Expect M&HCV industry to grow in single digit

New Delhi: The medium and heavy commercial vehicles segment in India is expected to grow in the single digit this fiscal, recovering from a decline of 3 per cent in FY25, a top official of Ashok Leyland said on Tuesday. The Chennai-based firm is planning to grow ahead of the industry this year and is focusing on expanding its presence in North India, the largest market for commercial vehicles (CVs), Sanjeev Kumar, President - M&HCV at Ashok Leyland Ltd, told reporters here.

"When you look at last year, the industry volume came down by 3 per cent. Our understanding is that this is the fourth year running. "If you look at the CV industry, generally it stays good for three years, and then it…goes through a downtrend. So we expect the industry to grow, at least in single digit," he said when asked about the industry outlook.

The industry growth is expected to be driven by the government investment in infrastructure and tailwinds such as the good performance of core industries, Kumar said. On the company's growth prospects, he said every original equipment manufacturer (OEM) tries to outpace the total industry growth, and "same is the case for Ashok Leyland and we want to increase our market share".