Ashok Leyland’s new LCV projects will hit the commercial space in the next two years; CV sales expected to be tripled by 2019-20
Indian major commercial vehicle manufacturer Ashok Leyland is preparing to roll out new light commercial vehicles (LCV). For that the company is ready to invest Rs. 400 crore on development of new vehicles. The new LCVs will be launched within next two years and the brand plans to triple its sales by 2019-20. Currently Ashok Leyland is rehiring a number of employees who had left the company earlier.
After parting ways with Japanese automaker Nissan, Ashok Leyland is now focusing to make for the lost time. In an attempt to do so, the CV manufacturer is focusing on the exports markets along with the domestic ground. talking about the company’s plan, Mr. Nitin Seth, Vice President of LCV and Defence, Ashok Leyland has said, for the medium term between 12 months to two years, the company has allocated fresh fund of Rs. 400 crore on product development.
Also read: Ashok Leyland Showcased Four Advanced Products at Defexpo 2016
Speaking about the new products, they will be built on two new platforms, which will be capable to underpin several different models and that too, in different configurations like right hand drive and left hand drive powered by different powertrain options. The company couldn’t develop its own LCV nor it was allowed to export due to its 8 year long partnership with Nissan, which ended in last September.
Currently the commercial and defence vehicle manufacturer faces two strong competitors, who are the Mahindra & Mahindra and Tata Motors. Despite tough competition, the Chennai-based CV maker is hoping to become a significant player in the LCV segment. It aims to sell one lakh units of LCVs annually by the end of 2019-20.
Also read: Eicher AMT Trucks and Buses Launched in India
Currently Ashok Leyland sales around 35,000-36,000 units every year and the company believes it can achieve the target to triple its current sales figure with its capable infrastructure and workforce. Apart from the domestic market, the new LCVs will be targeting the overseas markets like Indonesia, Malaysia, Africa, Gulf countries and SAARC countries as well.