Ashok Leyland sees strong CV growth in H2, says LNG has more potential than CNG
The commercial vehicle industry in India is growing at a healthy growth rate, and Ashok Leyland, the country’s second-largest M&HCV player is upbeat about seeing 8-10% industry growth for FY2024. The confidence is on the back of a smart uptick in Q2 FY2024, which was around 21% YoY, which helped overcome a bit of slowdown witnessed in Q1 on the back of pre-buying that happened in March. Interestingly, Dheeraj Hinduja, Executive Chairman, Ashok Leyland revealed that the company has got Board approval for investing Rs 1,200 crore in Switch Mobility.
