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Informist, Thursday, Sept. 3, 2026

 

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NEW DELHI – Ashok Leyland Ltd. will continue to increase prices of its commercial vehicles until commodity prices soften expectedly towards the end of the current financial year, Managing Director and Chief Executive Officer Shenu Agarwal told reporters in a media roundtable on the sidelines of the 66th annual conclave of the Society of Indian Automobile Manufacturers here Thursday.

 

"Although I don't have evidence for it right now, I believe commodity pricing will start softening," Agarwal said. "A little bit (of softening will happen) in Q3 (Oct-Dec), and then quite a bit in Q4 (Jan-Mar)," he said, adding that the company will continue to hike prices only in a calibrated manner. The company won't pass on the entire impact of the increase in commodity costs to customers. 

 

"Pricing action would happen, more as we go along. However, there is a limit to what customers will accept or the market will accept," Agarwal said. The company remains wary of denting the ongoing growth in commercial vehicle sales by price hikes. Ashok Leyland will hike prices "very wisely" because "there is no other way" and the pinch from higher commodity costs is "really severe".

 

SALES MOMENTUM

On the growth in its commercial vehicle sales, Agarwal said growth in the September quarter will be better than in the June quarter. "July has been fantastic and August has been like beyond even our imagination. We grew by 40% plus in August," he said. The growth is likely to continue because there is a "fundamental need" for trucks and buses in the country, he said. 
 
Stable interest rate and GDP growth remain positives for the industry. However, rising inflation has raised some concerns around the interest rate, Agarwal said. He also expects infrastructure activity to pick up sharply after the monsoon ends.

 

In the coming months, the medium and heavy commercial vehicle segment will not match the growth rate registered in the corresponding period a year ago, but may still continue their momentum, Agarwal said. This segment is expected to grow in the high single digits and light commercial vehicles by even more, the official said, adding that this is still a conservative estimate. 

 

Thursday, shares of Ashok Leyland ended at INR 169.35 on the National Stock Exchange, 0.86% higher than Wedneaday.  End

 

Reported by Anand JC and Devanshu Singla

Edited by Shubhayan Bhattacharya

 

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