Ashok Leyland April car sales results

Ashok Leyland April car sales results
On Wednesday, Hinduja Group owned car maker Ashok Leyland reported disappointing sales figures for the month of April 2011. The company saw a 15 per cent dip in total car sales for April, with the unit sales standing at 5,543 as against 6,500 units in the corresponding month in the previous year. The sales have declined by almost 50% in comparison to 12,169 units sold in March 2011.

A further breakup of the total sales revealed that the domestic sales stood at 4,832 units, registering a decline of 19 percent from 5,990 units sold in the corresponding period of the previous year. However the exports saw a 39 percent rise from 510 units in April 2010 to 711 units in April this year.

Segment wise analysis shows that the domestic sales of the company's MDV passenger, MDV goods and LCV segments all saw a dip, while exports for MDV goods and LCV segments saw a growth as compared to April 2010 sales.

The dismal sales figures affected the performance for the company"s stock. On the Bombay Stock Exchange (BSE), stocks of the firm were trading at Rs. 48.15 down by 2.53 per cent or by Rs. 1.25, at 11:57 A.M IST on Wednesday. The stock had seen an intraday high of Rs 49.00 and a low of Rs. 47.20, till then.

In related news, the company which is India second largest commercial vehicle maker intends to sell around 25,000 light commercial vehicles (LCV) through its joint venture with Japanese auto maker, Nissan Motor Co. in the current fiscal year. The two are in a JV to produce LCVs.

Read more about: ashok leyland, auto, bse, nse
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