Truck Segment in Automobile Industry will be Growing at 10% Annually: Ashok Leyland
Aiming to further tap the market share, leading commercial vehicle maker Ashok Leyland said that the truck segment would grow at 10 per cent annually.
In the truck segment, Ashok Leyland is holding 45 per cent of the total market share. “With a renewed push from the government for infrastructure and integrated, multi-modal logistics and transport policy, we expect a lot of improvements in this sector. Estimates of this sector are projected to be worth 370 billion dollars by the year 2020. Trucks are the most popular mode, 65 per cent of freight in India, translating into a big opportunity for manufacturers like us to contribute to the positive change in making our country’s logistics sector globally competitive,” said Anuj Kathuria, President – Global Trucks, Ashok Leyland.
Logistics sector in India is witnessing a trajectory of growth and is expected to pace at a CAGR of 16 per cent. While the inflow on new investments will create new opportunities in this sector, the ‘Make in India’ campaign will see these investments connect India to global markets.
Scope of improvement of efficiencies is huge as India spends around 14 per cent of its GDP on logistics and transportation compared to eight per cent in other developing countries, he added. “We want to further strengthen our position through our vehicles, offering the latest in technology, which help our customers earn better margins and superior efficiencies,” Mr Kathuria said.