Truck sales volume may remain flat in the current year
In July, the GST implementation caused a confusion. But from August the Truck sales volumes are picking up, said Anuj Kathuria, president, global trucks of Ashok Leyland Ltd.
Truck sales growth may remain flat or slide down slightly this year as implementation of BS-4 emission norms and Goods and Services Tax (GST) has hit the demand, according to Anuj Kathuria, president, global trucks of Ashok LeylandLtd.
“The volumes fell by 20% in April to July period compared with previous year though our company gained 3 % mostly from increase in sales in the northern zone,” he said.
The total annual volumes in the Indian market has remained stagnant at 3 lakh vehicles in the last two years.
“In July, the GST implementation caused a confusion. But from August the volumes are picking up. The growth could be positively influenced by good monsoon or other macro indicators,” said Kathuria, who was here to launch company’s new model in the intermediate commercial vehicle (ICV) segment.
Kathuria said Ashok Leyland has been able to improve its market share in the state in ICV segment from 31% to 41% in the last three years. The new model is expected to further strengthen its share in Kerala.
Out of the annual volumes of 5500 trucks in Kerala, about 40 to 45 % is in the ICV segment, he said.