The country's second-largest commericial vehicle manufacturer Ashok Leyland on Thursday reported a 60 per cent drop in sales in November mirroring the slowdown in the industry.
The company's domestic sales for the month stood at 1788 units as against 5366 units in the same month last year. Like in the case of market leader Tata Motor's whose medium and heavy commercial vehicle sales declined at a higher clip of 60 per cent during the month, Ashok Leyland's M&HCV sales fell by 67 per cent.
The company's production for the month crashed by 79 per cent indicating its problems with high inventories. Overall sales for the April-November period are down by 17 per cent while domestic sales are down 19 per cent.
With no hopes of a revival in the near future despite indications of an imminent excise duty reduction on commercial vehicles soon, the company has already deferred its Rs 700-800 crore plans for capacity expansions while cutting its production and reducing the number of working days to only three days a week at its plant.
The company's domestic sales for the month stood at 1788 units as against 5366 units in the same month last year. Like in the case of market leader Tata Motor's whose medium and heavy commercial vehicle sales declined at a higher clip of 60 per cent during the month, Ashok Leyland's M&HCV sales fell by 67 per cent.
The company's production for the month crashed by 79 per cent indicating its problems with high inventories. Overall sales for the April-November period are down by 17 per cent while domestic sales are down 19 per cent.
With no hopes of a revival in the near future despite indications of an imminent excise duty reduction on commercial vehicles soon, the company has already deferred its Rs 700-800 crore plans for capacity expansions while cutting its production and reducing the number of working days to only three days a week at its plant.
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