Chennai- Ashok Leyland Ltd., a subsidiary of Hinduja Group Ltd, released its sales report for the month of July 2023, showcasing growth across various segments.
In the domestic segment, Ashok Leyland reported a significant increase in sales for Medium and Heavy Commercial Vehicles (M&HCV). M&HCV Trucks recorded sales reaching 7,834 units in July 2023 compared to 6,596 units in the same period last year, representing an 18% year-on-year (YoY) increase. Similarly, M&HCV Bus sales soared to 1,140 units, surging past the previous year's figure of 733 units, with YoY growth of 55%. The combined M&HCV segment witnessed a total of 8,974 units sold in July 2023, a significant increease from 7,329 units in July 2022, registering an 11% YoY increase.
The Light Commercial Vehicle (LCV) segment also displayed a steady performance, with sales of 5,233 units in July 2023 compared to 5,386 units in July 2022, showing a marginal 1% YoY decrease. The overall vehicle sales in the domestic market witnessed a growth totalling 14,207 units in July 2023 compared to 12,715 units in July 2022, representing a substantial YoY increase of 7%.
The exports segment of the M&HCV category, the company reported exports of 9,571 units, outperforming last year's figure of 8,148 units, with YoY growth of 17%. Additionally, M&HCV Bus exports reached 1,534 units, surpassing the previous year's figure of 1,205 units, a YoY increase of 27%. The overall exports of vehicles in July 2023 reached 15,068 units from 13,625 units in July 2022, representing a YoY increase of 11%.
Taking into account both domestic and exports sales, Ashok Leyland achieved a YoY growth of 8% in M&HCV sales, 3% in LCV sales, and a 6% increase in total vehicle sales.
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