in gaining market share is the addition of CNG products.
ICICI Securities A research note states that everyone is well placed to benefit from the CV Cycle Recovery theme.