Ashok Leyland’s November Sales Rise 7%, Light Commercial Vehicle Sales Struggle

Shares of Ashok Leyland Ltd. slipped after the company reported a 7 percent rise in sales for the month of November. India’s second largest commercial vehicle maker sold 9,574 units compared to 8,971 units in the same month last year, the company said in a filing to the stock exchanges.

Sales of medium and heavy commercial vehicles rose 10 percent to 6,928 units compared to 6,297 units last year.

The light commercial vehicles segment, such as pick-up trucks, vans, and three-wheelers, saw sluggish sales, falling one percent to 2,646 units as compared to 2,674 units in the same month last year.

Shares recovered from the day’s low but were trading 2 percent lower at Rs 77.85 per share.