Ashok Leyland is targeting to achieve 30% market share in domestic commercial vehicles (CV) segment in the next three to four years with the help of new range of products. Moreover, the company that has been reporting losses for the past three quarter also expects to break even in the ongoing quarter while becoming profitable in the next financial year as it sees improvement in demand for its commercial vehicles.
Besides, the company is looking to expand its global footprints by entering new markets in Middle East, Africa, ASEAN region, East Europe, Russia and Latin America. It may also consider setting up assembly plants, most probably in Africa as part of its international expansion programme.
Recently, the company reported a drop of 26% in January sales at 7,847 vehicles, as against 10,561 sold in same month year ago. In January 2014, the sales of its Large Commercial Vehicle (LCV) products witnessed a fall of 37% to 2,317 units from 3,698 units sold in the same month of last year.
