Ashok Leyland Targets 30% Market Share in North India by 2028

Ashok Leyland, the Chennai-based commercial vehicle manufacturer and Indian flagship of the Hinduja Group, is targeting a 30% market share in the medium and heavy commercial vehicle (M&HCV) segment in north India by 2028.

“The idea is, at least in the next two to three years, we should definitely hit 30%. And we feel confident also,” said Sanjeev Kumar, President, M&HCV, Ashok Leyland.

Kumar said the northern region remains the largest contributor to the industry. “North continues to be the biggest contributor. As I mentioned, around 32% of the total industry volume (TIV) comes from the north, and that is where our focus is. We currently are at a market share of around 26% in the north. When I talk about north, I am referring to all the states up to Uttar Pradesh and Rajasthan,” he said.

He added, "If Ashok Leyland does one lakh vehicles, we expect the north to contribute 30,000 vehicles and TIV goes up in a proportionate manner.” According to Kumar, the regional composition of the company sees the south contributing around 21–22%, the west at a similar level, the east at approximately 15%, and the central region at around 8–9%.

To strengthen its footprint in north India, the company plans to establish over 50 new dealerships and service outlets in the region this year, adding to its existing network of 300 touchpoints.

North India also represents more than one-third of the total commercial vehicle industry volume in the country. The region is critical to the company’s growth strategy due to accelerating infrastructure development, expanding economic activity, and increasing demand for commercial vehicles. 

Over the past three years, Ashok Leyland has increased its market share in the north by 6.5%. In the March quarter, Ashok Leyland posted a 38.4% year-on-year increase in net profit, rising to Rs 1,246 crore from Rs 900 crore a year earlier, supported by a tax credit of Rs 173 crore.

The company ended the financial year 2025 with net cash of Rs 4,242 crore, of which Rs 3,284 crore was generated in the fourth quarter, an improvement from 2023-24, when it closed the year with net debt of Rs 89 crore.