Ashok Leyland share price traded lowering early trading on Tuesday after the company reported weak sales for the month of December 2023. The commercial vehicle (CV) manufacturer Ashok Leyland registered a 10% drop in total sales during December 2023 at 16,324 units as against 18,138 vehicles sold in December 2022. The company’s sales in the domestic market stood at 15,323 units, down 10% from 17,112 units in the same month of the previous year.
The Medium and Heavy Commercial Vehicles (M&HCV) segment, including trucks and buses, experienced a notable decline of 12%, totalling 10,800 units, down from 12,262 units year-over-year.
Breaking down the M&HCV category, the sales of trucks within this segment were reported at 8,379 units, showing a significant 17% decrease from 10,069 units in December 2022. However, M&HCV buses saw an uptick with a 30% increase, reaching 1,723 units compared to 1,330 units in the same period last year. The overall M&HCV category faced an 11% decline, totalling 10,102 units.
The company faces the challenge of navigating a market with shifting demands and economic uncertainties, and the sales performance in December is indicative of the broader trends affecting the commercial vehicle industry. Ashok Leyland will likely strategize to adapt to market conditions and work towards a recovery in the coming months.
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