Home Business News Today Ashok Leyland to deal with exports, LCVs for revival - Livemint

Ashok Leyland to deal with exports, LCVs for revival – Livemint

Home >Companies >News >Ashok Leyland to deal with exports, LCVs for revival

Ashok Leyland Ltd, India’s second largest business automobile producer, plans to deal with exports and light-weight business automobile or LCV class for revival of volumes and total enterprise, a senior firm government instructed Mint in a current interview.

“Exports might be a serious thrust space together with the LCVs over the mid-term,” Vipin Sondhi, managing director and chief government officer, Ashok Leyland mentioned, including that electrical buses and protection enterprise are promising verticals too.

With a stronger play within the medium and heavy business automobile or MHCV phase, Ashok Leyland’s volumes had been hit in FY20 as a result of influence of latest axle load norms together with the liquidity disaster and the ensuing financial slowdown by the 12 months.

The Chennai-based CV maker noticed it’s June quarter volumes crash 90% on the influence of the pandemic-induced lockdown and financial disaster. The home MHCV volumes have collapsed 97% to gross sales of solely 723 items throughout Q1FY21.

In the meantime, it has seen LCVs fetch gross sales of 2686 items, down 79% year-on-year through the June quarter. Intra-state transportation of products and final mile supply of necessities have saved LCVs in demand even through the robust months.

To financial institution upon the phase, the corporate is growing an all-new LCV platform, phoenix venture, which is anticipated to fill the gaps in Ashok Leyland’s product portfolio.

The phoenix venture might be launched in subsequent three months, Sondhi mentioned.

“You will need to intensify our presence within the geographies out of India. With the AVTR and Phoenix vary, we’d have the platforms to compete with the worldwide CV makers in worldwide markets,” Sondhi mentioned.

Ashok Leyland’s Phoenix and AVTR platforms will roll out business autos with left in addition to proper hand drive techniques. The corporate plans to deal with key export markets together with Center East, Africa and the CIS nations.

“This can be a 5-year plan and it’s important for us to remain invested over a 5 12 months interval as a result of we now have the product, we now have the distribution and we’ll add extra to that,” Sondhi mentioned.

Earlier in June, the corporate had launched its modular platform known as AVTR for BSVI compliant MHCV variants within the 18.5 ton to 55 ton vary. Whereas the brand new modular platform is anticipated to ship a excessive degree of truck customization, analysts say that it will allow the corporate keep leaner stock and obtain decrease manufacturing prices throughout a number of fashions as a consequence of elevated commonality of elements.

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