Commercial vehicle makers Ashok Leyland, Tata Motors and VE Commercial Vehicles Limited (subsidiary of Eicher Motors) reported reasonable growth in volume sales for February 2016 on a year-on-year (YoY) basis.
Ashok Leyland sold 13,403 vehicles, 24.5 percent more than February 2015, when it had sold 10,762 units. Tata Motors reported YoY volume growth of 15 percent at 30,570 units compared to 26,555 units, the companies said in their regulatory filing with the stock exchanges Tuesday.
VE Commercial Vehicles saw its sales spurt by 57.3 percent YoY to 5,032 units from 3,200 vehicles sold in February 2015.
On a cumulative basis, Ashok Leyland sold 123,752 units during the 11-month period ended Feb. 2016, 34 percent more than 92,148 vehicles sold during the corresponding period last fiscal, the company informed the stock exchanges on Tuesday.
Tata Motors saw its cumulative sales grow by a marginal 1 percent to 288,895 units between April 2015 and February 2016.
Cumulative light commercial vehicle sales stood at 150,472 units, down 13 percent YoY while medium & heavy commercial vehicle sales rose 23 percent to 138,423 units.
VE Commercial Vehicles reported 35 percent rise in cumulative sales at 8,800 units for the period April 2015 to February 2016, up from 6,517 units, YoY.
The share price of Ashok Leyland was up 3.25 percent at Rs 93.85 at around 1 p.m. Tata Motors was trading with a gain of 2.47 percent at Rs 323.10, while Eicher Motors was trading almost flat at Rs 19,285.55.