Ashok Leyland to hike prices of commercial vehicles soon

The Hinduja Group company has said that it is considering hiking the prices of its products before March due to rising commodity prices

The Hinduja Group-promoted Ashok Leyland Ltd on Wednesday said that it would hike prices of its commercial vehicles (CVs) shortly due to rising input costs, reports PTI.

"Commodity prices are going up and we are already considering hiking the prices of our products. It will happen shortly, before March," Ashok Leyland's managing director R Seshasayee told reporters in New Delhi at the 10th Auto Expo.

He, however, said that there has been a surge in demand for CVs in the last two quarters and the company expects to close this fiscal at a total sales of about 62,000-63,000 units.

When asked about the sales prospects for the next fiscal, he said, "It (growth) should be in double digits."

Mr Seshasayee also said that the government must not withdraw the stimulus package provided by it in the wake of the economic downturn.

He said excise duty reduction, especially in the CV segment, should not be treated as stimulus. The government has cut excise duty on CVs to 8% in phases to spur growth.

"The CV (segment) deserves lower excise duty, therefore that must continue," he said.

Ashok Leyland also said that it would execute orders received from 21 state transport bodies for supply of buses by 31st March this year under the Jawaharlal Nehru National Urban Renewable Mission. Of the 11,000 orders placed by different state bodies, the company got 51% orders.
 

  • Like this story? Get our top stories by email.

    User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)