Ashok Leyland, the Hinduja group flagship company, today said it expects sluggishness in the commercial vehicle market to continue for some more time.
Vinod K Dasari, Managing Director, Ashok Leyland said despite the downturn in the industry, the company may launch new product every month.
"The current situation is very bad, one of the worst I have seen in my career. Usually the truck industry goes though a cycle and comes back. But this is the largest down cycle in the commercial vehicle industry."
"We are hoping that it should be back in the next three to four months. But who knows may be it will wait till the elections are over and whichever Government comes ... hopefully there will be a stable government ... which will have the will to do lot of things ...," Dasari told reporters in a press conference after the company commercially launched 'Boss', an intermediate commercial vehicle (ICV) here.
Manufactured at the company’s largest plant in Pantnagar, Uttarakhand, Boss is available in LE and LX variants, he said.
On aims to launch a new product every month despite the slowdown, he said, "in fact this is the best time to launch new products. If you have a product truly world class this is the best time. We will continue and every month we will be bringing a new product."
Ashok Leyland reported 15 per cent decline in sales at 6,803 units for October 2013. The Chennai-based heavy vehicle major had sold 7,997 units during the same month of previous year, Ashok Leyland had earlier said in a statement.
The company witnessed 18 per cent decline in commercial vehicle sales (excluding its small commercial vehicle DOST and Stile) at 4,093 units last month from 4,964 units sold in October, 2012.
Sales of DOST and Stile also declined by 11 per cent at 2,710 units in October 2013 against 3,033 units sold during the year-ago period, Ashok Leyland had said.