Financial Daily from THE HINDU group of publications
Wednesday, Jan 14, 2004
Marketing - Market Shares
Ashok Leyland targets 50% market share in 3-5 years
Mr M. Natraj, Executive Director-Product Development, Ashok Leyland, at the preview of the Newgen Truck Series in the Capital on Tuesday. - Ramesh Sharma
New Delhi , Jan. 13
WITH a range of new product roll-outs on the anvil, commercial vehicle major Ashok Leyland is targeting to increase its marketshare by about 15 percentage points in the next 3-5 years.
"Our market share should grow from about 35 per cent to 45-50 per cent in the next 3-5 years in the commercial vehicle segment. The growth will come from higher sales of medium and heavy commercial vehicles (M&HCV) for intra-city transport and small trucks, especially after the development of highways across the country," Mr M. Natraj, Executive Director (Product Development and Advanced Engineering), said.
Ashok Leyland is also doubling its investment on research and new product development to about 4 per cent of the turnover in three years to produce more modern vehicles.
The company today unveiled a high-capacity low-floor vestibule CNG bus and a CNG-powered minibus as well as a new-generation 260-horse power engine fitted tractor-trailer and a tipper (to be launched in 2005) to be showcased at the Auto Expo, which opens on January 15.
Ashok Leyland's new heavy vehicles codenamed `Newgen' would be powered by the 260-horse power `J' engine, which is being sourced from the Japan-based Hino Motors.
The vehicles meet European norms and are likely to be exported to countries other than in Western Europe.
The company is also preparing to export 3,300 trucks worth $46 million to Iraq besides exploring manufacturing or export tie-ups in Pakistan, Thailand and Indonesia.
According to Mr Natraj, Ashok Leyland would also launch more vehicles for the Indian Army.
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