Hinduja flagship commercial vehicle major Ashok Leyland (ALL)’s market share in domestic M&HCV segment has grown sequentially to 30.6% in Q4 FY22 from 25.3% in Q3, thanks to the slew of CNG product launches that kicked off good interest from the customers in the quarter.
The M&HCV truck volumes have grown almost 50% higher 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, Dheeraj Hinduja, executive chairman, Ashok Leyland (ALL), recently told an analysts earnings call.
The company’s market share has been 30% plus level during the last four-five years, barring the last two years, which witnessed a reduction owing to the outbreak of Covid pandemic. ALL officials said that ideally 30% plus is the norm where the company should be and what has helped to regain the market share is the addition of CNG products.
ICICI Securities in a research note said that ALL is well placed to benefit from the CV cycle recovery theme.