Ashok Leyland

ASHOKLEY

kicks off FY27 with a steady start: total sales up 9% YoY in April.

's LCV segment continues to lead the growth engine with 16% YoY rise, while M&HCV trucks also remained strong at +15% YoY, signaling healthy freight demand. However, the bus segment remains a drag, declining sharply by ~30% YoY, reflecting weak institutional and replacement demand. On the domestic front, growth looks stronger at +14% YoY, driven by robust LCV momentum (+23% YoY), indicating improving last-mile and rural demand. Takeaway: Core trucking and LCV demand remains resilient, but bus recovery is the key monitorable for a broader CV cycle uptrend.