Ashok Leyland Ltd. is India’s second largest commercial vehicle manufacturer. Due to the pandemic induced economic slowdown, it is witnessing intense plunge in sales of medium and heavy commercial vehicles. In the first half of this fiscal year, the manufacturer already had expectations to report single digit growth in sales in the other half.
Ashok Leyland on Wednesday declared an 81% fall in terms of total vehicle sales in June. The sales dropped at 2,394 units in the same period as against 12,810 units sold during the same period last month. The total domestic sales for the month of June were 2,132 units. However, it sold 12,085 units in the year-ago month, amounting to an 82% percent plunge.
93% reduction was seen in the medium and heavy commercial vehicle sales. It encountered 572 units sold in June in comparison to 7,780 units last year. While 2,132 light commercial vehicles were sold as against 12,085 vehicles in 2019, Marking a drop of 82%.
Ashok Leyland – The recovery in the automobile sector is still very uncertain due to the pandemic. The demand has drastically decreased due to low economic development and stagnation. It is inevitable to escape the uncertainties imposed upon the global business and industries by the coronavirus led Covid-19 pandemic. The countries all over the world are constantly battling to survive the huge economic loss caused by the Lockdown introduced to contain the virus.