Business Daily from THE HINDU group of publications
Wednesday, Jan 07, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Jan 07, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Performance Marketing - Trends Ashok Leyland December sales down 63% Our Bureau Chennai, Jan. 6 Ashok Leyland sold 2,321 vehicles in December, which was 63.4 per cent lower than in December last year (6,340 vehicles). Sequentially, the company sales fell by 31.6 per cent in December over the previous month. In the April-December period, Ashok Leyland sold 43,657 vehicles, compared with 55,998 vehicles in the corresponding period of last year — a fall of 22 per cent. The downturn was most stark in domestic sales of goods carrying medium and heavy duty vehicles, which is regarded by some economists as an indicator of the health of the economy. Ashok Leyland sold 637 medium and heavy duty goods carriers in December, compared with 4,153 in the same month last year — a fall of 84.6 per cent. In November 2008, the company sold 1,950 of these vehicles. The only positive feature of December sales was exports. Ashok Leyland exported 424 medium and heavy duty cargo vehicles compared with 194 in December last year. However, it sold fewer buses — 458 against 638 — in the overseas markets. Company officials point to a few indicators for a better performance in the coming months. First, the Government has promised money to the State Transport Undertakings for purchase of new vehicles. On Monday, Ashok Leyland’s Managing Director, Mr R. Seshasayee, observed that some 30,000 buses with the various STUs needed replacement and the Government’s assistance would spur demand from this source. Second, there are reports that China has started buying iron ore from India again. Good news, because the absence of iron ore load contributed significantly to oversupply of load carrying capacity, leading on to lower freight. Leyland re-brands design, engineering services unit Ashok Leyland cuts production target for November Ashok Leyland net dips on interest costs, forex volatility More Stories on : Performance | Trends | HCV/LCV/Tractors
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