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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Pune-headquartered Force Motors has signed a Memorandum of Understanding (MoU) with the Ministry of Road Transport & Highways (MoRTH) to participate in the Commercial Vehicle Replacement Scheme for the Delhi-NCR region.

The scheme facilitates the replacement of BS-IV and older trucks and buses in Delhi-NCR with BS-VI or electric vehicles to lower emissions. Under the agreement, Force Motors will provide benefits to customers through its dealership network in the region.

Prasan Firodia, Managing Director, Force Motors, said, "Force Motors is pleased to partner with the Government of India in this important initiative to modernise the commercial vehicle fleet in the Delhi-NCR region. The scheme aligns with our commitment to delivering cleaner, more efficient mobility solutions. We look forward to enabling fleet operators and customers to transition to the latest generation of commercial vehicles through this collaborative initiative."

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Chennai-headquartered automotive major Ashok Leyland has inaugurated a new dealership for Light Commercial Vehicles (LCVs) in Ratnagiri. This facility is the 16th LCV dealership in Maharashtra, adding to a distribution network of 950 touchpoints across India.

The new dealership is operated by Lavekar Motors as a 3S (Sales, Service and Spares) facility, which features 8 service bays and is located near Mahanagar CNG Pump.

Viplav Shah, Head – LCV Business, Ashok Leyland Ltd. said, “Maharashtra has always been an important market for us, and we are excited to further strengthen our presence in this region. Our relationship with customers is built on trust, performance, and shared growth. Our products are known for their superior mileage, reliability, and performance with a robust network and an industry-leading service retention, we take pride in the continued confidence our customers place in us. The opening of this new dealership marks yet another step in our commitment to delivering world-class products and unmatched services to our valued customers.”

Till date, Ashok Leyland has sold over 600,000 LCVs in India, which are manufactured at the Hosur plant.

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US-headquartered electronic systems and technology company for commercial vehicles, buses, coaches, and off-highway equipment, Stoneridge, has announced its participation in IAA Transportation 2026.

The company is set to exhibit the EVO ECU platform, an electronic control unit designed to support the transition to software-defined vehicles (SDVs). The unit provides processing capability and connectivity, intended to manage vehicle complexity while reducing integration efforts and system costs.

Natalia Noblet, President and CEO, Stoneridge, said, “IAA Transportation will provide our first opportunity to showcase the significant advancements we have invested in to support our customers’ evolving needs. Our investments in engineering, software development, and customer-focused innovation are enabling us to deliver solutions that improve safety, simplify vehicle integration and increase operational efficiency.”

Stoneridge will also feature its Innovation Truck, a demonstrator vehicle equipped with an integrated vision solution and connected tractor and trailer technologies. The display follows the MirrorEye Camera Monitor System, for which the company has produced over 150,000 units. The demonstrator serves to show the integration of the company's technology portfolio for driver awareness and fleet operations.

Christian Leblanc, Global Vice-President of Product and Project Management, Stoneridge, said, “Vehicle architectures are evolving rapidly as manufacturers seek greater functionality, flexibility, and efficiency. EVO ECU has been designed to address these challenges by providing a high-performance platform that simplifies integration while enabling future expansion for emerging safety, security, and connectivity applications. Equally as importantly, the platform has been designed with commercial vehicle manufacturers in mind. It provides the scalability required to support future innovations while helping customers reduce complexity throughout sourcing, validation, and deployment.”

Stoneridge employs approximately 3,200 people. Its European operations include offices and technology centres in Sweden, the Netherlands, Estonia, France and the United Kingdom.

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New Holland, a brand of CNH Group, has expanded its farm mechanisation portfolio in India with the launch of its new HD and XHD Series Rotary Tillers (Rotavators). The new range is manufactured at the company’s facility in Pune.

The equipment is designed for diverse soil types and agro-climatic zones, aiming to improve soil preparation, productivity, and field performance. A high swing diameter facilitates deeper tillage, improving seed-to-soil contact. The heavy-duty multi-speed gearbox allows farmers to adjust operations based on specific soil conditions, which the company states helps optimise fuel use and save time. The units incorporate Metal Twin-Faced (MTF) seals to protect the rotor hub from water ingress, and utilise DTM paint technology for corrosion resistance.

Tarun Khanna, Director Marketing (AG) India, New Holland, said, "Farm mechanisation is increasingly becoming a key driver of agricultural productivity and efficiency in India. As farmers look for equipment that can deliver superior performance, durability and operational efficiency, the demand for reliable mechanisation solutions continues to grow. The launch of our HD and XHD Series Rotary Tillers reinforces New Holland's commitment to supporting Indian farmers with advanced implements that are engineered for demanding field conditions and designed to enhance productivity."

Following the national unveiling at the company's Greater Noida facility, New Holland plans to introduce the range through a series of dealer-level launches across India. This release is part of the brand’s broader strategy to offer a comprehensive suite of agricultural implements to support modern farming practices.

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