Ashok Leyland Q4 net profit rises 16.73% at Rs 933.69 crore deccanherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deccanherald.com Daily Mail and Mail on Sunday newspapers.
The company expects to maintain its market share in the medium and heavy commercial vehicle segments and aims to reach 35% market share in the future. Ashok Leyland has seen growth in the bus segment, with a 65% increase, twice the industry growth. The company has also improved its market share from 28.2% to 33%. Additionally, Ashok Leyland is nearing market trials for fully electric 55-tonne AVTAR Tractor Trailers and plans to expand its dealer network to reach 1,000 dealers.
The investment of Rs 1,200 crore is assigned for strategic initiatives to drive innovation, technological advancements and overall business expansion, the heavy commercial vehicle maker said in a release.
Ashok Leyland: "What is critical for us is to create the right network outside of India, find appropriate distributors in markets where we are currently not present," he added. In the last 16 months, the company appointed 13 distributors in the African market with some of them having their own Assembly facility.
Ashok Leyland, the Hinduja group s flagship company, aims to be among the top 10 global commercial vehicle manufacturers in the near future. The company is focusing on exploring new markets and expanding its sales volume in India. Ashok Leyland has developed modular products like the Avtar to serve international markets.