Ashok Leyland Secures 1,282-Bus Contract with Gujarat State Road Transport Corporation (GSRTC)

Ashok Leyland, India’s premier commercial vehicle manufacturer, has achieved a remarkable milestone by securing a substantial order from the Gujarat State Road Transport Corporation (GSRTC) for a fleet of 1,282 fully assembled buses. This historic contract stands as one of the most significant single Original Equipment Manufacturer (OEM) orders received from a State Transport Undertaking, further solidifying Ashok Leyland’s dominant presence in the burgeoning Indian bus market.

The newly commissioned buses will be meticulously crafted 55-seater models, featuring cutting-edge BS VI diesel technology and a robust 147 kW (197 hp) H-series engine from the iGen6 BS VI series. These innovations promise to deliver an unparalleled level of passenger comfort, heightened safety standards, and a substantially reduced Total Cost of Ownership (TCO).

Mr. Shenu Agarwal, Managing Director & CEO of Ashok Leyland, expressed his delight, stating, “We are immensely proud to have secured one of the largest OEM-built bus orders from GSRTC. Ashok Leyland buses have earned a well-deserved reputation for their durability, resilience, and advanced technology, making us the preferred choice among government and private customers alike. Our commitment to delivering exceptional product experiences, coupled with unmatched cost-effectiveness, sets industry benchmarks. Our profound understanding of our markets and customers continues to set us apart and has played a pivotal role in our success in securing these prestigious orders.”

Ashok Leyland stands as the undisputed leader in the Indian bus market and ranks among the world’s top bus manufacturers. This momentous order serves as yet another testament to the company’s unwavering commitment to excellence and the unwavering trust that customers place in its products and services.

Business Update: Ashok Leyland has released its vehicle sales data for September 2023, encompassing both domestic and export markets. The sales of Medium and Heavy Commercial Vehicles (M&HCVs) witnessed a remarkable 14% growth domestically and an impressive 13% growth when export figures are included. Furthermore, the sales of Light Commercial Vehicles (LCVs) displayed a notable 3% domestic growth and a corresponding 3% growth in exports. Overall vehicle sales surged by a commendable 10% within the domestic market and 9% when exports are considered. Remarkably, M&HCV bus sales recorded a staggering 79% domestic growth and a commendable 58% growth when export figures are accounted for, reaffirming the robust demand for buses in both the domestic and export markets within India.

With a market capitalization exceeding Rs 50,000 crore and a history of positive financial performance in its quarterly results (Q1FY24) and annual results (FY23).

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