Ashok Leyland Targets Market Share Gains as CV Sector Eyes Modest Recovery In FY26

New Delhi, June 24 — India’s medium and heavy commercial vehicles (M&HCV) segment is poised for a single-digit growth rebound in FY26 after a 3% decline last fiscal, with Ashok Leyland setting its sights on outpacing the industry and expanding its footprint in North India.

Sanjeev Kumar, President of M&HCV at Ashok Leyland Ltd, stated that the company is focused on growing ahead of the overall industry, leveraging tailwinds such as government-led infrastructure development and strong performance by core sectors.

“Last year, industry volumes declined by 3%. Historically, the CV industry performs well for about three years before hitting a downcycle. We now expect a turnaround, with at least single-digit growth this year,” Kumar said while addressing the media in New Delhi.

Growth Strategy Anchored in Northern Expansion

Kumar emphasised the strategic importance of North India, which contributes over a third of the national CV sales. To strengthen its hold in the region, Ashok Leyland plans to boost its network with more than 50 new touchpoints in FY26 and add 300 channel outlets.

“We want North India’s contribution to our sales to reach at least 30%. It is currently below that mark. Expanding our footprint here is a priority,” Kumar added.

Ashok Leyland has acquired almost 6.5% of the market share in three years and intends to outperform competitors through an expanded presence in high-growth markets.

Industry Outlook Positive Amid Policy Tailwinds

Sustained infrastructure spending and growth in relevant industrial segments support the CV sector’s expected recovery. The above macroeconomic factors will likely lead to more stable overall volumetric demand upon the exit of FY25, which will help support long-term volume trends.

The departing OEMs will be outpacing industry-wide volumetric growth. At the same time, Ashok Leyland’s focus on regionally expanding its presence and dealer network will allow it to increase growth more rapidly than competitors in FY26.

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