Ashok Leyland Ltd plans to grow its market share in the domestic truck and bus market by about 15 per cent in the next three-five years as it gears up to unleash a spurt of modern vehicles, company officials said on Tuesday.
The Hinduja Group flagship is also preparing to export 3,300 trucks worth $46 million to war-ravaged Iraq besides exploring manufacturing or export tie-ups in Pakistan, Thailand and Indonesia, its executive director (product development and advanced engineering) M Natraj said.
"Our market share should grow from 35 per cent now to 45-50 per cent in the next three-five years. The growth will come from higher sale of medium and heavy commercial vehicles for intra-city transport and small trucks, especially after the highways come up across the country," Natraj told reporters.
Ashok Leyland will unveil a high-capacity low-floor vestibule CNG bus and a CNG-powered minibus as well as a new-generation 260 horse power engine fitted tractor and a tipper at the Auto Expo, which opens on January 15.
Talks are on with the Delhi government for trial runs of the inter-city vestibule bus, which was expected to commence next month, Natraj said.
{{/usCountry}}Talks are on with the Delhi government for trial runs of the inter-city vestibule bus, which was expected to commence next month, Natraj said.
{{/usCountry}}He said the investments in research and development would be doubled to about four per cent of turnover in three years to produce more modern vehicles.