Hinduja group flagship firm Ashok Leyland expects the domestic commercial vehicles market to grow in single digit this fiscal as demand continues to be buoyant despite headwinds due to the West Asia war.
The diesel price hikes have had an impact on demand initially but have now stabilised, Ashok Leyland President MHCV, Sanjeev Kumar, told PTI here.
“First half growth will be better, but when it comes to the second half, because of the base effect, growth percentage is lower. Overall, it should be single-digit growth,” he said.
Kumar was responding to a query on the growth outlook for the ongoing fiscal for the commercial vehicles industry.
In the first two months of the fiscal, there were challenges, and then there was improved market sentiment in June, he added.
“Now we are again seeing some challenges. Having said that, overall we are optimistic…,” Kumar noted.
The overall expectation is that the market continues to be good, he said, adding, “we are hopeful that the second qu
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