Ashok Leyland kicked off FY25 with a bang, delivering record quarterly performance across key metrics. Revenue surged 5 percent to INR 85.99 billion, eclipsing the previous high of INR 81.89 billion set in the same period last year.

The company's commercial vehicle (CV) sales volume climbed to a record 43,893 units, outpacing the industry's overall 10 percent growth. This translated to a market share of 31 percent, with particular strength in the bus segment where it gained 5.8 percentage points. The light commercial vehicle (LCV) segment also saw gains, with market share rising to 20.3 percent.

EBITDA expanded 11 percent to INR 9.11 billion, while profit before tax (PBT) jumped 12.8 percent to INR 7.1 billion. However, profit after tax (PAT) declined 9 percent due to a one-time tax benefit in the prior year. Excluding this item, PAT would have significantly outperformed the previous year.

Standalone financials mirrored the overall positive trend, with revenue up 5 percent and PBT up 13 percent. Consolidated numbers were equally impressive, showing volume growth of 11 percent and PBT up 13 percent.

Ashok Leyland's vision to become a top-10 global CV player is gaining traction, as evidenced by its robust financial performance and market share gains. New product launches including the 14-tonne electric vehicle, and several other models, contributed to the strong performance. 

Commenting on the same, Executive Chairman Dheeraj Hinduja said, “Ashok Leyland has reported a stellar performance in Q1FY25, defying initial market pessimism. Despite widespread concerns about a potential downturn in the CV industry due to elections and other factors, the company has not only met but exceeded expectations. The MHCV segment, which was anticipated to contract, saw a robust 10 percent growth, bringing volumes close to the previous peak in Q1FY19. Ashok Leyland's market share in this segment remained steady at around 31%.”

“While the LCV industry stagnated, the company managed to outpace the market, increasing its market share. Domestic LCV volumes grew by 4 percent to 15,345 units. Overall, Ashok Leyland's CV volumes reached an all-time high of 43,893 units, a 6 percent increase YoY,” he added. 

Ashok Leyland has outlined its plans to further strengthen its market position through new product launches and enhanced after-sales service. The company is confident of increasing market share in both trucks and buses, while maintaining a strong focus on profitability.

The electric vehicle (EV) segment is also gaining traction, with the successful launch of the IeV-4 and IeV-3 models. “Our electric vehicle subsidiaries, Switch and OHM, are making significant progress. The launch of our first electric LCV, the IeV-4, has been met with an overwhelmingly positive response from customers,” averred Hinduja. 

The company's optimistic outlook is underpinned by favourable macroeconomic conditions and the recent supportive budget.

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Mumbai-headquartered commercial vehicle major Tata Motors has launched its all-new 9-seater Tata Winger Plus at INR 2.06 million.

The Winger Plus is aimed at customers looking to offer a premium mobility experience for staff transportation and growing tourist demands. It features such as reclining captain seats with adjustable armrests, personal USB charging points, individual AC vents and spacious leg room. Built on a monocoque chassis, it comes with wide cabin and large luggage compartment, at the same time providing car-like ride and handling, along with robust safety.

Anand S, Vice-President and Head – Commercial Passenger Vehicle Business, Tata Motors, said, “The Winger Plus has been thoughtfully engineered to deliver a premium experience for passengers and a compelling value proposition for fleet operators. With its superior ride comfort, best-in-class comfort features, and segment-leading efficiency, it is designed to drive profitability while offering the lowest cost of ownership. India’s passenger mobility landscape is evolving rapidly—from staff transportation in urban centres to the rising demand for tourism across the country. The Winger Plus is built to serve this diversity, setting new benchmarks in the commercial passenger vehicle segment.”

The Winger Plus is powered by a 2.2L Dicor diesel engine, which produces 100hp of power and 200Nm of torque. It is equipped with Tata Motors’ Fleet Edge connected vehicle platform that provides real-time vehicle tracking, diagnostics and fleet optimisation.

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Switch Mobility, a subsidiary of the Hinduja Group and a leading manufacturer of electric vehicles, has commenced delivery of its Switch EIV12 low-floor electric buses to the Department of Transport, Delhi. The buses are part of a landmark 950-unit order awarded under the CESL tender and were officially flagged off by Delhi Chief Minister Rekha Gupta.

The deployment marks a significant step in Delhi's transition toward sustainable urban mobility. Manufactured at Switch’s facility in India, the buses are a testament to the company's ‘Make in India for the World’ vision, combining global technology with local manufacturing.

Designed for Delhi’s demanding urban transit, the 12-metre buses can accommodate 39 passengers and are equipped with advanced safety and convenience features, including a wheelchair ramp, CCTV cameras, panic buttons and GPS tracking.

R G Venkataraman, Chief Commercial Officer, Switch Mobility, “We are delighted to commence delivery of our SWITCH EiV12 electric buses to Delhi, reinforcing the capital’s leadership position in sustainable urban transportation. These low floor electric city buses, engineered with advanced global technology and manufactured with pride in India, will significantly enhance Delhi’s public transport ecosystem while contributing to cleaner air and improved quality of life for millions of commuters. This deployment underscores our commitment to empowering Indian cities with intelligent, efficient and eco-friendly transportation solutions that drive progress towards a more sustainable future.”

The new buses utilise the company’s proprietary telematics system, Switch iON, for real-time monitoring and efficient fleet management. Additionally, they feature a streamlined, ultra-low-floor design for easy boarding and are equipped with a fire detection and suppression system for enhanced safety. This rollout aligns with the Delhi Government's aim to have the highest number of electric buses in India, with the potential to reduce CO2 emissions and provide safer commutes for millions of daily passengers.

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Piaggio Vehicles (PVPL), a subsidiary of the Piaggio Group and leading manufacturer of small commercial vehicles, has partnered Hinduja Leyland Finance.

The partnership aims to provide Piaggio Vehicles’ customers access to retail finance options on its three-wheeler range, including electric and Internal Combustion Engine (ICE) vehicles in India.

Diego Graffi, Chairman and Managing Director, Piaggio Vehicles, said, “India’s mobility landscape is evolving rapidly. From small entrepreneurs to fleet operators, a new class of owners is emerging, and they need financing that understands their realities. With this partnership, Piaggio and Hinduja Leyland Finance are bringing together the strength of two trusted brands to make vehicle ownership simpler, faster, and more accessible. Together this partnership can enable progress, powered by mobility that people can truly call their own.”

Sachin Pillai, Managing Director & Chief Executive Officer, Hinduja Leyland Finance, said, “This partnership brings together our expertise in vehicle financing and Piaggio’s presence in the three-wheeler segment to help customers acquire and manage their vehicles efficiently. Leveraging our extensive network and reach across India, Hinduja Leyland Finance aims to provide solutions that support last mile connectivity, asset ownership, and income generation for customers across the segment. By combining our financing reach and agility with Piaggio’s product offerings, we are making the 3-wheeler ownership more accessible for the customers through a customised financing process”. 

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Ashok Leyland, the flagship company of the Hinduja Group, has opened a new 3S dealership for light commercial vehicles (LCVs) in Agra, marking its fifth LCV dealership in Western Uttar Pradesh. Operated by channel partner Maya Autotech, the new dealership is equipped with advanced tools and quick-service bays to provide a superior customer experience. It will offer Ashok Leyland's full range of LCVs, including the Bada Dost, Dost, Saathi, Partner and MiTR models.

It was just recently, the company entered the sub-2-tonne segment with the launch of the Ashok Leyland Saathi. Powered by a new-generation 45 hp engine, the Saathi features an industry-leading payload capacity of 1,120 kg and the largest loading area in its class.

On the other hand, the popular Bada Dost is available in five variants and is equipped with an 80 hp BS6 engine, offering high power, mileage, and payload capacity. The Dost range includes the Dost Xl and Dost+ XL, while the Partner is a fuel-efficient load carrier available in both 4-tyre and 6-tyre options. The MiTR bus, built on the same platform as the Partner, comes in staff and school bus variants.

Viplav Shah, Head of LCV Business at Ashok Leyland, said, “Uttar Pradesh has always been a key market for us, and we are delighted to deepen our presence here with the new dealership in Agra. Our journey with customers in this region has been shaped by trust, performance, and shared progress. The new dealership in Agra builds on the remarkable success of our Dost, Bada Dost and now the Saathi range, which continue to earn the trust of customers for their superior mileage, performance, and reliability. Our strong network and an exceptional service retention rate of nearly 70 percent reflect the deep confidence customers place in us. This dealership is another step forward in our commitment to deliver world-class products and unmatched service, ensuring an exceptional experience for every customer.”

Ashok Leyland’s LCVs were developed to meet the specific needs of Indian customers, combining modern technology with competitive pricing. The company has a significant presence in the segment, with over 550,000 LCVs currently operating across India.

All of these LCVs are manufactured at Ashok Leyland's state-of-the-art plant in Hosur. With a network of more than 1,700 exclusive outlets nationwide, the company aims to have an authorised service center every 75 km on major highways.

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