Kolkata, July 4 (IANS) Ashok Leyland, the flagship of the Hinduja Group, is aiming to cross 35 per cent market share in India’s commercial vehicle market, a top company official said on Tuesday.
“Last year, our market share was around 33 per cent and we are targetting to cross 35 per cent in the current fiscal,” the company’s President (Global Trucks) Anuj Kathuria said here. He said the second largest commercial vehicle manufacturer is focusing on northern and eastern market to gain the two per cent market share.
Kathuria said there was a slowdown in sales in the commercial vehicles market in India in the April-June quarter as the demand came down in the last quarter by 30 per cent as compared with the corresponding quarter last year.
“The slowdown was due to transition to BS-IV but we have gained the market share from 29 per cent to 32 per cent,” Kathuria said.
Industry-wise, the 16 tonnes vehicle segment saw almost 50 per cent reduction in demand in the last quarter and post GST, the sales in the segment might pick up, he said.
Kathuria, however, said sales in the commercial vehicles market are not expected to be robust in the current quarter but it would be better than June quarter.
The market is expected to pick up in the second half of the current fiscal. The vehicle maker sold 28,495 units in the April-June quarter, down by nine per cent.
Speaking on the exports, he said the vehicle maker has been developing new markets in GCC countries, eastern and south SAARC countries, Asean region, east and west Africa.