Ashok Leyland Posts 5% Rise in March 2026 Sales as Bus Segment Contracts

Ashok Leyland sold 25,381 commercial vehicles, domestic and exports combined in March 2026, a 5% increase over 24,060 units in March 2025, according to a regulatory filing. The figure fell short of analyst estimates of 27,500 units, with weakness in the bus segment offsetting gains in trucks and light commercial vehicles.

Domestic sales for the month stood at 23,743 units, up 5% from 22,510 units a year earlier. Within this, domestic M&HCV volumes were broadly flat at 16,238 units, as truck sales rose 10% year-on-year to 14,138 units but bus sales contracted 34% to 2,100 units. Including exports, total M&HCV volumes reached 17,518 units, down from 16,901 units last year, reflecting the sharp bus decline.

The Light Commercial Vehicle segment continued to provide support. Domestic LCV sales grew 17% to 7,505 units from 6,428 units in March 2025, in line with estimates. Combined with exports, total LCV volumes reached 7,863 units, up 12% year-on-year.

Exports overall stood at 1,638 units, a 6% increase from 1,550 units in March 2025, matching expectations.

On a full-year basis for FY2025-26, Ashok Leyland’s total sales including exports reached 2,20,437 units, a 13% increase from 1,95,097 units in FY2024-25. Domestic volumes rose to 2,02,355 units, also up 13% year-on-year. Segmentally, M&HCV trucks grew 14% to 1,09,977 units, buses expanded 12% to 32,681 units, and LCVs climbed 13% to 77,779 units, underscoring broad-based growth across the portfolio despite near-term pressures in the bus category.