Ashok Leyland Shares Dip Over 3% Following Disappointing December Sales

Ashok Leyland witnessed a more than 3% decline in its share price on Tuesday, reacting to the company’s lackluster sales performance in December 2023. Shares of Ashok Leyland experienced a dip of 3.46%, settling at ₹179.65 each on the BSE.

The renowned commercial vehicle (CV) manufacturer reported a 10% decrease in total sales for December 2023, with figures totaling 16,324 units compared to 18,138 units in December 2022.

Domestically, the company’s sales amounted to 15,323 units, marking a 10% decrease from the 17,112 units recorded in the corresponding month of the previous year.

In the Medium and Heavy Commercial Vehicles (M&HCV) segment, sales experienced a 12% decline, totaling 10,800 units compared to 12,262 units year-on-year (YoY). Within the M&HCV category, truck sales decreased by 16% to 8,485 units in December 2023, down from 10,143 units in December 2022. However, bus sales bucked the trend, showing a 9% increase with 2,315 units sold, up from 2,119 units YoY.

Light Commercial Vehicles (LCV) sales for Ashok Leyland in December dropped by 6%, with 5,524 units sold compared to 5,876 units YoY.

Over the past three months, Ashok Leyland’s share price has only seen a modest gain of 2.4%, while the stock has shown a more substantial increase of 22% over the course of one year.

As of 10:55 am, Ashok Leyland shares were trading 2.61% lower at ₹181.25 on the BSE. Investors and market observers closely monitor the company’s performance, reflecting concerns about the recent dip in sales impacting its market position.

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