Ashok Leyland Q3: There might be a moderation in growth in Q4 because of the effect of the upcoming elections and the high base of last year. But the country is behaving differently and it may not be right to look at the history and project the future, the company said.
Ashok Leyland, a commercial vehicle manufacturer, reported a 7% decline in total vehicle sales, including exports, for January, amounting to 15,939 units. In the corresponding period of the previous year, the company had sold 17,200 units, as stated in a press release.
India’s auto sector is on a roll. While strong demand from buyers and new launches had boosted volumes, easing commodity prices enhanced margins for automakers in FY23. Better operating efficiency and price hikes have also augured well for them, experts say. Tata Motors and Mahindra & Mahindra were the top 2 automakers in terms of sales in FY23. Take a look at the other trends in Business Today magazine story