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CNG products help Ashok Leyland reach 30.6% share in M&HCV

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.

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.

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