Truck sales crash 60%; Ashok Leyland sees decline of 70% in August

Volumes during August were dragged down by the top two manufacturers, which together sell more than seven in every 10 trucks

Sales of medium- and heavy-duty commercial vehicles (M&HCVs), excluding buses, considered a barometer of economic activity, more than halved in August, as transporters — struggling with excess capacity owing to a slowing economy and consumption slowdown — deferred purchases, the monthly sales data released by truck makers shows. 

India’s economy grew by 5 per cent in the June quarter, the slowest in over six years. The manufacturing sector fared worse, growing at an abysmal 0.6 per cent.  

The overall volume at India’s top four M&HCV makers — Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra — fell 59.5 per cent