Ashok Leyland tanks 6% as truck sales fall 70% in August

Ashok-Leyland

 

Shares of Ashok Leyland cracked over 6 percent on September 4 after the company reported a fall of 70 percent in medium and heavy commercial vehicles (M&HCV ) truck sales in the domestic market in August 2019.

The company sold 3,336 units in August 2019 against 11,135 units a year ago.

Sales of M&HCV, including buses, fell by 63 percent in August, whereas total vehicle sales dropped by 50 percent.

Ashok-Leyland

The company said on September 3 that its heavy-duty trucks range had been upgraded to meet BS-VI emission norms, which come into force from April 1, 2020.

The company has become the first Indian original equipment manufacturer to meet BS-VI norms across its full range of heavy-duty trucks with a gross vehicle weight of 16.2 tonne and above, the Hinduja group flagship said in a statement.

Shares of Ashok Leyland were 4.67 percent down at Rs 62.30 on BSE at noon.

News Source: moneycontrol

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