Ashok Leyland January Sales Below Analyst Estimates
Ashok Leyland January Sales, the Indian automobile company reported its sales at 11,850 units, dropped around 40 per cent in the month of January 2020. The reported sales numbers were a bit below the analyst estimates. In spite of huge discounts, the company’s sales plunged on the back of muted demand conditions. The company had sold 19,741 units in the corresponding month previous year. According to the Japanese financial holding company, sales would be at 11,900 units in January 2020.
On the domestic front, the sales for January 2020 at 10,850 units YoY and slumped 41.5 per cent. Earlier the domestic sales were at 18,533 units in the same month last year.
Meanwhile, Medium and Heavy commercial vehicle sales contributed about 65 per cent of total sales in January 2020. MHCV sales stood at 7,754 units, fell 47 per cent. Whereas light commercial vehicle sales stood at 4,096 units, tumbled 19 per cent. The shares of Ashok Leyland have been witnessed a fall of 11 per cent since last week. The stock trading at Rs 76.20 on the BSE, fell 1.04 per cent at 11:15 am.