Commercial vehicle manufacturer Ashok Leyand Ltd. (ALL) is planning to increase its market share in the intermediate commercial vehicle (ICV) segment from the current over 20% to 30%, according to a top official.
“We have been steadily gaining market share in the ICV segment for the past eight years and our brand, Boss, has been leading that growth,” said Anuj Kathuria, COO, Ashok Leyland.
“From a 6% market share in FY12, we are now selling over 20% of the ICVs in the Indian market,” he said. “The plan now is to take the market share to 30%.”
The company on Thursday rolled out the Boss LE and LX trucks with i-Gen6 BS VI technology. These two vehicles will address the 11.1 tonne to 14.05 tonne gross vehicle weight market.
“ICV is the fastest-growing segment. It has also been recovering from the COVID-19 impact due to demand from construction, mining and e-commerce segments,” he said.
“With the launch of these two trucks, we now have a complete portfolio. These new vehicles address a fast-growing segment that demands high uptime for long distances. The volumes are expected to pick up from October,” he added.
According to him, the new trucks come in multiple combinations such as loading span from 14 ft to 24 ft and different body types. The vehicles are priced from ₹18 lakh (ex-showroom Mumbai, New Delhi and Chennai). It is targetted at full range of sectors such as parcel and courier, poultry, white goods, agri-perishable, FMCG, auto parts, e-commerce, and reefer, among others.
“We have been on track with our plans, despite the challenging year we are all facing. ICVs are seeing a spurt in demand and this is the best time to introduce our proven I-Gen6 BS-VI technology in one of our best-selling brands in the portfolio,” said Vipin Sondhi, MD & CEO, Ashok Leyland.
Mr. Kathuria said that the company was planning to open 350-400 touch points during the current fiscal to take the total numbers to 3,500.
